|Posted:||January 21, 2021 10:09 AM|
|From:||Representative Jerry Knowles|
|To:||All House members|
|Subject:||Vehicle Property Damage Increase (Previously HB 1046)|
|In the near future, I will be reintroducing legislation (previous HB 1046) 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 cosponsoring this legislation. Thank you.
Previous Cosponsors: Jozwiak, B. Miller, Bernstine, Barrar, Irvin, Lawrence, Jones, Ryan and Webster.
Introduced as HB1994