Compulsory Liability Insurance
I recommended that the Legislature amend the insurance statutes to provide that the minimum liability and UM/UIM coverage for automobiles and all motor vehicles be increased to $100,000. The action of the Legislature in increasing the compulsory insurance limits to $25/50,000 on Jan. 1, 2023 and $35/70,000 on Jan. 1, 2026 is welcome, but is not enough.
February 13, 2023 at 12:00 PM
2 minute read
Insurance Litigation
In 1972, the State of New Jersey adopted a compulsory motor vehicle insurance law. L. 1972, c.70, §3; L. 1972, c. 197, §1. The laws require the owner of every motor vehicle and every automobile registered in this state to maintain liability insurance for bodily injury or death in the minimum amount of $15,000 per person and $30,000 per accident. N.J.S.A. 39:6 B-1; N.J.S.A. 39:6A-3. In addition, every liability policy (except for a basic automobile policy) shall provide uninsured motorist coverage of $15/30,000. N.J.S.A. 17:28-1.1.
On Aug. 5, 2022, the Legislature amended the minimum compulsory motor vehicle and automobile liability limits, as follows:
(1) For policies issued from Jan. 1, 2023 to Dec. 31, 2025: $25,000 per person and $50,000 per accident.
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