§431:10C-310  Total loss motor vehicle
claims:  replacement.  When an insurer elects under section 431:10C-309 to
offer the insured a replacement vehicle as defined in section 431:10C-103, the
insurer shall comply with the following requirements:



(1)  The claim file, which is maintained by the
insurer, shall contain a description of the replacement vehicle, including the
vehicle identification number and a schedule of options;



(2)  Replacement vehicles of the current model plus
the three previous model years shall be purchased through motor vehicle dealers
licensed under chapter 437.  This requirement may be waived in writing by the
insured.  The signed waiver shall be maintained in the insurer's claim file;



(3)  If the insurer offers a replacement vehicle to
the insured and the insured rejects the offer and elects a cash settlement
instead of the replacement vehicle, the insurer need pay only the amount it
would have otherwise paid on the replacement vehicle.  Evidence of the
insured's rejection shall be apparent in the file; and



(4)  If the insurer offers a replacement vehicle to
the insured and the insured rejects the offer and wants another vehicle
substantially similar in value, the insurer need pay only the amount it would
have otherwise paid on the replacement vehicle.  The insurer shall maintain in
the claim file the insured's written waiver that the acceptance of another
vehicle is of the insured's own free will and choice. [L 1987, c 347, pt of §2;
am L 1997, c 251, §48]