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Bill > S629
MA S629
MA S629Expanding automobile insurance coverage options to include the diminished value of automobiles
summary
Introduced
01/22/2019
01/22/2019
In Committee
01/22/2019
01/22/2019
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
191st General Court
Bill Summary
For legislation to expand automobile insurance coverage options to include the diminished value of automobiles. Financial Services.
AI Summary
This bill expands automobile insurance coverage options to include compensation for the diminished value of a vehicle resulting from a collision caused by an identified negligent third party. Specifically, it amends existing law to require insurers to offer optional coverage for diminished value and to allow insurers to make direct payments to policyholders for diminished value prior to the completion of repairs, subject to certain requirements and oversight by the insurance commissioner.
Committee Categories
Business and Industry
Sponsors (2)
Last Action
Accompanied a study order, see S2543 (on 02/18/2020)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://malegislature.gov/Bills/191/S629 |
| Bill | https://malegislature.gov/Bills/191/S629.pdf |
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