Bill > HB5505

This bill, by amending West Virginia Code §17D-4-2, aims to increase the minimum liability insurance coverage requirements for motor vehicles. "Proof of financial responsibility" is the term used to describe the minimum amount of money an individual must be able to pay to cover damages from an accident. Currently, this minimum is $20,000 for injury or death to one person, $40,000 for injury or death to multiple people, and $10,000 for property damage. However, the bill proposes to significantly raise these minimums to $100,000 for injury or death to one person, $300,000 for injury or death to multiple people, and $100,000 for property damage, effective January 1, 2026. Importantly, any insurance policy that was in effect on December 31, 2026, and met the older, lower minimums will still be considered adequate proof of financial responsibility until that policy expires or is renewed, providing a transition period.

Budget and Finance, Business and Industry

http://www.wvlegislature.gov/Bill_Status/Bills_history.cfm?input=5505&year=2026&sessiontype=RS&btype=bill