Bill Text: NY A07649 | 2015-2016 | General Assembly | Introduced

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Bill Title: Relates to the right of an insured to find a substantially similar vehicle to replace a vehicle which is determined to be a total loss, within a regional area.

Sponsorship: Partisan Bill (Republican 1)

Status: (Introduced - Dead) 2016-05-25 - held for consideration in insurance [A07649 Detail]

Download: New_York-2015-A07649-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         7649
                              2015-2016 Regular Sessions
                                 I N  A S S E M B L Y
                                     May 21, 2015
                                      ___________
       Introduced  by M. of A. TEDISCO -- read once and referred to the Commit-
         tee on Insurance
       AN ACT to amend the insurance law, in  relation  to  replacement  of  an
         automobile which is determined to be a total loss
         THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section 1. Section 3412 of the insurance law is amended  by  adding  a
    2  new subsection (i) to read as follows::
    3    (I)  WHENEVER AN INSURER DETERMINES A PRIVATE AUTOMOBILE TO BE A TOTAL
    4  LOSS, THE INSURED SHALL HAVE THE RIGHT TO REPLACE THE AUTOMOBILE WITH  A
    5  SUBSTANTIALLY SIMILAR VEHICLE THAT HE OR SHE LOCATES WITHIN THE REGIONAL
    6  AREA  USING APPROVED VALUATION MANUALS IN DETERMINING THE VALUE OF VEHI-
    7  CLES IN NEW YORK, PROVIDED THAT THE INSURED SHALL BEAR  ANY  TRANSPORTA-
    8  TION COSTS IN OBTAINING SUCH VEHICLE.
    9    S 2. This act shall take effect on the one hundred eightieth day after
   10  it shall have become a law.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD11090-01-5