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Nevada Bill Would Increase Total Loss Threshold

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The Nevada Assembly is considering a bill that would change the definition of total loss vehicle by increasing the damage threshold.

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A.B. 447 mandates that repairs to a damaged vehicle would have to cost at least 100 percent of the vehicle’s fair market value at the time of the crash for the vehicle to be deemed a total loss. Currently, a total loss is declared when repairs cost 65 percent of the vehicle’s fair market value.

Per Nevada law, vehicles over 10 years old are exempt from the definition. If passed, the bill would be effective July 1, 2009.

Kentucky’s governor recently signed a bill into law that removes airbag-related costs from total loss calculations. Click HERE to read more.

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