Right now, your car insurance has mandatory minimum levels of coverage with respect to property damage and personal injury damages per person and per accident. Those levels right now are set at $5,000 for property damage, $15,000 for bodily injury to or death of 1 person, and $30,000 if 2 more more person. Those limits are from 1983.
What cost $15,000 in 1983 would cost roughly $35,960.54 in 2016. Yeah, there has been a tinsy bit of inflation over the last 34 years. So this bill would raise those mandatory minimum limits to $10,000 for property damage, $30,000 for bodily injury to 1 person and $60,000 to 2 or more persons.
SPONSORS: B.Short, Sokola, Keeley, Mitchell, Paradee, Bonini, Bushweller, Delcollo, Ennis, Hansen, McDowell, Poore, Walsh, Baumbach, Bennett, Jaques, Q.Johnson, Kowalko, Longhurst, Lynn, Matthews, Osienski, Ramone, D.Short, Viola, Wilson
HISTORY: Assigned to the House Economic Development/Banking/Insurance/Commerce Committee on 4/4/17.
STATUS: Waiting for hearing in committee.