For those of you that are not waiting with anticipation to find out what changes Oregon has made to insurance laws for this year, two that are important to note specifically for my customers are the changes to the required Property Damage (PD) limits and Personal Injury Protection (PIP) coverage that is available.

Under the old laws, each vehicle was required to carry a minimum of $10,000 in PD limits.  Beginning January 1, 2010 the minimum limit has been increased to $20,000.  All insurance policies that renew or are written after December 31, 2009 will be written or renewed at the higher limit.  Yes, this means your premium will increase a little (but not very much).  It also means that if you are in an accident, your policy will automatically cover up to $20,000 in property damage.  In layman's terms that means if you total out the other guy's Honda and it is worth $15,000, under the old laws the insurance company would pay up to the policy limit ($10,000) and you had to pay the other $5,000 yourself.  Now, the insurance company would pay up to the policy limits, or in this example the entire $15,000.

Generically speaking, PIP coverage pays for injury and other costs that can be associated with a claim (please refer to your specific policy).  The maxiuum amount available in Oregon was $15,000.  While some policies continue to offer $15,000 many can now offer higher limits.

Give us a call at Pulse Insurance - 503-489-3143, or stop by and see us at 4239 SE 182nd AVE in the Powell Vista Shopping Center.