Bills › 90th General Assembly
Relating to automobile liability policy incentives for persons who install a speed governing device on an insured automobile
Topics:Business & economy
Same legislation: SSB 1182
Where it is now
- Done: IntroducedFebruary 6, 2023
- Done: SubcommitteeFebruary 13, 2023
- Stopped: Senate committeeDied when the General Assembly ended
- Next: Passes the Senate
- Next: House committee
- Next: Passes the House
- Next: To the Governor
- Next: Signed into law
Died when the session ended The 2024 session adjourned on April 19, 2024, the General Assembly’s last regular session. Bills that didn’t pass both chambers died. What’s a funnel?
What’s in it
AI summary Insurance companies in Iowa cannot raise your rates or cut your coverage if you prove you installed a device that limits how fast your car can go. Your premium freeze starts as soon as you show the company proof that the device is installed. However, if you get into a crash and it turns out the device wasn't actually working or installed, you will have to pay the difference in the higher premium.1
Read the official explanation
This bill prohibits an insurance company transacting business in Iowa from increasing the premiums of, or reducing services provided to, an insured customer who installs a speed governing device on an insured automobile and provides proof of such installation to the insurance company. The premium freeze goes into effect at the time the customer provides proof of installation of the speed governing device to the insurance company. A person who receives a premium freeze under the bill must pay the insurance company an amount equal to any increase in premiums that otherwise would have applied to the customer if the insured automobile is involved in a crash or collision and it is discovered that the automobile was not connected to a speed governing device at the time of the crash or collision. A “speed governing device” is defined in the bill to mean a device that measures and regulates the speed of an automobile on which it is installed and that prevents the automobile from exceeding miles per hour.
Senate subcommittee
Named February 13, 2023. It hasn’t reported yet.
Three legislators hear a bill first and recommend what the committee should do; it’s the best time to weigh in. How to take part
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90th General Assembly