CO HB1074

Requires original equipment manufactured parts be used for repairs on vehicles with fewer than 10,000 miles that were purchased within one year before the loss date.

Eliminates insurers' ability to use "generally accepted insurer-based methodology" for determining repair costs and requires insurers to conduct market surveys of Colorado motor vehicle repair businesses by January 1, 2011, and every 3 years thereafter.

Requires insurers to adjust market prices for repair services by region based on market survey results, with the insurance commissioner authorized to adopt implementing rules.

Authorizes the insurance commissioner to establish rules setting a minimum threshold amount insurers must pay for a single at-fault accident before increasing premiums for any coverage on the policy.

Applies to automobile insurance policies in effect on or after the effective date, with the act taking effect 90 days after final adjournment of the 2010 legislative session (August 11, 2010).