An insurer that issues or renews a private passenger motor vehicle insurance policy in the State shall give an actuarially justified discount in rate to each individual who has completed the immediately preceding 3 years of continuous coverage with that insurer without a moving traffic violation, with not more than one point, and with no chargeable traffic accident.

Added by Acts 1997, c. 35, § 2, eff. Oct. 1, 1997.

Formerly Art. 48A, § 240K.