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House Bill 949 |
House Author: Smithee et al. |
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Effective: 9-1-13 |
Senate Sponsor: Watson |
House Bill 949 amends the Insurance Code to require a personal automobile insurance policy to provide for continued coverage of a motor vehicle acquired by the insured during the policy term if the insurer is notified of the vehicle's acquisition on or before the 20th day after the date on which the insured becomes the owner of the vehicle or a later date specified by the policy. This requirement applies to private passenger automobiles and certain pickups, utility vehicles, and vans. The bill requires coverage for a vehicle that replaces a covered vehicle to be the same as the coverage for the vehicle being replaced and establishes that an insured is required to notify the insurer of a replacement vehicle only if the insured wishes to add coverage for damage to the vehicle or to continue existing coverage for damage to the vehicle after the prescribed notification period expires. The bill requires coverage for a vehicle that is acquired in addition to the covered vehicles shown in the declarations for the policy and of which the insurer is notified during the prescribed notification period to be the broadest coverage provided under the policy for any covered vehicle shown in the declarations.