Bill Text: NY S05510 | 2015-2016 | General Assembly | Introduced

New York Senate Bill 5510 (Prior Session Legislation)

Introduced

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.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2016-01-06 - REFERRED TO INSURANCE [S05510 Detail]

Download: New_York-2015-S05510-Introduced.html

                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         5510
                              2015-2016 Regular Sessions
                                   I N  S E N A T E
                                     May 14, 2015
                                      ___________
       Introduced  by  Sen.  FARLEY -- read twice and ordered printed, and when
         printed to be committed to the Committee 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