SPONSOR: Keathley
Currently, the financial responsibility for motor vehicle insurance is $25,000 for bodily injury to, or death of, one person in any one accident, and, subject to said limit for one person, in the amount of $50,000 for bodily injury to, or death of, two or more persons in any one accident, and in the amount of $25,000 for injury to or destruction of property of others in any one accident.
This bill raises the financial responsibility for motor vehicle insurance to $50,000 for bodily injury to, or death of, one person in any one accident, and, subject to said limit for one person, in the amount of $100,000 for bodily injury t,o or death of, two or more persons in any one accident, and in the amount of $50,000 for injury to or destruction of property of others in any one accident.
Additionally, this bill makes changes to underinsured motor vehicle coverage.
Currently, any underinsured motor vehicle coverage with limits of liability less than two times the limits for bodily injury or death must be construed to provide coverage in excess of the liability coverage of any underinsured motor vehicle involved in the accident.
This bill changes that law to say that any underinsured motor vehicle coverage must be construed to provide coverage in excess of the liability coverage of any motor vehicle involved in the accident.
Statutes affected: