Low-Speed Vehicles

State of New Jersey DEPARTMENT OF BANKING AND INSURANCE LEGISLATIVE AND REGULATORY AFFAIRS PO BOX 325 TRENTON, NJ 08625-0325 JON S. CORZINE STEVEN M. GOLDMAN Governor TEL (609) 984-3602 FAX (609) 292-0896 Acting Commissioner Visit us on the Web at www.njdobi.org New Jersey is an Equal Opportunity Employer • Printed on Recycled Paper and Recyclable BULLETIN NO. 06-09 TO: All Property Casualty Insurance Companies and Rating Organizations FROM: Steven M. Goldman, Acting Commissioner Department of Banking and Insurance RE: Low-Speed Vehicles – P.L. 2005, c. 273 P.L. 2005, c. 273, effective April 6, 2006 provides that low-speed vehicles are permitted on any public road or highway under the jurisdiction of the Department of Transportation with a posted speed of 25 miles per hour or less. Additionally, the Act provides that low-speed vehicles are required to be properly insured in accordance with the provisions of N.J.S.A. 39:3-4. The Department of Banking and Insurance recognizes that insurers currently do not provide coverage for this particular type of risk. Therefore, as of April 6, 2006, coverage for low-speed vehicle will be provided through the New Jersey Personal Automobile Insurance Plan (PAIP). Insurers that wish to write this type of risk shall submit to the Department’s Property Casualty Unit for approval a Rating System which shall include the following basic minimum coverage limits: Bodily Injury $15,000 - $30,000 Property Damage $ 5,000 Uninsured Motorist Same as liability Pedestrian PIP Any questions on this Bulletin may be directed to Ms. Anna Saldan, Manager, Office of Property Casualty at (609) 984-7310, ext. 50361. 3/14/06 /s/ Steven M. Goldman Date Steven M. Goldman Acting Commissioner DHT06-01/inoord