Section 1010.550  Determining Age of Vehicle

a)         When a salvage vehicle must be inspected by the Secretary of State Police under IVC Section 3-308, the age of the vehicle is to be determined by subtracting the model year of the vehicle from the calendar year of inspection.

b)        Ownership of Salvage Vehicle

1)         Pursuant to IVC Section 3-117.1, when an insurance company makes a payment of damages on a total loss claim for a vehicle, the insurance company shall be deemed the owner of the vehicle and the vehicle shall be considered to be salvage, except as provided in subsection (b)(2).

2)         Ownership of the following vehicles may, by agreement between the registered owner and the insurance company, be retained by the registered owner of the vehicle:

A)        a vehicle that has incurred only hail damage that does not affect the operational safety of the vehicle; or

B)        a vehicle that is 9 model years of age or older.  

3)         To determine whether a vehicle is 9 model years of age or older, the model year of the vehicle shall be subtracted from the calendar year in which the insurance company makes a payment of damages. 

(Source:  Added at 35 Ill. Reg. 8240, effective May 16, 2011)