Three Rhode Island bills filed in the state’s legislature could impact the collision repair industry. 

The House Corporations Committee decided Tuesday to further study HB 5571. The bill was introduced Feb. 26. 

The bill increases the amount of damage that requires an appraisal performed by a licensed appraiser to $5,000 from $2,500. It also increases the time in which appraisals must be completed to four business days from three. 

Another bill, H 5572, was held Tuesday for further study by the committee. The bill was introduced Feb. 26. 

The bill adds a definition for “consumer accessible fair market value”  to the state’s Unfair Claims Settlement Practices Act. 

Under the bill, the valuation would have to meet the following requirements: 

• • Publicly available or accessible via electronic or print 
  • Commonly used by the automotive industry and car-buying public
  • VIN-specific
  • Reflects a vehicle’s unique and widely available characteristics, including but not limited to trim and options, prior damage, prior service, and prior ownership information

A third bill, H 6053, was also held for further study by the committee on Tuesday. It was introduced March 12. 

The bill increases the total loss threshold. Vehicles would be total losses if the cost to rebuild or reconstruct them to pre-accident condition is less than 85% of the fair market value. The current threshold is 75%.

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Feature photo of Rhode Island State House courtesy of Alex Potemkin/iStock