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House Bill 3300 |
House Author: Thompson |
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Effective: 6-18-05 |
Senate Sponsor: Averitt |
House Bill 3300 amends the Insurance Code to authorize an insurer to reinstate a personal automobile insurance policy canceled for nonpayment of the premium if the premium owed is paid within 60 days after the cancellation date. The bill specifies that coverage lapses on the date of cancellation and is not effective again until the date the payment is received by the insurer and that the premium is not owed for any period in which the policy is not in effect. The bill applies certain laws relating to the provision of uninsured or underinsured motorist coverage and personal injury protection coverage following an insured's rejection of such coverage to reinstated policies.