This bill proposes amendments to the Code of West Virginia regarding the definition of "proof of financial responsibility" in relation to auto insurance. The current minimum coverage amounts for bodily injury and property damage are set to be increased. Specifically, the bill deletes the existing minimums of $20,000 for bodily injury to one person, $40,000 for two or more persons, and $10,000 for property damage, and replaces them with new minimums of $25,000, $50,000, and $25,000, respectively, effective January 1, 2016.

Furthermore, beginning January 1, 2026, the bill establishes even higher minimums of $50,000 for bodily injury to one person, $100,000 for two or more persons, and $50,000 for property damage. The bill also includes provisions ensuring that insurance policies in effect on December 31, 2015, and December 31, 2025, will continue to meet the financial responsibility requirements until they expire or are renewed. Overall, the bill aims to enhance the financial protection for individuals involved in motor vehicle accidents in West Virginia.

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