State Senator Paul Schumacher of Columbus, Nebraska is supporting a bill that would result in a higher liability insurance requirement for motorists in his state. He says this change in the financial responsibility requirements is necessary because the dollar isn’t worth what it once was.
Specifically, Schumacher wants to raise the benefit for un/underinsured motorist policies from the existing $25,000 for individuals and $50,000 for when more than one person is injured to $50,000 and $100,000 respectively.
According to the senator, the existing benefit levels were determined many years ago, when the cost of medical care was much lower. Doubling the required coverage amount, he says, will only result in a relatively small increase in auto insurance premiums.