Loss
or Damage
Provides a selection of optional
coverages for your own automobile. Payments cover direct and accidental
loss of, or damage to, a described automobile and its equipment.
There is usually a deductible amount indicated for each coverage
and its amount is either paid by you toward the cost of repairs
or is deducted from the loss settlement. Higher deductibles may
reduce your premium.
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There are four types
of coverage:
- Specified Perils: Covers the described automobile
against loss or damage caused by certain specified perils. They
are fire; theft or attempted theft; lightning, windstorm, hail
or rising water; earthquake; explosion; riot or civil disturbance;
falling or forced landing of aircraft or parts of aircraft;
or the stranding, burning, sinking, derailment or collision
of any kind of transport in, or upon which, the described automobile
is being transported.
- Comprehensive: Covers a described automobile
against loss or damage other than those covered by Collision
or Upset, including perils listed under Specified Perils, falling
or flying objects, missiles and vandalism.
- Collision or Upset: Covers damage when a
described automobile is involved in a collision with another
object or tips over.
- All Perils: Combines the Collision or Upset
and Comprehensive coverages.
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