| SB 0486 | Extends various types of automobiles insurance coverage to loaned or demonstration vehicles |
| Sponsor: | Dolan | |||
| LR Number: | 1644S.01I | Fiscal Note: | 1644-01 | |
| Committee: | Small Business, Insurance & Industrial Relations | |||
| Last Action: | 04/09/03 - Hearing Conducted S Small Business, Insurance and | Journal page: | ||
| Industrial Relations Committee | ||||
| Title: | ||||
| Effective Date: | August 28, 2003 | |||
SB 486 - This act modifies the law regarding insurance coverage for loaned and demonstration vehicles. Under the current law, every motor vehicle liability insurance policy must provide liability coverage to loaned motor vehicles operated by the insured. Under this act, other types of coverages are extended to loaned motor vehicles. In addition to liability insurance policies, the following types of automobile insurance policies must extend coverage to loaned motor vehicles and such motor vehicle's occupants:
1. principal damage insurance policies
2. uninsured and underinsured policies;
3. policies covering death or bodily injury.
The amount of coverage extended to the loan vehicle shall
not exceed the amount of coverage provided for the motor vehicle
being repaired or serviced. The coverage from such policies
shall be primary.
STEPHEN WITTE