Motor Vehicles - As introduced, enacts the "Tennessee Vehicle Value Protection Product Act." - Amends TCA Title 47; Title 55 and Title 56.

SB 2342, the "Tennessee Vehicle Value Protection Product Act," establishes rules for agreements that cover diminished vehicle value after accidents, total loss, or theft. It requires these agreements (sold by dealers or providers) to clearly state benefits, guarantee obligations with insurance, and prohibit dealers from making vehicle sales contingent on purchasing them. The law directly affects car buyers (contract holders), dealers, and providers by mandating transparency about costs, refunds, and coverage terms. Key provisions include requiring agreements to outline eligibility, exclusions, and procedures for claiming benefits, while ensuring insurance-backed protection if providers fail to honor contracts.