A bill to raise the minimum amount of liability drivers are required to carry on their auto insurance policies was approved by the Arizona State Senate late last week and is now with the House for action.
Those who are for the measure say it is needed to protect accident victims from loss. Those against say current liability insurance limits are sufficient in protecting citizens, and raising them will lead to more uninsured motorists.
The bill, which was introduced by Senator Kate Brophy McGee, R-Phoenix, was designed to shift the cost and responsibility back to those who cause accidents and protect the vulnerable.
The existing limits have been in place since 1972. The law currently requires Arizona drivers to carry liability coverage that pays $15,000 for a single injury or death of a person. The proposal would raise that minimum to $25,000, while increasing the limit of all injuries and deaths in an accident from $30,000 to $50,000. The bill would also change the limit of liability insurance requirements for property damage in an auto accident from $10,000 to $25,000.
Those for and against the bill disagree on whether the measure would raise rates.
If you’d like to learn more about this or any other current insurance law, give us a call anytime at 480-696-6438. We are happy to stay on top of regulations like this one so that we can keep all of our clients well informed.