This bill amends the Code of West Virginia to increase the mandatory insurance coverage limits required for proof of financial responsibility related to motor vehicles. Specifically, it raises the minimum coverage amounts for bodily injury and property damage. The new limits will be set at $25,000 for bodily injury or death of one person, $50,000 for bodily injury or death of two or more persons, and $25,000 for property damage in any one accident. Additionally, starting January 1, 2026, these limits will further increase to $50,000 for bodily injury or death of one person, $100,000 for bodily injury or death of two or more persons, and $50,000 for property damage.

The bill also includes a provision that allows insurance policies in effect on December 31, 2025, which meet the previous minimum coverage amounts, to continue to provide adequate proof of financial responsibility until the policy expires or is renewed. This transition period ensures that existing policyholders are not immediately affected by the new requirements. Overall, the purpose of this legislation is to enhance the financial protection for individuals involved in motor vehicle accidents by increasing the minimum insurance coverage limits.

Statutes affected:
Introduced Version: 17D-4-2