Governor Doyle’s budget proposed to increase minimum coverage levels for auto insurance, currently at $25,000 bodily injury per person, $50,000 bodily injury per accident, and $10,000 property damage, to $100,000, $300,000 and $25,000 respectively. The Joint Committee on Finance proposed a phase in to reach these new limits over three years.
The Conference Committee left in the increased minimums and mandated that all drivers maintain auto liability insurance. With the addition of the mandated insurance, the Governor in his veto message wrote he “revisited the liability limit increases and other reforms” and eliminated the last two stages of the phase in. The new limits to go into effect on January 1, 2010 are $50,000/person, $100,000/accident and $15,000 for property damage.
Insurance experts predicted the original proposed minimum coverage increases, plus other auto insurance provisions in the budget, would increase premiums by over 30 percent for most drivers. I will forward you information as it becomes available on how much these new car insurance law changes will cost you.