CT HB05293

Requires sellers and finance companies to send insurance policies or certificates to retail buyers within 15 days of contract execution, clearly stating premiums, coverage types, terms, exceptions, and conditions.

Upon repossession of goods, the contract holder must refund all unearned insurance premiums and apply the refund toward the buyer's remaining obligations.

Prohibits delinquency and collection charges from including telephone or internet payment service fees, and excludes installment loan contracts regulated under sections 36a-555 to 36a-573 from delinquency charges.

Requires notice of intent to repay at least 10 days before repossession, specifying the default date, dollar amount needed to cure, and payment deadline; modifies repossession procedures for motor vehicles to use "highest-stated" values from NADA guides instead of "average" values when calculating fair market value.

Establishes that retail buyers cannot be held liable for deficiency balances after repossession, except for motor vehicles and boats with cash prices exceeding $2,000, and prohibits waiver of buyer protections in repossession procedures.