Establishes a minimum damage threshold for declaring a motor vehicle a total loss in South Dakota.

South Dakota SB227 sets a minimum damage threshold for insurers to declare a motor vehicle a total loss. An insurer cannot declare a vehicle a total loss due to damage unless the repair cost meets or exceeds 75% of the vehicle's actual cash value before the damage. The actual cash value considers the vehicle's year, make, model, accessories, normal deterioration, odometer reading, and accident history. This applies to damage from collisions, fire, vandalism, weather, or other perils.

Establishes a minimum damage threshold for declaring a motor vehicle a total loss in South Dakota.

South Dakota SB227 sets a minimum damage threshold for insurers to declare a motor vehicle a total loss. An insurer cannot declare a vehicle a total loss due to damage unless the repair cost meets or exceeds 75% of the vehicle's actual cash value before the damage. The actual cash value considers the vehicle's year, make, model, accessories, normal deterioration, odometer reading, and accident history. This applies to damage from collisions, fire, vandalism, weather, or other perils.