2005-2006 Bill 132: Vehicle Insurance Extended to Loaner Or Demonstrator Vehicle - South

South Carolina General Assembly

116th Session, 2005-2006

S. 132

STATUS INFORMATION

General Bill

Sponsors: Senators Leatherman, Elliott and Ryberg

Document Path: l:\s-res\hkl\009mvin.mrh.doc

Introduced in the Senate on January 11, 2005

Currently residing in the Senate Committee on Banking and Insurance

Summary: Vehicle insurance extended to loaner or demonstrator vehicle

HISTORY OF LEGISLATIVE ACTIONS

DateBodyAction Description with journal page number

12/15/2004SenatePrefiled

12/15/2004SenateReferred to Committee on Banking and Insurance

1/11/2005SenateIntroduced and read first time SJ147

1/11/2005SenateReferred to Committee on Banking and InsuranceSJ147

VERSIONS OF THIS BILL

12/15/2004

A BILL

TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 38-77-225, TO EXTEND VARIOUS MOTOR VEHICLE INSURANCE COVERAGES TO “LOANER” VEHICLES AND DEMONSTRATOR VEHICLES AND PROVIDE FOR RELATED MATTERS.

Be it enacted by the General Assembly of the State of South Carolina:

SECTION1.Chapter 77, Title 38 of the 1976 Code is amended by adding:

“Section 38-77-225.Notwithstanding any other provision of law, every motor vehicle liability insurance policy, every motor vehicle physical damage insurance policy, every motor vehicle uninsured and underinsured motorist insurance policy, and every motor vehicle insurance policy covering death or bodily injury insuring a motor vehicle licensed in this State or the occupants of the motor vehicle shall extend their liability, physical damage, uninsured, and underinsured motorist and death or bodily injury coverages to include any other motor vehicle operated by the insured individual and its occupants if the other motor vehicle is loaned by a licensed automobile dealer as a temporary substitute, with or without compensation, to the insured individual for use as a temporary substitute vehicle while the insured’s vehicle is out of use because of breakdown, repair, or servicing, or if the other motor vehicle is loaned by a licensed automobile dealer for use as a demonstrator vehicle or for an overnight test drive. However, coverage extends to the loaned or demonstrator vehicle only to the extent of the coverage provided, if any, to the automobile being repaired, serviced, or in the case of a vehicle loaned for an overnight test drive, the vehicle left at the dealership by the owner as security for the test drive vehicle. These extensions of liability, physical damage, uninsured, and underinsured motorist and death or bodily injury coverages are primary.”

SECTION2.This act takes effect upon approval by the Governor and applies to all policies of insurance issued or renewed on and after the effective date of this act.

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