This bill amends the personal injury protection (PIP) coverage requirements for automobile insurance policies in New Jersey, increasing the coverage from $15,000 to $50,000. Specifically, it mandates that every basic automobile insurance policy must provide personal injury protection benefits of at least $50,000 per person per accident, while standard automobile liability insurance policies must also include a minimum PIP coverage of $50,000. The bill also stipulates that the maximum PIP coverage can go 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 replace the previous limit of $15,000 with a new minimum of $50,000 for basic policies, thereby enhancing the financial protection available to insured individuals in the event of an accident. The bill is set to take effect 90 days after enactment and will apply to all policies that are delivered, issued, executed, or renewed after that date. This legislative change aims to provide better support for individuals who sustain bodily injuries in automobile accidents, reflecting a shift towards more comprehensive coverage in the state's automobile insurance framework.

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