Bill Title: Amends the Illinois Insurance Code. Provides that upon the determination of a total loss of an insured vehicle, the insurance company shall provide the insured with a brief description of how that determination was made, including any available repair estimate, estimated vehicle salvage value, assessed market value, and other costs and calculations used. Provides that the provisions apply to policies issued or renewed on or after July 1, 2025.

Spectrum: Moderate Partisan Bill (Democrat 9-1)

Status: (Passed) 2024-07-01 - Effective Date January 1, 2025 [HB5559 Detail]

Text: Latest bill text (Chaptered) [HTML]

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