GA HB187

Creates new regulatory framework for vehicle value protection agreements, which provide benefits to consumers when adverse events occur to their covered vehicles (includes trade-in agreements, diminished value agreements, cash down payment protection, and depreciation benefit agreements)

Requires providers to maintain financial security through one of three options: insurance policy backed by an insurer with at least $15 million in capital/surplus, a funded reserve account of at least 40% of net receipts plus security deposit with the Commissioner of Insurance, or net worth of at least $100 million

Mandates a minimum 30-day free look period during which consumers can cancel for a full refund if no benefits have been used, and requires conspicuous disclosure of cancellation rights on the first page of the agreement

Prohibits conditioning vehicle finance or purchase agreements on the consumer entering into a vehicle value protection agreement, and requires providers to give consumers access to a copy of their agreement

Authorizes the Attorney General to enforce violations with civil penalties up to $2,500 per violation, seek injunctions, obtain damages and restitution for consumers, and pursue remedies under the Fair Business Practices Act of 1975