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Common Terminology
Sometimes insurance terminology can
become confusing, we're hoping this will help!
BI/PD: Bodily Injury/Property
Damage:
Bodily Injury / Property Damage: Pays when you are legally liable for
bodily injury or property damage caused by your vehicle or your operation of
most non-owned vehicles. This coverage also pays for your legal defense
costs if you are sued. Coverage pays up to the policy limits.
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UM/UIM: Uninsured
Motorist/Underinsured Motorist:
Uninsured Motorist / Underinsured Motorist: Protects you, your resident
relatives, any occupants of a covered vehicle if any of these insureds
sustain bodily injury, including any resulting death, in an accident in
which the owner or operator of a motor vehicle who is legally liable does
not have enough or any insurance.
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Stacked/Non-stacked Uninsured or
Underinsured Motorists:
Stacked coverage means that the available limits for UM /
UIM coverage that apply to each vehicle on a policy are combined to
determine the total UM / UIM limits that will be available in case of an
accident which meets the guidelines for coverage. Non-stacked coverage
means that the limit for each unit will be the limits available if that
vehicle is involved in an accident.
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PIP: Medical Coverage Options
Medical Payments will pay for you and
your passenger’s medical expenses after an accident. These expenses can
arise from accidents while you’re driving your vehicle, someone else’s
vehicle (with their permission), and injuries you or your family members
incur when you’re pedestrians. The coverage will pay regardless of who is
at fault, but if someone else is liable the company may seek to recoup from
them.
Personal Injury Protection (PIP)
and broader “no-fault’ coverages are expanded forms
of medical payments protection that may be required in your state. Some
states have option PIP no-fault coverage.
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Coverage for Damage to Your Vehicle:
This coverage pays for direct and accidental loss
to your insured vehicle or to certain vehicles you are temporarily using.
Coverage for damage to your vehicle is divided into two categories;
Collision and Comprehensive.
Collision pays for damage to your vehicle
when you collide with another vehicle or object. This coverage will pay for
repairs required, less the deductible.
Comprehensive pays for
loss or damage to your vehicle caused by hazards other than collision or
upset, less the deductible. Examples include loss from fire, theft, glass
breakage, vandalism, riot, explosion, flood, falling object, wind, and
others. Mechanical breakdown is not covered.
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Special Coverages
Total loss Replacement
/ Purchase Price:
Replacement means that in the event of a total loss, in
the first five model years, your RV is replaced with a brand new, current
model year.
In the event of a total loss for vehicles older than five model years, the
Purchase Price as reflected on the declarations page will be the payout.
The Purchase Price value reflected as Rating Base should be the purchase
price of the vehicle including all permanently attached equipment, tax
title, and license, and should be increased if the insured adds additional
equipment.
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Agreed Value:
This coverage is designed to provide stated amount
protection for your RV for which the estimated market value is not easily
determined through traditional methods or recently purchased.
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Diminishing Deductible:
The original comprehensive and collision deductibles
decrease by 25% until the end of the fourth consecutive claim-free renewal
at which time the deductibles reach $0. Deductibles return to there original
amount once a comprehensive or collision claim is paid
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Scheduled Medical and Life Benefits:
In the event you or your spouse loses his/her life in an
accident with the RV, coverage pays scheduled dollar benefits for Accidental
Death and Dismemberment.
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Emergency Expense:
IIf the RV becomes inoperable due to a covered loss more
than 50 miles from home, coverage applies for reasonable temporary living
facilities and transportation up to the limit on the policy.
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Trailer Coverage:
Provides physical damage coverage (up to $2,500) for
utilities trailers and tow dollies used in conjunction with the insured‘s
motorhome.
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Tow and Labor:
Provides towing to the nearest qualified facility or labor
performed at the place of disablement.
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Roadside Assistance:
Provides towing to the nearest qualified repair facility
or necessary labor at the site of disablement. This service is “Sign and
Drive” meaning no out-of-pocket expense is required.
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Vacation Liability Coverage:
Personal liability coverage when the RV parked and the
unit is being used as a vacation residence. This provides protection up to
your policy limits for your legal liability resulting from negligence in the
use of your RV.
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Full Timers Coverage:
Provides broader “home owner-like” liability coverage when
the RV is used as a permanent residence. If unit is used more then 150 days
a year, there are additional coverages for the added exposure. Example: Fire
department coverage, excess personal liability up to the amount of the
bodily injury on the RV, extra medical payments.
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Personal Effects/contents:
Coverage for loss of or damage to your contents that are normally used in
conjunction with the RV.
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Mexico Coverage:
Physical damage coverage for comprehensive and collision losses, you must
purchase Mexican liability insurance for coverage to apply.
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Additional Coverages
Extended Utility Trailer Coverage:
Extended utility trailer coverage is designed to
insure the higher value (over $2,500 in value) owned utility trailers towed
behind the motor home, including custom designed trailers.
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Golf Car Coverage:
Liability is extended to golf cars at the same
limits as the liability provided under the policy. For towable units,
vacation liability must be purchased to ensure liability coverage for a golf
cart.
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Scheduled Valuable Personal Property (VPP):
Coverage for any item, collection or group of
similar items valued over $1,000.
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Adjacent Structures:
$2,000 limit on storage shed on owned or rented lot.
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Secured Storage Personal Effect:
Provided coverage for a full –timer’s personal effects while stored in a
commercial storage facility. A copy of the commercial storage contract is
required. Available up to $99,000
Coverage may vary in accordance
with state laws
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