Lowers minimum motor vehicle liability coverage requirement for autocabs in New Jersey.

This bill reduces the minimum motor vehicle liability coverage requirement for autocabs in New Jersey. Currently, autocab owners must maintain coverage of at least $1.5 million. The bill lowers this requirement to $200,000 for bodily injury or death in an accident and $25,000 for property damage. The changes apply to all insurance policies initiated or renewed after the bill's enactment.

Lowers minimum motor vehicle liability coverage requirement for autocabs in New Jersey.

This bill reduces the minimum motor vehicle liability coverage requirement for autocabs in New Jersey. Currently, autocab owners must maintain coverage of at least $1.5 million. The bill lowers this requirement to $200,000 for bodily injury or death in an accident and $25,000 for property damage. The changes apply to all insurance policies initiated or renewed after the bill's enactment.