500.1611 Exclusions. Sec. 1611. (1) Creditor-placed insurance coverage does not include any of the following: (a) Coverage for the cost of repossession. (b) Skip, confiscation, and conversion coverage. (c) Coverage for payment of mechanics' or other liens that do not arise from a covered loss occurrence. (d) Coverage that requires a debtor's insurance deductible to be less than $250.00. (e) Coverage that is broader than the insurance coverages that meet the minimum insurance requirements of the credit agreement. (2) This section does not prohibit the issuance of a separate policy or endorsement providing the coverages listed in subsection (1). However, no charge shall be passed along to the debtor for these coverages. History: Add. 2002, Act 655, Eff. Mar. 23, 2003 Popular Name: Act 218
Michigan Legal Code