Rental Fee Refunds Templates

by ryan on March 16, 2017




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Rental Fee Refunds Templates

 

When your vehicle is disabled or stolen, rental reimbursement gets you back on the road with little down time. Most people are not aware that standard insurance policies don’t cover the cost of a rental vehicle when they’ve been in an accident, or when one of life’s other inconsiderate obstacles has suddenly jumped in the middle or their lane. But insurance that will cover the cost is available and can smooth the inconvenience, if one simply plans ahead.

There are a number of factors that can affect the rates for coverage that gets you a replacement vehicle. The advent of GPS positioning systems has created one of them, called OnStar. In the event a vehicle is stolen, it can remotely report it’s position so that it can be located and recovered before it ends up in a chop shop, making auto parts stew for a repair shop where parts will be picked out and sold in some distant city.

Higher recovery rates mean lower payouts, which means lower rental insurance premiums. OnStar is a GM subsidiary, and the product is available on GM cars for a subscription fee. Of course, vehicle recovery is just one of the many features integrated into the OnStar service.

Rental Reimbursement

Several other factors can alter the premium for reimbursement insurance. One that is closely related to OnStar vehicle theft recovery system is the standard anti-theft alarm system. Many insurance policies consider the lower overall cost for incidents related to theft when a burglar alarm is installed on a vehicle.

So, installation of a working alarm system can also translate to lower premiums for reimbursement coverage. Still two other factors are the geographic region in which coverage is provided, and the type of vehicle. Vehicles in metropolitan areas with a high crime rate are a lot more likely to be stolen than vehicles in a non-urban area in a state such as North Dakota. And some vehicles are much easier to steal, while at the same time being in high demand among thieves.

A 2006 report by the NICB says that the 1996 Honda Civic was the most stolen vehicle in the US for a recent particular year, followed by 1991 Honda Accord and 1989 Toyota Camry. Owning a low demand vehicle in a a low crime area can mean lower rates.




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