Idaho Bills

Amends existing law to revise the amount of required motor vehicle insurance relating to property damage.

This legislation amends Idaho's motor vehicle financial responsibility laws to increase the minimum required insurance coverage for property damage resulting from motor vehicle accidents. The bill increases the required minimum property damage liability coverage from fifteen thousand dollars ($15,000) to twenty-five thousand dollars ($25,000) per accident and makes conforming amendments to insurance and bonding provisions governing proof of financial responsibility. The purpose of the legislation is to better align minimum coverage requirements with current vehicle repair and replacement costs while maintaining existing bodily injury coverage requirements.

Adds to existing law to establish provisions regarding appraisals by competent and disinterested appraisers and to establish a dispute resolution process.

This legislation requires automobile insurance policies issued in Idaho to include an appraisal provision allowing policyholders and insurers to resolve disputes regarding vehicle loss valuations and settlement offers through a standardized appraisal and dispute resolution process. The bill establishes procedures for selecting competent and disinterested appraisers, timelines for completing appraisals, and a mechanism for resolving disagreements through selection of an independent umpire whose determination resolves the dispute. The bill further authorizes the Department of Insurance to adopt rules necessary for implementation and provides that insurer failure to comply constitutes a violation of existing insurance law. The legislation is intended to provide consumers and insurers with a clear and efficient process for resolving claim valuation disputes.