Currently Louisiana drivers are required to carry 10-20-10 liability coverage that “pays for up to $10,000 in property damage, $20,000 total for everyone injured in an accident but no more than $10,000 per person for injuries.” The legislation is proposing to increase the minimum coverage to 25-50-25.
According to a Senator Art Lentini “the legislation, if signed into law, could add another $10 to $12 per month to the policy’s cost. While that $120 to $144 annual increase doesn’t seem like a lot those opposing the law are saying that the people who’ll be directly affected by the increase are the ones who can’t afford to pay more.
“J.E. Brignac of the Louisiana Association of Fire and Casualty Co. said most of the vehicles that rely on the 10-20-10 minimum are buying that policy because they cannot afford to anything more but still need their vehicles to go to work. About one-third of the vehicles on the roads today are not insured, largely because of poverty, he said.”
What are your thoughts on this proposed law?
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