MADISON, Wis. (WSAU) – Governor Walker has signed a bill that will lower car insurance rates by eliminating higher coverage minimums that were passed in the 2009 state budget.
It will take six months before the coverage minimums are rolled back. The law still requires you to carry auto insurance.
“Repealing this anti-consumer mandate is good for middle class Wisconsinites and small businesses,” Walker said in a signing statement.
The law increased coverage mandates from $25,000 for causing injury or death to one person to $50,000; from $50,000 for two people to $100,000; and from $10,000 for property damage to $15,000. The bill Walker signed repeals those increases.
Democrats in charge at the time said drivers needed the extra coverage to pay for higher medical bills from traffic accidents. But Republicans saw it as a favor to trial lawyers – and both they and the insurance industry said it would cause higher premiums for thousands of drivers.