IL SB1785

Increases the maximum liability cap for vehicle renters in theft cases from a fixed $2,000 to the actual and reasonable costs up to the fair market value of the vehicle, as calculated by commonly accepted methods.

Maintains existing liability limits for damage claims (repair costs or fair market value, whichever is less) while removing the prior $2,000 cap that applied only to theft losses.

Requires rental companies to obtain repair estimates and make them available to renters and their insurers before collecting damage claims.

Prohibits rental companies from requiring advance deposits or charges on credit cards for vehicle damage and prevents collection until damage costs and liability are agreed upon or legally determined.

Takes effect January 1, 2014.