The combination of the poor economy and the dated minimum California statutory limits makes the time right to readjust the intent of the uninsured/underinsured motorist law. The stated effect of the law, to guarantee to an insured motorist the minimum financial responsibility under his or her own policy for injuries resulting from a collision with another party who either has no automobile liability insurance or has insurance with insufficient limits, is also outdated. The realistic and modern approach is to allow consumers the unrestricted right to protect themselves from a collision with another party who has insufficient limits notwithstanding the dated minimum statutory limits. Passage of AB 1063 will accomplish this equitable approach by eliminating an insurer’s right to claim an unnecessary credit. It will give California policy holders the insurance benefits they bought and paid for at a time when they need it the most---when the at-fault driver has insufficient liability coverage to compensate them for all the damage he or she has caused.
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