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Senate approves consumer protections for vehicle value and protection products, 33–0
Summary
The Ohio Senate unanimously passed Senate Bill 65 to create a statutory framework for vehicle value protection products, gap‑type coverage and related consumer protections. Sponsors said the bill expands choices and strengthens disclosure and refund rules.
COLUMBUS — The Ohio Senate on June 10 unanimously approved Senate Bill 65, a measure that establishes a statutory framework for motor vehicle financial protection products such as gap coverage, excess wear‑and‑use waivers and trade‑value protection agreements.
Sponsor Senator Lang said the bill consolidates existing code sections, clarifies key definitions, strengthens consumer disclosures and cancellation/refund rules, and requires financial assurance for providers. The sponsor noted that similar laws exist in 25 other states and that the measure aims to give buyers more options while protecting consumers from surprise losses.
Senator Craig supported the bill on the Senate floor, saying the legislation would help Ohioans protect a major household asset — a vehicle — and add guardrails for optional products sold through dealers or finance arrangements.
The bill passed the Senate by voice/recorded vote and was recorded as 33 ayes, 0 nays. It will proceed to the House for further consideration.
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Provenance: floor introduction and final passage recorded in the Senate transcript.
