Iowa SSB3154 establishes standards for settling motor vehicle insurance claims, emphasizing the use of original equipment manufacturer parts.

Iowa SSB3154 amends the state's insurance code to set standards for settling certain motor vehicle insurance claims. It mandates that insurers estimate repair costs and pay claims based on the cost of new original equipment manufacturer parts unless the vehicle owner consents in writing to use aftermarket crash parts or salvaged parts from the crashed vehicle. The insurer must also agree to cover any necessary modifications and indemnify the owner and repair facility against related claims. The bill also outlines penalties for violations, including fines and potential license suspension.

Iowa SSB3154 establishes standards for settling motor vehicle insurance claims, emphasizing the use of original equipment manufacturer parts.

Iowa SSB3154 amends the state's insurance code to set standards for settling certain motor vehicle insurance claims. It mandates that insurers estimate repair costs and pay claims based on the cost of new original equipment manufacturer parts unless the vehicle owner consents in writing to use aftermarket crash parts or salvaged parts from the crashed vehicle. The insurer must also agree to cover any necessary modifications and indemnify the owner and repair facility against related claims. The bill also outlines penalties for violations, including fines and potential license suspension.