Auto Total Loss

Overview

If an accident causes a total loss to your vehicle, you can get reimbursed up to $2,500 with this benefit.  So if you don't want to have collision or comprehensive on your vehicle, this can still protect you.  This is perfect for the "winter beater" car or that car that is paid for.

• If member's automobile is involved in an accident, and deemed a total loss, member will be reimbursed up to $2,500 per vehicle.

Description

Definitions

“Vehicle” means the private passenger automobile, truck, or utility vehicle which is less than ¾ ton in weight.

“Replacement Cost Value” means the actual selling price of the replacement vehicle, excluding all applicable sales tax and registration fees, less any applicable manufacturer rebates, provided that, in no event shall the replacement cost value of any vehicle exceed an amount equal to an increase in the original dealer cost of the vehicle of 5% per calendar year up to the date of replacement.

“Total Loss” means a total loss to the vehicle as determined by your automobile physical damage insurance company resulting from a police reported collision involving the vehicle.

“Value Of Your Vehicle” means the retail book value of your vehicle at the time of the loss, listed in the N.A.D.A. Official Used Car Guide in your state, adjusted for all manufacturer installed accessories included on your vehicle when originally purchased, including any mileage adjustments.

Conditions of the Guarantee

It is a condition precedent to enforcing this guarantee that you maintain physical damage insurance for the Value of Your Vehicle during the entire term of this guarantee.  At the time of loss, when you purchase another vehicle, you must pay or assign to the dealer the amount representing the actual cash value of your vehicle as determined by your insurance company. Member can be reimbursed up to $2,500 per vehicle.

This guarantee applies only to a total loss due to a police reported collision occurring in the continental USA.  This guarantee is non-transferable to any subsequent vehicle owners and non-cancelable by the purchaser.  The replacement vehicle must be purchased from the originating dealer selling the Administrator Security System unless purchaser has moved more than 150 miles from such dealer, and in the event that such dealer is not able to supply the replacement vehicle, call the administrator. You must purchase the replacement vehicle within thirty (30) days from the date you receive your total loss settlement check from the insurance company insuring your vehicle.  If you do not purchase this replacement vehicle within such time, you will not be entitled to any benefit under this guarantee.

New Vehicle:
In the event of a total loss of vehicle described above as a result of a police reported collision, this guarantee will pay on your behalf, and subject to the provisions herein, to the dealer replacing the vehicle an amount equal to the difference between (1) the actual cash value of your vehicle at the time of loss, as determined by your insurance company; and (2) the Replacement Cost Value/Capitalized Lease Cost of a new vehicle or less expensive vehicle you purchase or lease, excluding tax, license and registration fees less a deductible of $500.00.  The maximum benefit under this guarantee shall not exceed the coverage amount selected above.  The replacement vehicle must be a current year, make and model or same year make and model of the originally purchased or leased vehicle if available.  If the replacement vehicle may be purchased for an amount which is less than the amount set forth above, the dealer will be paid the lesser amount.  The maximum term of this guarantee is thirty-six (36) months from the date of purchase.

Pre-Owned Vehicle:
In the event of a total loss of vehicle described above as a result of a police reported collision, this guarantee will pay on your behalf, and subject to the provisions herein, to the dealer replacing the vehicle an amount equal to the difference between (1) the actual cash value of your vehicle at the time of loss, as determined by your insurance company and (2) the Replacement Cost Value/Capitalized Lease Cost of a like pre-owned vehicle or less expensive vehicle you purchase or lease, excluding tax, license and registration fees less a deductible of $500.00.  The maximum benefit under this guarantee shall not exceed the coverage amount selected above.  The replacement vehicle will be the same number of model years old as your stolen vehicle at the time you originally purchased or leased it.  The maximum term of this guarantee is thirty-six (36) months from the date of purchase or lease.

 

Exclusions

THIS VEHICLE IS SOLD WITH A GUARANTEE, BUT THE GUARANTEE ABSOLUTELY DOES NOT APPLY TO:
A. Claims that are a result of fraud, misrepresentation, falsification of documents or dishonest act(s). 
B. Claim payments that include:
1. Any service contract, agreements, or any accessories or improvement in the replacement vehicle.
2. Dealer installed options.
3. Tax, license and registration fees.
4. Vehicles with tampered odometers.
5. Loss of use of the vehicle or any other consequential loss.   
C. Claims that are a result of:
1. The vehicle being seized by any governmental agency.
2. The guarantee being sold in jurisdictions where its terms may be in conflict with state law or federal law.
3. Terrorist Acts.
4. Nuclear reaction, nuclear radiation, or nuclear contamination.
5. Hostile or warlike action in the time of peace or war.
6. The guarantee being issued on vehicles used for commercial use, as public livery, or as emergency vehicles, including, but not limited to law               enforcement agencies, fire departments and hospitals.
7. Vehicles declared a total loss by the insurance company for any reason other than police reported collision.

How To File a Claim

How to file a claim:

A.  No Guarantee benefits will be provided if the collision is not reported to the police immediately, and to Claims Administration at 800-xxx-xxxx  within five (5) days after the loss has occurred. 
B. In addition to completing the claim form, all of the following documentation is required in order to process the claim:
1. Copy of the written police report documenting the collision of the vehicle.
2. Copy of the dealer buyer’s order and factory invoice or Monroney label reflecting factory options of the original vehicle.
3. Copy of the claim settlement papers/check from your insurance company.
4. Copy of the declaration page of your automobile insurance policy.
5. Copy of the dealer buyer’s order and factory invoice or Monroney label reflecting factory options on the replacement vehicle.
6. It is a requirement of this guarantee that all of the above documentation must be provided to the Claims Administrator, before a claim can be processed.