Q&A
Impact of reduced PIP insurance on drivers and passengers
2:14:00
ยท
96 sec
Council Member Brooks-Powers addresses concerns raised by drivers in a previous panel and questions the potential risks to passengers if no-fault insurance is reduced. The discussion covers the options for drivers to purchase additional coverage and the sufficiency of existing insurance types.
- Representatives argue that drivers can choose to purchase additional coverage beyond the minimum requirement
- The council member notes that most drivers are likely to opt for the minimum required coverage
- Discussion on whether reducing no-fault insurance puts passengers at more risk, with representatives arguing that other types of coverage would be sufficient
Selvena N. Brooks-Powers
2:14:00
And the panel before this panel were a panel that included drivers, that were clear that they did not feel this would be helpful.
2:14:09
They had concerns about what that meant for them in the event of a crash.
2:14:16
And so hearing from the drivers directly, you know, I just wanna give an opportunity for you to to respond to the concerns that they raised.
Geoff Berman
2:14:25
I I was listening to them, and my reaction was that oftentimes people purchase insurance beyond the limit of what they're required to purchase because they feel that they would rather spend more money and lower their risk even for an unlikely event, and people are welcome to do that.
2:14:42
What we're talking about is what the required minimum coverage is, not putting a cap on some maximum.
2:14:47
So if you're a driver who wants to make sure you're covered for some unlikely scenario, you can purchase more insurance.
Selvena N. Brooks-Powers
2:14:55
Even though the the mass amount of drivers, if they're not required, will likely not because there are some that would like to cut costs.
2:15:04
But then that goes into my next question.
Geoff Berman
2:15:05
I agree with you.
2:15:06
That's that's why the bill would be a good thing.
Selvena N. Brooks-Powers
2:15:08
So my next question is, if we were to reduce no fault insurance, then does that put passengers at more risk?
Freddi Goldstein
2:15:18
No.
2:15:18
Because we believe that there is both sufficient additional coverage through liability, which would cover in the in the question you were asking about earlier, liability would step in and cover
Selvena N. Brooks-Powers
2:15:28
that increase.
2:15:28
Hundred thousand?
Freddi Goldstein
2:15:29
Yes.
2:15:29
And then, there's also the uninsured, underinsured motorist coverage, that is available to passengers.
Eman Rimawi-Doster
2:15:35
And Do