Revision: Jan. 21, 2010, midnight
HB 274 – AS INTRODUCED
2005 SESSION
03/04
HOUSE BILL 274
AN ACT relative to notice of the availability of automobile gap insurance.
SPONSORS: Rep. Hinkle, Hills 19; Rep. D.L. Christensen, Hills 19
This bill requires notice of the availability of automobile gap insurance upon application for motor vehicle insurance.
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
Explanation: Matter added to current law appears in bold italics.
Matter removed from current law appears [in brackets and struckthrough.]
Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
05-0749
03/04
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Five
AN ACT relative to notice of the availability of automobile gap insurance.
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 New Section; Regulation of Forms and Rates; Motor Vehicle Insurance; Notice of Gap Insurance. Amend RSA 412 by inserting after section 8 the following new section:
412:8-a Notice of Gap Insurance. Any insurance broker, sales agent, or insurance company representative shall, upon accepting an application for motor vehicle insurance, offer the applicant guaranteed auto protection (gap) insurance. Gap insurance shall cover the difference between what the applicant owes on the vehicle and the vehicle’s fair market value if the vehicle is involved in an accident or is stolen. If the applicant declines gap insurance, the broker, agent, or representative shall ask the applicant to sign a waiver, one copy of which shall be kept in the insurance company’s file and one copy of which shall be provided to the applicant. If the insurance company does not offer gap insurance, the broker, agent, or representative shall so notify the applicant and request the applicant to sign a waiver.
2 Effective Date. This act shall take effect 60 days after its passage.