Motor Vehicle Insurance Modernization Amendment Act of 2024

This bill updates the District of Columbia's automobile insurance laws to increase minimum coverage limits and modernize how those limits are adjusted over time. It raises the mandatory minimum liability coverage from $25,000/$50,000 to $50,000/$100,000 and increases property damage coverage to $20,000, while also establishing a mechanism to automatically adjust these amounts every five years starting in 2028. Additionally, the legislation requires insurers to offer both standard and enhanced underinsured motorist protection, removing the option for drivers to completely waive these coverages. These changes aim to ensure that insurance policies keep pace with the rising costs of medical care and vehicle repairs.