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Bill > H588


MA H588

Expanding automobile insurance coverage options to include the diminished value of automobiles


summary

Introduced
01/23/2017
In Committee
01/23/2017
Crossed Over
Passed
Dead
12/31/2018

Introduced Session

190th General Court

Bill Summary

By Mr. Walsh of Framingham, a petition of Chris Walsh and others that automobile insurance coverage options include the diminished value of vehicles. Financial Services.

AI Summary

This bill seeks to expand automobile insurance coverage options to include the diminished value of vehicles. Specifically, it amends the existing law to require insurers to offer optional coverage for the diminished value of an insured vehicle resulting from a collision caused by an identified negligent third party. Additionally, it requires insurers to file a plan for direct payment to the insured for the diminished value of the vehicle, even before the insured completes the repair work, subject to certain conditions approved by the insurance commissioner.

Committee Categories

Business and Industry

Sponsors (5)

Last Action

Accompanied a study order, see H4778 (on 07/18/2018)

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