Comp/Coll

Question 1

$15 day/$225 day

Answer 1

Transportation Expenses paid by CCC if car is stolen

• begins 48 hours after theft
• Ends when car is found or loss is paid

Question 2

$15 per day to not exceed $60 day

Answer 2

Storage costs paid by CCC if covered auto incurs storage fees when towed after comp/coll loss

Question 3

Does Rideshare endo cover Comp/Coll?

Answer 3

Yes

*While logged with no passengers in the car

Question 4

Faded paint, engine failure, transmission failure, road damage to tires

Answer 4

Exclusions

*General wear and tear, electrical or mechanical failure are not covered by comp/coll

Question 5

Laptops, custom equipment such as non-factory stereo or car spoiler

Answer 5

Exclusions

• Custom Equipment Endo available in TX
• Laptops, personal items may be covered by HO or Renters policy

Question 6

The most CCC will pay for comp/coll damage

Answer 6

Lesser of ACV or the cost to repair the vehicle

*ACV= Actual Cash Value…not Apple Cider Vinegar

Question 7

Replacement Cost (-) Depreciation=

Answer 7

Actual Cash Value (ACV)

*CCC can choose to pay for ‘like kind and quality’ parts, not just manufacturer replacement parts.

Question 8

Minimum time period before payment of loss

Answer 8

30 days after Insured has complied with terms of the policy

*i.e. providing us with requested info.

Question 9

3 Endos that require Comp/Coll before being purchased

Answer 9

Safety Equipment
Rental Reimbursement
Named Driver Restriction Removal

Question 10

Length of time before Rental Reimbursement becomes available during covered comp/coll claim

Answer 10

48 hours

Question 11

When does Rental Reimbursement end?

Answer 11

When repairs are completed 
or
CCC offers settlement/payment of loss
or
Max limits reached

Question 12

Covers vehicle for comp/coll if someone outside the household borrows the vehicle with permission.

Answer 12

Named Driver Restriction Removal (NDRR)

Question 13

Does Comp/Coll cover Rental Cars?

Answer 13

NO

• Insured can purchase comp/coll at Rental Car Agency if this is important to them.
• Liability, UIBI follow the driver.
• Comp/coll stays with the car

Question 14

Someone else cannot benefit from your Insurance.

Answer 14

No Benefit to Bailee

• Car falls off a hoist at the repair shop. The shop cannot file a claim on the Insured’s policy. The shop’s own policy must pay.
• Studying for P+C exam? This will 100% be on the test

Question 15

Lienholders and Comp/Coll

Answer 15

Paid first in event of comp/coll loss

Question 16

Definition of ‘Frequently Operate’

Answer 16

More than 5 times in last 30 days preceding an accident or loss

Question 17

Appraisal

Answer 17

Available if CCC and Insured do not agree on payment of loss.

• Each party chooses an Appraiser
• The Appraisers choose an ‘Umpire’ who decides which appraisal between the 2 Appraisers is accurate
• Also a concept on P+C exam

Question 18

Require Pictures before adding Comp/Coll

Answer 18

Existing Vehicle

New Vehicle to policy with Damage