In part 1 of our blog post on the auto insurance policy, we explained the most basic auto insurance coverages and how they can protect you and your car.  In this post, we’re going to add some additional specialty coverages that can be included on your auto insurance policy.  Many of these coverages cost very little and can provide additional protection that can greatly help. To find out how to add these coverages to your auto policy, please feel free to contact our office.

Custom Parts or Equipment (CPE) – Collision and Comprehensive coverage each provide up to $1,000 of coverage for custom parts or equipment, which are accessories and enhancements permanently installed in or on your vehicle. Parts and equipment offered by the manufacturer or installed by the dealer at the point of sale are not custom parts or equipment, but they are included under your standard Collision and Comprehensive coverage.

Additional Custom Parts or Equipment (ACPE) – This coverage is available if you have more than $1,000 of custom parts or equipment on your vehicle. If you purchase this coverage, the insurance company will pay for custom parts or equipment damaged as a result of a covered incident, up to the amount shown on your Dec Page.

Rental Reimbursement – If you buy Rental Reimbursement coverage, the insurance company will reimburse you for rental car charges incurred while our vehicle is being repaired after a covered accident. You can only buy Rental Reimbursement if you buy Collision and Comprehensive coverage. Rental Reimbursement may be limited to 30 days and subject to the maximum per day amount shown on your Dec Page.

Loan/Lease Payoff – This coverage protects you when your covered vehicle has been deemed a total loss and you owe a lender more money than the vehicle is worth. If you buy Loan/Lease Payoff and your vehicle is declared a total loss, Loan/Lease Payoff will pay the difference between the vehicle’s actual cash value and the amount you owe to the lender. However, the maximum the insurance company will often pay is 25 percent of the actual cash value.

Roadside Assistance – If you incur labor costs at the place where your vehicle becomes disabled as a result of a mechanical/electrical breakdown, dead battery, flat tire and/or lockout, Roadside Assistance can cover those costs. Many insurance companies also will help if you run out of gas or other fluid, or if you become stuck in snow or mud within 100 feet of a road or highway. And, if necessary, Roadside Assistance will cover towing to the nearest qualified repair facility.