RI S3115

Increases the total loss threshold from 80% to 85% of fair market value, meaning insurers cannot declare a vehicle totaled unless repair costs reach at least 75% to 85% of the vehicle's pre-accident fair market value

Consumers retain the option to designate their vehicle a total loss when repair costs fall between 75% and 85% of fair market value

Insurers remain prohibited from being required to total a vehicle if repair costs exceed 85% of fair market value, and may still agree to total a vehicle below 85% with the owner's written authorization

Amends Section 27-9.1-4 of Rhode Island's Unfair Claims Settlement Practices Act

Takes effect upon passage