Bill > HB2671

This bill amends the Illinois Vehicle Code to modify regulations regarding total loss claims for vehicles that are 9 model years or older. Specifically, the bill changes the existing law to clarify that if the registered owner of a vehicle 9 model years or older does not want to retain the vehicle after an insurance company has determined it to be a total loss, the insurance company must take possession of the vehicle. Previously, the law allowed for potential negotiation between the owner and the insurance company about vehicle retention. The bill ensures a more straightforward process for handling older vehicles that are deemed total losses, requiring the insurance company to take formal possession of the vehicle if the owner chooses not to keep it. This change aims to provide clearer guidelines for handling total loss claims for older vehicles and streamline the process for both vehicle owners and insurance companies. The bill represents a minor but specific adjustment to existing vehicle title and salvage regulations in Illinois.

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https://www.ilga.gov/legislation/BillStatus.asp?DocNum=2671&GAID=18&DocTypeID=HB&SessionID=114&GA=104