Tuesday, March 15, 2011

Proposed New Auto Insurance Law

As I mentioned last week, The WI State Assembly passed "Choice in Auto Insurance" this past Tuesday. It must now go to the WI State Senate for approval before it becomes law. The bill did NOT repeal Gov Doyle's Auto Insurance Law of June 2009 but I think it made some significant changes. Here are the major changes: 1. They lowered the limits back to 25,000 per person, $50,000 per occurrence, $10,000 for property damage. 2. Lowered Uninsured Motorist and Underinsured Motorist coverage to 50,000 per person and $100,000 per occurrence. 3. They eliminated the "stacking" provision where drivers could use coverage from up to 3 of their vehicles from an accident involving just one of their vehicles.

Watch this site for further developments because the Senate must pass a similar bill before Gov Walker can sign this legislation into law.

The more you know, the better decisions you can make about your insurance coverage.

Ron Binning
Binning & Dickens Insurance

Thursday, March 10, 2011

Change in Auto Insurance Law in WI

The Wisconsin Legislature has been debating many topics in preparation to passing the budget and one of the topics is a CHANGE in the Auto Insurance Law. Remember a major change occurred in June 2009, January 2010, and finally June 2010. Many of those changes will probably be overturned. Check back to this BLOG for the details as they become known.

That being said, we DO NOT recommend any client or any potential client lower their liability limits back to the lower limits in force prior to the June 2009 changes. The goal of liability insurance is to protect your assets from plaintiff suits. Your auto coverage is the greatest exposure you personally have for impacting your assets.

Drive safe. Drive defensive.

Ron Binning - ron@binningdickens.com
Binning & Dickens Insurance