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Senate Commerce Committee Statement to Senate, No. 471 (State of New Jersey, June 20, 2022)

Summary

This is a Senate Commerce Committee statement to the New Jersey Senate on Senate Bill No. 471, dated June 20, 2022. The committee reports the bill favorably. The bill requires all standard and basic automobile insurance policies to provide $250,000 of personal injury protection for medical expense benefits. The statement says current law lets drivers on a standard policy choose medical expense benefits of $250,000, $150,000, $75,000, $50,000 or $15,000 per person per accident, and the bill eliminates that option. For basic policies, it says current law provides $15,000 per person per accident, with payment up to $250,000 under certain circumstances.

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Cite this document

“Senate Commerce Committee Statement to Senate, No. 471 (State of New Jersey, June 20, 2022).” Archived at Pandemic Darlings, https://pandemicdarlings.com/source-documents/2022-06-20-scm-s471-s1-91575e0011/, SHA-256 74d81bc14d4651ab17c6f433f8e75ee7e1f348c305f04e631a57b2f0d4f024c1.

Full text

     SENATE COMMERCE COMMITTEE

                   STATEMENT TO

                  SENATE, No. 471

 STATE OF NEW JERSEY
                     DATED: JUNE 20, 2022

   The Senate Commerce Committee reports favorably Senate Bill
No. 471.
   This bill requires all standard and basic automobile insurance
policies to provide $250,000 of personal injury protection for
medical expense benefits.
   Under current law, the standard automobile policy provides a
number of different coverage options and the opportunity to buy
additional protection. One option allows drivers to purchase
medical expense benefits in the amounts of $250,000, $150,000,
$75,000, $50,000 or $15,000 per person per accident. This bill
eliminates the option to purchase medical expense benefits in those
amounts, and instead provides that all standard policies will include
$250,000 of medical expense benefits.
   This bill provides that all basic policies must include $250,000
of personal injury protection per person per accident for medical
expense benefits. Under current law, basic policies must provide
$15,000 per person per accident, except that, medical expense
benefits shall be paid in an amount not to exceed $250,000 under
certain circumstances.
   This bill was pre-filed for introduction in the 2022-2023 session
pending technical review. As reported, the bill includes the changes
required by technical review, which has been performed.

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