Friday, August 14, 2009

Wisconsin Auto Ins Law eff 11-1-2009

Maybe you missed this in the news: Important changes to the Wisconsin Auto Insurance LAW:

NEW WISCONSIN INSURANCE LAW THAT WILL AFFECT YOU!!!!!!!!!!!
The Governor inserted NEW Insurance Statutory Provisions into the 2009-2010 State Budget. Some provisions become effective 11-1-2009, others on 1-1-2010, and the MANDATORY INSURANCE PROVISION becomes effective 6-1-2010.

These changes become effective for you at your renewal!!!!!!!!!

Here is a summary of the AUTOMOBILE changes:

The minimum Bodily Injury (BI) limits are increased to $50,000 for each person and $100,000 for each accident. The minimum limits for Property Damage (PD) are increased to $15,000. Policies with a Combined Single Limit are increased to $115,000.
The minimum Medical Payments limit is increased to $10,000. You may reject this coverage via a signed authorization form. WE DO NOT RECOMMEND REJECTING THIS COVERAGE.
The minimum Uninsured Motorist (UM) limits are increased to $100,000 for each person and $300,000 for each accident. Policies with a Combined Single Limit are increased to $300,00.
Underinsured Motorist (UIM) coverage is now mandatory, at limits of $100,000 for each person and $300,000 for each accident or $300,000 Combined Limit.

NEW PERSONAL UMBRELLA INSURANCE LAW:
If you have a Personal Umbrella policy, new Wisconsin laws require you are offered Uninsured Motorist (UM) and Uninsured Motorist (UIM) coverages on your Personal Umbrella policy. You do have the option to reject UM & UIM coverages on your Personal Umbrella policy via a signed authorization form.

MANDATORY AUTO INSURANCE LAW:
EFFECTIVE JUNE 1, 2010, every person who operates a motor vehicle MUST have an Auto Liability Insurance policy and MUST be able to show proof of the insurance when requested.
THIS LAW WAS PASSED WITHOUT MUCH DEBATE OR PUBLICITY SO GIVE US A CALL WITH YOUR QUESTIONS – 262-473-3930.

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