Oklahoma SB1920 increases the damage threshold for vehicle salvage titles and updates related procedures.

Oklahoma SB1920 amends the state's motor vehicle insurance laws by increasing the percentage of damage required for a vehicle to be considered a total loss and thus receive a salvage title. The bill specifies that if the cost of repairing a vehicle for safe operation exceeds 70% of its market value, the vehicle will be classified as a total loss. The bill also outlines procedures for vehicle inspections, title transfers, and the handling of flood-damaged vehicles. It includes provisions for penalties for non-compliance and updates statutory language to reflect these changes.

Oklahoma SB1920 increases the damage threshold for vehicle salvage titles and updates related procedures.

Oklahoma SB1920 amends the state's motor vehicle insurance laws by increasing the percentage of damage required for a vehicle to be considered a total loss and thus receive a salvage title. The bill specifies that if the cost of repairing a vehicle for safe operation exceeds 70% of its market value, the vehicle will be classified as a total loss. The bill also outlines procedures for vehicle inspections, title transfers, and the handling of flood-damaged vehicles. It includes provisions for penalties for non-compliance and updates statutory language to reflect these changes.