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.