Madison, WI (Vocus/PRWEB) March 09, 2011
The Wisconsin State Legislature has given approval to a measure that would drastically decrease the amount of auto insurance coverage that policies in the state are required to provide. The Assembly voted 61-34 Tuesday in favor of the cuts.
By doing so, state lawmakers are close to being a signature away from rolling back changes to the state financial responsibility law that was enacted in 2009. Those changes bumped up the protection required of liability and uninsured motorist insurance policies and allowed for the practice of “stacking” policies. Lawmakers who wrote the rollback legislation said that those changes pushed the cost of policies higher and, in effect, restricted consumer choice and pushed coverage out of reach for some.
For Wisconsinites who have seen their rates go up since minimums were increased last year, there are sites that will provide multiple car insurance quotes online for free that allow residents of any state to evaluate prices from a number of providers. These sites also often allow drivers to see how much a policy would cost with different coverage provisions.
The changes approved by the Assembly on Tuesday will reduce the minimums to pre-2010 levels. That means liability policies—which protect policyholders from having to pay for damages they cause to other drivers—will eventually have to provide for protection of up to only $25,000 for bodily injury to one person, $50,000 to two or more, and $10,000 for property damage per accident. In addition, uninsured motorist policies will need to provide $25,000 protection for one person and $50,000 per accident.
This is commonly denoted as 25/50/10 liability with 25/50 UM.
Currently, policies must include at least 50/100/15 liability with 100/300 UM.
To learn more about this and other auto insurance issues, readers can go to http://www.onlineautoinsurance.com/quotes/ where they will find informative resource pages and a free-to-use quote-comparison generator that can give users a quick and comprehensive view of their options.