(a)The total amount of the renter's liability to
the rental company resulting from damage to the rented vehicle may
not exceed the sum of the following:
(1)The estimated cost of replacement parts that the rental
company would have to pay to replace damaged vehicle parts, less
all discounts and price reductions or adjustments that will be
received by the rental company.
(2)The estimated cost of labor to replace damaged vehicle parts,
which may not exceed the product of:
(A)the rate for labor usually paid by the rental company to
replace vehicle parts of the type that were damaged; and
(B)the estimated time for replacement;
less all discounts and price reductions or adjustments that will be
received by the rental company.
(3)The estimated cost of labor to repair damaged vehicle parts,
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(a) The total amount of the renter's liability to
the rental company resulting from damage to the rented vehicle may
not exceed the sum of the following:
(1) The estimated cost of replacement parts that the rental
company would have to pay to replace damaged vehicle parts, less
all discounts and price reductions or adjustments that will be
received by the rental company.
(2) The estimated cost of labor to replace damaged vehicle parts,
which may not exceed the product of:
(A) the rate for labor usually paid by the rental company to
replace vehicle parts of the type that were damaged; and
(B) the estimated time for replacement;
less all discounts and price reductions or adjustments that will be
received by the rental company.
(3) The estimated cost of labor to repair damaged vehicle parts,
which may not exceed the lesser of the following:
(A) The product of the rate for labor usually paid by the rental
company to repair vehicle parts of the type that were damaged
and the estimated time for repair.
(B) The sum of the estimated labor and parts costs determined
under subdivisions (1) and (2) to replace the same vehicle parts.
All discounts and price reductions or adjustments that will be
received by the rental company must be taken into account in
determining the figure under this subdivision.
(4) Except as otherwise provided for, the loss of the use of the
rented vehicle, which may not exceed the product of:
(A) the rental rate stated in the rental agreement for the
particular vehicle rented, excluding optional charges; and
(B) the total of the estimated time for replacement and
estimated time for repair.
(5) Actual charges for towing, storage, and impound fees paid by
the rental company.
(b) Under any circumstances described in this chapter, liability for
the rental company's loss of use of the rented vehicle may not exceed
the product of:
(1) the rental rate stated in the rental agreement for the particular
vehicle rented, excluding all optional charges; and
(2) eighty percent (80%) of the period from the date of the
accident to the date the vehicle is ready to be returned to rental
service.
However, a renter is not liable to a rental company for the loss of use
of a damaged vehicle unless the rental company uses its best efforts to
effect repairs and return the vehicle to rental service.
(c) The administrative charge described in section 13(9) of this
chapter may not exceed:
(1) fifty dollars ($50) if the total estimated cost for parts and labor
is less than five hundred dollars ($500);
(2) one hundred dollars ($100) if the total estimated cost for parts
and labor is at least five hundred dollars ($500) and less than one
thousand five hundred dollars ($1,500); or
(3) one hundred fifty dollars ($150) if the total estimated cost for
parts and labor is at least one thousand five hundred dollars
($1,500).