GA HB504

Establishes regulatory framework for vehicle value protection agreements, which provide benefits to consumers when adverse events (damage, total loss, theft) affect their covered vehicle's trade-in or replacement value

Requires providers to maintain financial security through one of three options: insurance policy backed by insurer with at least $15 million capital/surplus, funded reserve account of at least 40% of net receipts plus $25,000+ security deposit, or net worth of at least $100 million

Mandates minimum 30-day free look period during which consumers can cancel for a full refund if no benefits have been used, with conspicuous disclosure requirements on the first page of agreements

Prohibits conditioning vehicle financing or purchase agreements on consumer purchase of a vehicle value protection agreement, and requires any dealer-return requirement to be separately signed

Authorizes Attorney General enforcement with civil penalties up to $2,500 per violation, and classifies violations as unfair business practices under Georgia's Fair Business Practices Act of 1975