Legislation to preserve competition in the marketplace for aftermarket auto parts will help keep repair costs low by promoting consumer choice, according to the National Association of Mutual Insurance Companies (NAMIC).
The Save Money on Auto Repair Transportation, or SMART Act, which was reintroduced last week, would limit the design patent on an auto repair part to 30 months.
“The costs of auto repairs have skyrocketed in recent years, and the price and availability of repair parts have been a major factor in those increases,” said Jimi Grande, senior vice president of federal and political affairs for NAMIC. “Competition
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