Bill
Bill > A5897
NJ A5897
NJ A5897Revises personal injury protection coverage for basic automobile insurance policies from $15,000 to $50,000 and requires $50,000 minimum personal injury protection coverage for standard automobile liability insurance policies.
summary
Introduced
12/18/2023
12/18/2023
In Committee
12/18/2023
12/18/2023
Crossed Over
Passed
Dead
01/08/2024
01/08/2024
Introduced Session
2022-2023 Regular Session
Bill Summary
This bill revises the personal injury protection coverage for basic automobile insurance policies from $15,000 to $50,000 and requires a minimum personal injury protection coverage of $50,000 for standard automobile liability insurance policies. Under the bill, every basic automobile insurance policy will be required to provide personal injury protection coverage in an amount not to exceed $50,000 per person per accident, and every standard automobile liability insurance policy will be required to provide personal injury protection coverage that shall be no less than $50,000 per person per accident. Current law requires basic automobile insurance policies to provide personal injury protection coverage in an amount not to exceed $15,000 per person per accident, with no minimums required for standard automobile liability insurance policies.
AI Summary
This bill revises the personal injury protection (PIP) coverage for basic automobile insurance policies from $15,000 to $50,000 and requires a minimum PIP coverage of $50,000 for standard automobile liability insurance policies. Under the bill, every basic automobile insurance policy will be required to provide PIP coverage of up to $50,000 per person per accident, and every standard automobile liability insurance policy will be required to provide PIP coverage of at least $50,000 per person per accident. This change increases the minimum PIP coverage, which was previously set at $15,000 per person per accident for basic policies and had no minimum requirement for standard liability policies.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
Introduced, Referred to Assembly Financial Institutions and Insurance Committee (on 12/18/2023)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.njleg.state.nj.us/bill-search/2022/A5897 |
| BillText | https://pub.njleg.gov/Bills/2022/A6000/5897_I1.HTM |
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