On January 1, 2016, a new law goes into effect that creates some exciting new changes to Oregon’s automobile insurance law. SB 411, which was signed earlier this year by Governor Kate Brown, allows consumers to finally get the full benefit of the insurance coverage they have been paying for.
But you must act. The new law goes into effect on January 1, 2016, applying to new policies issued on or after that date, or existing policies that renew on or after that date. Therefore, if your policy doesn’t renew until April 1, 2016, and you get into an accident after the effective date of the law, but before your policy renews, you will not have this additional coverage. In order to get the full benefit of the coverage you have been paying for, you need to contact your insurance agent and tell them you want all your auto insurance policies to renew on January 1, 2016 so you are covered. Alternatively, if you are thinking about switching insurers, you should do so on January 1, 2016, or as shortly thereafter as possible.