An Act Extending Coverage For Dealer Conveyance Fees For The Purchase Of Replacement Vehicles From The Proceeds Of Motor Vehicle Insurance Claims.
Impact
If enacted, HB 06055 would directly impact the operations of automobile insurance companies, mandating that they include these conveyance fees in their coverage. This could enhance consumer protection by ensuring that individuals do not face additional financial barriers when replacing vehicles. In the broader context of state law, it may influence insurance policy terms and contribute to changes in how insurance claims are processed within the state, potentially leading to increased scrutiny of insurance practices regarding coverage definitions.
Summary
House Bill 06055 aims to amend current statutes to require automobile insurance companies to cover conveyance fees charged by dealerships for the purchase of replacement vehicles made from the proceeds of motor vehicle insurance claims. This change seeks to alleviate the financial burden placed on consumers who find themselves needing to replace their vehicles due to mishaps covered by insurance policies. Currently, such fees can add significantly to out-of-pocket expenses for consumers after an insurance claim.