Bill
Bill > H1070
MA H1070
Expanding automobile insurance coverage options to include the diminished value of automobiles
summary
Introduced
03/29/2021
03/29/2021
In Committee
03/07/2022
03/07/2022
Crossed Over
Passed
Dead
12/31/2022
12/31/2022
Introduced Session
192nd General Court
Bill Summary
Relative to expanding motor vehicle insurance coverage options to include the diminished value of automobiles. Financial Services.
AI Summary
This bill aims to expand automobile insurance coverage options to include the diminished value of vehicles resulting from a collision caused by a negligent third party. The bill amends the existing law to require insurers to offer optional coverage for the diminished value of an insured vehicle, in addition to coverage for loss of use. It also allows insurers to make direct payments to the insured for the diminished value prior to the completion of the vehicle's repair, subject to a plan approved by the insurance commissioner that includes a dispute resolution process and adequate disclosure of the insured's rights.
Committee Categories
Budget and Finance, Business and Industry
Sponsors (1)
Last Action
No further action taken (on 01/03/2023)
Official Document
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://malegislature.gov/Bills/192/H1070 |
| Bill | https://malegislature.gov/Bills/192/H1070.pdf |
Loading...