Companion measures amending the state’s Unfair Claims Settlement Practices Act took effect June 26, the second consecutive year Rhode Island has lifted its total-loss ceiling.
Rhode Island has raised the threshold at which an insurer may declare a damaged vehicle a total loss to 85% of its pre-accident fair market value, up from the 80% ceiling set in state law less than a year ago. Two companion bills amending the state’s Unfair Claims Settlement Practices Act became law June 26 without Gov. Dan McKee’s signature.
For collision repair facilities, the 5-percentage-point increase directs additional work to shops by allowing more
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