Bill > SB131

This bill amends Ohio Revised Code section 2315.18 to provide more detailed guidance for calculating compensatory damages specifically for damaged vehicles in tort actions. The bill introduces a comprehensive framework for determining vehicle damage compensation that includes multiple criteria: (1) the difference in the vehicle's fair market value before and after damage, (2) the cost of repairs (not exceeding the market value difference), (3) compensation for loss of vehicle use during repairs, (4) accounting for potential reduced market value after repairs due to accident history, and (5) full market value compensation if the vehicle is unrepairable (calculated as the difference between pre-damage market value and salvage value). Additionally, the bill clarifies subrogation rules for insurance companies, stipulating that insurers can only recover amounts actually distributed to an insured and must pass along any excess recovery to the insured. The legislation maintains existing provisions regarding limitations on noneconomic damages while providing more precise guidance for vehicle damage assessment, ultimately aiming to create a more standardized and transparent method for calculating vehicle damage compensation in legal proceedings.

Justice

https://www.legislature.ohio.gov/legislation/136/sb131