Optional Limits Transportation Expense / Rental Car Reimbursement – Will provide a per day limit of reimbursement when a rental vehicle is required during the time it takes to repair an insured vehicle that has been involved in a claim. This coverage is typically included when comprehensive and collision coverages are purchased for a vehicle.
Full Answer
What is extended transportation expense coverage (rental reimbursement)?
What is Extended Transportation Expense Coverage (Rental Reimbursement)? If your vehicle should be temporarily disabled for more than a day due to a covered auto accident, this coverage will pay $30 per day for up to 30 days, or a maximum of $900, toward the cost of a replacement vehicle.
What are transportation expenses in auto insurance?
Transportation Expenses — additional expenses paid under the personal auto policy (PAP) and the commercial auto policies. For the PAP, transportation expenses, such as rental car charges, incurred in connection with a covered comprehensive or collision loss are payable, up to a specified amount.
What are optional coverages for a modest additional premium?
For a modest additional premium, optional coverages are available that will pay more than the required basic No-Fault benefits, explained in Minimum Auto Insurance Requirements. Consumers now have two choices:
What is optional insurance and how does it work?
With this optional insurance, your own insurer pays you, without regard to fault, for damage to your car caused by a collision with another car or any other object or your car overturning.
What is transportation expense limit?
What is Extended Transportation Expense Coverage(Rental Reimbursement)? If your vehicle should be temporarily disabled for more than a day due to a covered auto accident, this coverage will pay $30 per day for up to 30 days, or a maximum of $900, toward the cost of a replacement vehicle.
What does extended transportation expense coverage?
Extended transportation expenses coverage – sometimes referred to as rental reimbursement coverage – is an optional coverage that can pay for a rental car, other forms of transportation or other transportation expenses if your car is damaged in a covered accident.
What is transportation expense?
Key Takeaways. Transportation expenses are a subset of travel expenses that refer specifically to the cost of business transportation by car, plane, train, etc. Expenses such as fuel, parking fees, lodging, meals, and telephone charges incurred by employees can be claimed as transportation expenses.
What does transportation expenses mean in insurance?
Transportation Expenses — additional expenses paid under the personal auto policy (PAP) and the commercial auto policies. For the PAP, transportation expenses, such as rental car charges, incurred in connection with a covered comprehensive or collision loss are payable, up to a specified amount.
What is the limit for temporary transportation expenses under a personal auto policy?
Under the PAP, after a collision the insured is entitled to Transportation expenses up to: $600 -- The policy will pay a maximum of $20 per day, up to $600, for transportation expenses.
How do I claim transport expenses?
You can't claim a deduction for normal trips between your home and regular place of work. However, you can claim transport expenses you incur for trips between workplaces. Transport expenses can include the cost of: driving your car or other vehicle (such as a motorcycle)
What are some examples of transportation costs?
What Are Examples of Transportation Costs?Line haul.Pickup and delivery.Terminal handling.Billing and collecting.
What are the 4 basic costs of transportation?
1. Transport Costs and RatesTransport costs are the costs internally assumed by the providers of transport services. ... Rates are the price of transportation services paid by their users. ... Linehaul costs. ... Capital costs.
Which of the following personal auto coverages would pay for the insured's travel expenses and loss of earnings while involved in the settlement process of a covered loss?
Which of the following personal auto coverages would pay for the insured's travel expenses and loss of earnings while involved in the settlement process of a covered loss? Liability coverage.
What is the waiting period for transportation expenses coverage for a loss other than theft of a covered vehicle?
The policy will usually pay up to $20 per day up to a maximum of $600 (may vary by state) for transportation expenses incurred by the insured due to a covered loss. Expense payments begin after a 24-hour waiting period for reasons other than theft.
Which of the following is not covered under uninsured motorist coverage?
Which of the following is not covered under Uninsured Motorist Coverage? A taxicab or other vehicle for hire is not eligible for coverage. Choose the physical damage claim that is covered under the Personal Auto Policy. This is covered under Other Than Collision.
Which of the following is not an eligible vehicle for coverage under the personal auto policy?
Which of the following is not eligible for a Personal Auto Policy? A private passenger auto used as a taxicab; A vehicle used as a public or livery conveyance is not eligible for a Personal Auto Policy.
Auto Insurance Policy Endorsements
Sometimes you need a little extra assurance when insuring your car. An endorsement is simply a document used to amend your car insurance policy to better meet your individual needs. With an ERIE auto policy from Kattan Ferretti, the following policy endorsements are available for an additional cost or premium:
Other Car Insurance Policy Endorsements
ERIE’s Auto Enhancement Endorsement provides a diminishing deductible features as well as increased benefits for transportation expenses, death benefit and more.
What are optional coverages?
Other optional coverages available from some companies are Towing and Labor Coverage, Extended Transportation Coverage (Rental Reimbursement) and Mechanical Breakdown Coverage. You should contact your insurer, agent or broker to discuss whether it would be advisable for you to purchase them. Some additional coverage may only be offered when comprehensive and/or collision coverage is purchased on the insured vehicle.
What is the minimum coverage for auto insurance?
As discussed in Minimum Auto Insurance Requirements one of the basic mandatory minimum coverages that comes with your auto policy is bodily injury protection against the negligent actions of an uninsured or hit-and-run motorist. You also have the option to expand this basic protection. For an additional premium, you can purchase higher coverage limits of Supplementary Uninsured/Underinsured Motorists (SUM) coverage of up to $250,000 per person per accident and $500,000 per accident, subject to the per person limit ($250,000/$500,000). Many insurers offer higher limits of SUM coverage. SUM coverage also provides coverage for accidents occurring out-of-state, which are not covered under the basic required Uninsured Motorists Coverage. However, the amount of SUM coverage may not exceed the bodily injury liability limits of your policy.
Why are no fault benefits extended?
Because of No-Fault’s cost-effective design , extended No-Fault benefits represent a relatively inexpensive option. For a modest additional premium, optional coverages are available that will pay more than the required basic No-Fault benefits, explained in Minimum Auto Insurance Requirements. Consumers now have two choices:
How much is a sum insurance?
For an additional premium, you can purchase higher coverage limits of Supplementary Uninsured/Underinsured Motorists (SUM) coverage of up to $250,000 per person per accident and $500,000 per accident, subject to the per person limit ($250,000/$500,000). Many insurers offer higher limits of SUM coverage. SUM coverage also provides coverage ...
Does auto insurance have optional coverage?
Beyond the coverages required by law, most insurance companies offer a wide range of optional auto insurance coverages at additional cost. The most popular and valuable options are discussed here.