New Jersey 2024-2025 Regular Session

New Jersey Assembly Bill A2012

Introduced
1/9/24  

Caption

Establishes "Automobile Accident Injury Fund."

Impact

The 'Automobile Accident Injury Fund' will serve as a revolutionary development in state law by creating a non-lapsing, revolving fund specifically for covering the medical expenses of eligible individuals injured in stolen vehicle accidents. The fund's implementation is expected to address a critical gap in medical coverage for the uninsured or underinsured, ensuring that medical bills related to such incidents are accounted for, regardless of existing policies. This initiative seeks to not only support victims of automobile theft but also promote overall public safety.

Summary

Assembly Bill A2012 establishes the 'Automobile Accident Injury Fund' within the Department of Banking and Insurance in New Jersey. This fund is designed to provide financial support for the medical costs of individuals injured in automobile accidents involving stolen vehicles. Notably, the bill highlights the increasing incidence of vehicle thefts in the state, with reports indicating a 22 percent rise in stolen vehicles from the previous year. The fund aims to alleviate the burden faced by individuals who might not have health or automobile insurance coverage, especially with a significant portion of the population uninsured.

Contention

Despite its potential benefits, the bill may face discussions around the adequacy of funding, approach towards prevention of vehicle thefts, and broader implications for auto insurance policies. Opponents could argue that this fund might inadvertently incentivize negligence among drivers regarding theft-prevention measures. Additionally, there could be debates surrounding the criteria for eligibility, the assessment of medical costs, and the regulations dictating fund management. These concerns may lead to scrutiny over how effectively the fund will be managed and whether it sufficiently addresses the root causes of automobile theft.

Companion Bills

NJ A4788

Carry Over Establishes "Automobile Accident Injury Fund."

NJ S3221

Carry Over Establishes "Automobile Accident Injury Fund."

Previously Filed As

NJ A4788

Establishes "Automobile Accident Injury Fund."

NJ S3221

Establishes "Automobile Accident Injury Fund."

NJ H7403

Automobile Accident Social Protection Act

NJ S2259

Eliminates certain personal injury protection options available under standard automobile insurance policies; requires $250,000 of medical expense benefits under standard and basic automobile insurance policies.

NJ S471

Eliminates certain personal injury protection options available under standard automobile insurance policies; requires $250,000 of medical expense benefits under standard and basic automobile insurance policies.

NJ S1473

Revises personal injury protection coverage for basic automobile insurance policies from $15,000 to $20,000 and requires $50,000 minimum personal injury protection coverage for standard automobile liability insurance policies.

NJ A5897

Revises personal injury protection coverage for basic automobile insurance policies from $15,000 to $50,000 and requires $50,000 minimum personal injury protection coverage for standard automobile liability insurance policies.

NJ S3266

Revises personal injury protection coverage for basic automobile insurance policies from $15,000 to $50,000 and requires $50,000 minimum personal injury protection coverage for standard automobile liability insurance policies.

NJ S3949

Allows persons operating bicycle, low-speed electric bicycle, or low-speed electric scooter involved in accident to be eligible for personal injury protection benefits; requires crash reports for accidents.

NJ A1057

Raises minimum amounts of property damage liability, uninsured motorist, and underinsured motorist coverage for certain automobile insurance policies.

Similar Bills

NJ S3221

Establishes "Automobile Accident Injury Fund."

NJ A4788

Establishes "Automobile Accident Injury Fund."

NJ A2592

Revises law concerning physical damage inspection of vehicle by automobile insurer.

NJ A4643

Revises law concerning physical damage inspection of vehicle by automobile insurer.

NJ S3244

Revises law concerning physical damage inspection of vehicle by automobile insurer.

NJ A1742

"Peer-to-Peer Car Sharing Act".

LA HB463

Authorizes the establishment of automobile rental tax districts in certain parishes and dedicates the monies generated from the tax (OR INCREASE LF RV See Note)

NJ S2994

Clarifies that owners of self-driving motor vehicles must comply with existing insurance requirements.