|Posted:||January 7, 2019 01:06 PM|
|From:||Representative Jerry Knowles|
|To:||All House members|
|Subject:||Vehicle Property Damage Increase|
|In the near future, I will be re-introducing legislation (previous HB 2224) from last Session which increases the minimum amount of property damage insurance a person would be required to carry on an automobile policy. Under current law, a person is required to carry just $5000 insurance for property damage. This number has not been adjusted for decades. The average car cost under $5000 when the current limit was implemented and today the average car cost over $30,000.
As we all know, the current threshold does not cover property damage in today’s economy. I believe it is now time to have our auto insurance property damage limits reflect a more realistic cost should damage occur in an automobile accident.
My legislation would increase the amount to a minimum of $15,000 for property damage for automobile polices.
Please join me in co-sponsoring this legislation. Thank you.
Previous Cosponsors: McGINNIS, JOZWIAK, IRVIN, WARD and WHEELAND
Introduced as HB1046