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HB 5505

Relating to minimum limits for motor vehicle insurance coverage

2026 Regular Session Introduced by Jonathan Kyle

West Virginia HB 5505 would raise the minimum liability insurance limits for proving financial responsibility, effective upon policy renewal after transition periods.

To House Banking and Insurance
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Bill Summary · HB 5505

Summary: HB 5505 (2026) — Relating to minimum limits for motor vehicle insurance coverage (West Virginia)

Purpose

HB 5505 aims to increase the minimum liability insurance requirements (proof of financial responsibility) for motor vehicles in West Virginia. The bill would modify the statutory minimums governing what an insured party must demonstrate they can pay in damages after an automobile accident.

Key provisions and changes

  • Current baseline and proposed change
    The bill would alter the defined minimum amounts of liability coverage that constitutes "proof of financial responsibility." Specifically:

    • The new minimums would be:
    • $20,000 for bodily injury to one person in any single accident.
    • $40,000 for bodily injury to two or more persons in any single accident (per-accident total).
    • $10,000 for injury to or destruction of property of others in any single accident.

  • Procedural notes and transition

    • The bill references a prior structure (existing law prior to 2016, and adjustments made thereafter). It does not directly repeal the existing higher thresholds; instead, it proposes a return to the new (higher) minimums if enacted.
    • The law contains transitional language tied to prior policy years:
    • For policies in effect on December 31, 2015, the prior higher minimums (e.g., $100,000 for one person; $300,000 for two or more; $100,000 property damage) would continue to apply to those policies through expiration or renewal.
    • For policies in effect on December 31, 2026, the minimums would align with the new (a) level and would continue to provide adequate proof of financial responsibility until the policy expiration or renewal.

  • Effect on existing policies

    • If a policy is in effect and renewed after December 31, 2026, it would be required to meet the new minimums established in subdivision (a) upon renewal, assuming the bill passes.
    • Policies in effect before 2026 with the prior higher limits (as of 2015) could retain those higher limits until renewal, as described.

Who would be affected

  • Drivers and vehicle owners: Those required to carry automobile liability insurance and provide proof of financial responsibility would be subject to the updated minimum liability limits upon policy renewal (per the transition rules outlined).
  • Insurance providers: Must ensure offered/renewed policies meet the revised minimums starting at renewal after the applicable transition periods.
  • Policyholders with existing high-coverage policies: Some may retain their existing higher limits until policy expiration/renewal, per transitional language.

Procedural and timeline aspects

  • Introduced and referred: Filed February 13, 2026; referred to House Finance (and initially to House Banking and Insurance in the action history).
  • Effective date considerations: The bill text does not specify an immediate effective date; rather, it describes future applicability tied to policy renewals and a transition for policies in effect as of specified dates (2015 and 2026).
  • Legislative status: As of the provided history, the bill was introduced and moved to the Finance committee, with co-sponsor Jonathan Kyle.

Summary of impact

  • The bill would raise the required minimum liability coverage amounts for proving financial responsibility for motor vehicle accidents, shifting expectations toward higher coverage levels upon renewal after the specified transition. This could improve potential recovery limits for injured parties but may affect affordable coverage considerations for some insured individuals and the pricing of policies by insurers. The transitional provisions attempt to balance continuity for existing high-limit policies with the goal of progressively increasing minimums for future coverage.

If you’d like, I can compare these proposed minimums to current WV minimums and to typical national benchmarks, or outline potential fiscal/market implications for consumers and insurers.

Compiled from official sources — confirm details with the bill’s official record.

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