Bill > A6143

This bill requires liability insurance coverage for special automobile insurance policies, which are designed for low-income individuals who qualify for government-subsidized programs. Currently, these policies do not include liability coverage, but the bill mandates that they now provide two types of liability insurance: $5,000 for property damage and $5,000 for bodily injury or death in any single accident. The bill also removes special automobile insurance policies from the definition of an "uninsured motor vehicle," which means that these policies will now be considered as having some form of liability protection. These changes are intended to provide greater financial protection for low-income drivers while maintaining an affordable insurance option. The new requirements will apply to all special automobile insurance policies issued, renewed, or delivered 90 days after the bill's enactment, ensuring that eligible low-income individuals have access to more comprehensive insurance coverage that includes basic liability protection.

Business and Industry

https://www.njleg.state.nj.us/bill-search/2024/A6143