New Jersey S3124 increases minimum motor vehicle and automobile insurance coverage limits.

New Jersey S3124 increases certain minimum limits for motor vehicle and automobile insurance coverages. The bill raises the minimum bodily injury liability coverage from $15,000 to $100,000 per person and from $30,000 to $200,000 per accident. It also increases the minimum property damage liability coverage from $5,000 to $35,000 per accident. Additionally, the bill amends the law concerning medical expense benefits options as part of the personal injury protection, or “PIP,” coverage, increasing the minimum amount of medical expense benefits an insured may choose from $15,000 to $25,000.

New Jersey S3124 increases minimum motor vehicle and automobile insurance coverage limits.

New Jersey S3124 increases certain minimum limits for motor vehicle and automobile insurance coverages. The bill raises the minimum bodily injury liability coverage from $15,000 to $100,000 per person and from $30,000 to $200,000 per accident. It also increases the minimum property damage liability coverage from $5,000 to $35,000 per accident. Additionally, the bill amends the law concerning medical expense benefits options as part of the personal injury protection, or “PIP,” coverage, increasing the minimum amount of medical expense benefits an insured may choose from $15,000 to $25,000.