This insurance pays for damage to your vehicle due to a collision or other occurrence such as hail, fire or theft. Claims for damage to your vehicle are subject to a deductible.
Vehicles are covered to the actual cash value, which is the market value of your vehicle compared with similar vehicles, with similar equipment, mileage and condition to the insured vehicle.
Some of the following limitations may apply:
- Coverage for loss or damage to a vehicle insured under antique use is $800 less your deductible of $500.
- Unless stated otherwise, coverage for loss or damage in classes A, C, D or TS (commercial trailers) is limited to $15,000 or the declared value, less your deductible.
- Coverage for audio, visual, sound or communication equipment which has not been installed by the vehicle manufacturer is capped at $1,500 per incident or collision ($2,200 less the $700 deductible).
Note: If you suffer damage to your vehicle, you should take reasonable steps to prevent further damage from occurring. For example, if your vehicle's window is broken a plastic cover should be put over the window to prevent water damage if it rains.
For further protection, you can choose to buy extra coverage.