This bill amends the personal injury protection (PIP) coverage requirements for automobile insurance policies in New Jersey, increasing the coverage amount from $15,000 to $50,000. Specifically, it mandates that every basic automobile insurance policy must provide PIP coverage of at least $50,000 per person per accident, while standard automobile liability insurance policies must also have a minimum PIP coverage of $50,000. The bill also stipulates that the maximum PIP coverage can reach up to $250,000 for certain severe injuries, such as significant brain or spinal cord injuries, or for treatments rendered at trauma centers.

The revisions include the deletion of the previous cap of $15,000 for basic policies and the insertion of new language that establishes the $50,000 minimum requirement. Additionally, the bill outlines the conditions under which excess benefits may be reimbursed from the Unsatisfied Claim and Judgment Fund, and it maintains existing provisions regarding the reimbursement of medical expenses, income continuation benefits, and essential services benefits. The act is set to take effect 90 days after enactment and will apply to policies issued or renewed after that date.

Statutes affected:
Introduced: 39:6A-4, 39:6A-3.1