SB 0724 Auto Insurance Discount for Elderly
LR Number:S1895.01I Fiscal Note:1895-01
Committee:Insurance and Housing
Last Action:01/31/96 - Hearing Conducted S Insurance & Housing Committee
Effective Date:August 28, 1996
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Current Bill Summary

SB 724 - This act requires insurance companies to reduce premium charges on motor vehicle policies when a 55-year old driver has completed an accident prevention course. The reduction shall be good for three years, during which the insured may be required to stay accident-free. After three years the course must be retaken to continue the reduction. The amount of the discount shall be determined by the insurer unless credible data demonstrates otherwise.