Bill Lets Military Members Keep Car Insurance When Moving to New State

By Andrew G. Simpson | May 19, 2014

Members of the military and their families would be able keep their current auto insurance policies when moving from one state to another state under a bill introduced in Congress.

U.S. Rep. Ed Royce (R-Calif.), a senior member of the House Financial Services Committee, and U.S. Rep. Tammy Duckworth (D-Ill.), a veteran of the Iraq war and a member of the House Armed Services Committee, introduced the Servicemembers Insurance Relief Act (H.R. 4669) yesterday. The bill is expected to be referred to the House Financial Services Committee.

The bill aims to make the state-based insurance regulatory system more accommodating to service members who currently have to change auto insurance policies every time they relocate across state lines.

“This bipartisan legislation makes a simple but meaningful change to current law that will lessen the burden on service members and their families during times of transition,” said Rep. Royce.

In a December, 2013 report on modernizing insurance regulation, the Federal Insurance Office linked the issue facing the military to a lack of uniformity in insurance products approved at the state level. The FIO said it would work with states and the industry to make it easier for relocating service members to retain their insurance, possibly developing a common personal lines auto insurance form for active service members that would be recognized by all states.

 

 

Subscribe Insurance news headlines delivered to your email.
Get a free subscription to our popular email newsletter.

Latest Comments

  • May 23, 2014 at 9:12 am
    Libby says:
    Check it out.
  • May 22, 2014 at 5:43 pm
    Not necessarily.. says:
    SOME other HO carriers MAY not cover personal property in transit, but I would venture to say that most do.
  • May 22, 2014 at 3:13 pm
    Libby says:
    Maybe so, but what's wrong with that?
See all comments

Add a Comment

Your email address will not be published. Required fields are marked *

*

More News
More News Features