NJ S2993

Prohibits motor vehicle liability insurers from limiting recovery amounts for insured persons (including named insureds and permissive users) to less than the maximum policy limits for bodily injury, property damage, uninsured/underinsured motorist coverage, and medical payments

Defines "permissive user" as a person granted temporary permission by a vehicle owner to operate the vehicle who is not named on the insurance policy

Requires that when a policy covers multiple vehicles, permissive users receive the coverage limits associated with the specific vehicle they were using when the loss occurred

Preserves insurers' ability to enforce applicable policy exclusions and limits recoveries to damages actually sustained

Takes effect 90 days after enactment and applies to automobile insurance policies initiated or renewed on or after that date