Transferring ownership of a vehicle to an insurer under certain circumstances.

SB 6265 streamlines vehicle ownership transfers to insurers after a total loss by requiring insurers to report such losses to Washington’s Department of Licensing within 15 days, using electronic systems, specific forms, or affidavits. It eliminates the need for notarized signatures on documents transferring ownership, allowing electronic signatures and printed copies for this purpose. The bill also establishes a $6,790 market value threshold (adjusted annually based on used car price trends) for vehicles six years or older, requiring owners to confirm if the vehicle’s value met this threshold before reporting. This affects vehicle owners, insurers, and the Department of Licensing by simplifying documentation and updating value-based reporting requirements.