The minimum amount of coverage for certain types of liability insurance would increase for Nebraska motorists, under a bill introduced in the state Legislature.
State Sen. Paul Schumacher said the financial responsibility requirements for auto insurance need to be changed, because a dollar isn’t worth what it used to be.
The Columbus senator wants to increase the benefit for uninsured or underinsured motorist policies from $25,000 to $50,000 for individuals. In cases where two people are injured, the benefit would go from $50,000 to $100,000.
Schumacher said the current levels were set many years ago, when medical costs were lower. He said motorists would pay a relatively small amount more for insurance to double the coverage to pay for medical bills.
Was this article valuable?
Here are more articles you may enjoy.
NY Archdiocese Can Depose Chubb CEO Greenberg in Clergy Abuse Claims Case 
US P/C Insurers Post Biggest Q1 Underwriting Profit in 25 Years 
Insurance Mogul Lindberg Gets 12 Years for $2 Billion Fraud 
Florida’s Property Tax Plan Risks Charging Fees for ‘Everything’ 
