Raises minimum amount of liability coverage for commercial motor vehicles and autocabs.*

This bill increases minimum liability insurance coverage requirements for commercial vehicles in New Jersey. It establishes a new $300,000 minimum coverage limit for commercial motor vehicles weighing 10,001-26,000 pounds (e.g., many delivery trucks), while maintaining a $1.5 million minimum for larger commercial vehicles and autocabs (taxi services). The law updates existing standards, requiring insurers to notify policyholders of increased coverage needs upon renewal without needing new signed forms. These changes directly affect commercial vehicle operators, including trucking companies and taxi services, who must meet the higher insurance thresholds.