Massachusetts H1219 modifies insurance surcharges for minor and major accidents.

Massachusetts H1219 amends the definition of minor and major accidents for motor vehicle insurance claims. A minor accident is now defined as one where the claim payment exceeds $5,000 but is not more than $7,500. A major accident is defined as one where the claim payment exceeds $7,500. The bill also specifies that an accident is not surchargeable if the claim payment is equal to or less than $5,000. This change affects how insurance companies calculate premiums for policyholders.

Massachusetts H1219 modifies insurance surcharges for minor and major accidents.

Massachusetts H1219 amends the definition of minor and major accidents for motor vehicle insurance claims. A minor accident is now defined as one where the claim payment exceeds $5,000 but is not more than $7,500. A major accident is defined as one where the claim payment exceeds $7,500. The bill also specifies that an accident is not surchargeable if the claim payment is equal to or less than $5,000. This change affects how insurance companies calculate premiums for policyholders.