ID H0474

Defines "underinsured motor vehicle" for coverage purposes as a self-insured vehicle or one covered by liability insurance with limits at least equal to those in Idaho Code section 49-117

Establishes that underinsured motorist coverage issued or renewed on or after July 1, 2020 functions as excess coverage that cannot be reduced by amounts paid by the tortfeasor's coverage or other sources

Limits recovery under underinsured motorist coverage to the lesser of the tortfeasor's total legal liability or the applicable policy limits

Exempts motor vehicle insurance policies in effect before July 1, 2020 from these new provisions

Authorizes the Department of Insurance to promulgate rules implementing and enforcing the underinsured motorist coverage provisions