This bill amends Minnesota Statutes to increase the liability and uninsured/underinsured motorist coverage amounts for motor vehicle insurance. Specifically, it raises the minimum liability coverage for bodily injury from $30,000 to $60,000 for one person and from $60,000 to $120,000 for multiple persons in an accident. Additionally, it mandates that motorcycle insurance policies include uninsured and underinsured motorist coverage, with minimum limits increased from $25,000 to $50,000 for one person and from $50,000 to $100,000 for multiple persons.

The bill also introduces a requirement for all motor vehicle and motorcycle owners to maintain uninsured and underinsured motorist coverages, ensuring that these protections are available regardless of the type of vehicle involved in an accident. Furthermore, it clarifies that the uninsured and underinsured motorist coverages do not apply to bodily injury of the insured while occupying a vehicle or motorcycle owned by the insured unless it is an insured vehicle. The new provisions will take effect on August 1, 2024, applying to policies offered, issued, or renewed on or after that date.

Statutes affected:
Introduction: 65B.48, 65B.49