ID S1212

Amends Idaho Code Section 41-2503 to define "underinsured motor vehicle" as a self-insured vehicle or one covered by liability insurance with limits at least equal to those in Idaho Code Section 49-117.

Makes underinsured motorist coverage excess coverage for new policies or first renewals/replacements effective on or after January 1, 2012, allowing recovery on top of the tortfeasor's insufficient coverage without reduction by amounts paid by tortfeasor's coverage or other coverage.

Caps underinsured motorist coverage recovery at the lesser of the total legal liability of the tortfeasor or the applicable underinsured coverage limits.

Leaves all other terms and conditions of motor vehicle liability insurance policies providing uninsured or underinsured motorist coverage unchanged.

Effective date: January 1, 2012.