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Bill > S1473


NJ S1473

NJ S1473
Revises personal injury protection coverage for basic automobile insurance policies from $15,000 to $20,000 and requires $50,000 minimum personal injury protection coverage for standard automobile liability insurance policies.


summary

Introduced
01/09/2024
In Committee
02/10/2025
Crossed Over
Passed
Dead

Introduced Session

2024-2025 Regular Session

Bill Summary

Revises personal injury protection coverage for basic automobile insurance policies from $15,000 to $20,000 and requires $50,000 minimum personal injury protection coverage for standard automobile liability insurance policies.

AI Summary

This bill revises personal injury protection (PIP) coverage requirements for automobile insurance policies in New Jersey. Specifically, it increases the minimum medical expense benefits for basic automobile insurance policies from $15,000 to $20,000 per person per accident, and requires standard automobile liability insurance policies to provide at least $50,000 in medical expense benefits per person per accident. The bill also introduces a new provision requiring insurers to automatically notify policyholders when their policy limits are increased to meet these new minimum requirements, without requiring the policyholder to sign a new coverage selection form. The changes aim to provide more comprehensive medical coverage for individuals involved in automobile accidents, ensuring that injured parties have access to a higher level of medical expense benefits. The bill includes provisions for maintaining existing options for deductibles and copayments, and specifies that the new requirements will apply to policies delivered, issued, executed, or renewed on or after the effective dates outlined in the legislation.

Committee Categories

Business and Industry

Sponsors (2)

Last Action

Reported from Senate Committee with Amendments, 2nd Reading (on 02/10/2025)

bill text


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