This bill amends Iowa's Code chapters 321A, 321F, and 321N to increase the minimum amounts of financial responsibility required for motor vehicle insurance. Specifically, it raises the coverage for bodily injury or death of one person from $20,000 to $50,000, for two or more persons from $40,000 to $100,000, and for property damage from $15,000 to $50,000. Additionally, it adjusts the minimum coverage for leasing and renting vehicles from $10,000 to $50,000 and for transportation network company drivers from $25,000 to $50,000. These changes ensure that the financial responsibility requirements are more reflective of potential damages in the event of an accident.

The bill also establishes penalties for violations of these provisions. A serious misdemeanor is defined for violations of Code chapter 321A, punishable by up to one year of confinement and fines ranging from $430 to $2,560. For violations of Code section 321.20B, which mandates proof of financial liability coverage, the penalties include a simple misdemeanor with a scheduled fine of $325, increasing to $645 if discovered during an accident. Furthermore, violations of Code chapter 321F are classified as simple misdemeanors, carrying fines between $105 and $855 and potential confinement for up to 30 days.

Statutes affected:
Introduced: 321A.1, 321A.5, 321A.15, 321F.1, 321N.4