INSURANCE POLICIES: Provides for uninsured and underinsured motorist insurance. (8/1/24)

This bill updates Louisiana laws regarding uninsured and underinsured motorist coverage for automobile liability insurance. It mandates that most standard auto policies sold in the state must include this coverage unless the policyholder explicitly rejects it or chooses lower limits using a specific form provided by the insurer. The law clarifies that this requirement applies to accidents involving residents of the state and includes special rules for commercial auto policies and school buses, where coverage can be limited to incidents involving the specific vehicle. Additionally, the bill establishes that a properly signed rejection form remains valid for the life of the policy, simplifying the process for renewals or policy changes.