Jack B Kustra, CPCU, CFP, CLU Since 1981
Jack B Kustra, CPCU, CFP, CLU Since 1981

Auto Insurance

Saving money is important, but so is having the right coverage to protect your assets against financial loss.  Why not do both?

 

You can also get coverage that includes:

  • A 100% Repair guarantee in writing for as long as you own your car if you choose to have your car repaired at a Nationwide Blue Ribbon certified repair shop. 
  • 24/7 Nationwide Blue RibbonSM Claim Services
  • Free On Your Side® Reviews to help you choose the discounts and coverage options that are right for your life  

 

Optional Features to Consider

OEM Loss Settlement

Typically when a vehicle is involved in an accident, the insurance company has some flexibility with the parts that are included in the repair estimate.  They could be used parts, new parts manufactured by a third party vendor, or new parts made by the car manufacturer.  The important point to understand is that the consumer does not choose which parts are used.

 

With the OEM Loss Settlement Endorsement, the insurance company is obligated to use new parts furnished by the original equipment manufacturer to repair or replace damaged parts.  If the OEM parts are out of production or not available, you are reimbursed for the difference in price between the new OEM part and the part that you authorize for the repair (if the parts are less expensive).   This coverage is available for vehicles less than 10 years old.

 

New Car Replacement Plus

This feature addresses the situaton created when the value of your vehicle drops below the cost of a new vehicle.  The old saying is that your new vehicle's value drops the day you drive off the lot.  With this endorsement, you would receive up to 110% of the MSRP value of your vehicle that is totaled or stolen, within the first 3 years of acquiring your new vehicle.  You would then use that money to purchase a brand new vehicle, similar to the one you had.  This is comparable to replacement value coverage on your home insurance policy.  After 3 years, you would receive 100% of the original MSRP.  This feature is only available for new vehicles purchased within the past six months.  Once your vehicle is over 6 years old, you would be compensated as with any other vehicle without this feature.

Vanishing Deductible

If you like the savings you get with high deductibles but you don't like the out of pocket cost associated with claims caused by other drivers, then this feature is worth considering.

 

With this enhancement to your policy, your deductibles for both comprehensive (theft, glass breakage, vandalism, etc.) and collision claims are lowered by $100 for each year you do not submit a claim, up to a maximum of $500.  You can begin using your credit 30 days after activating this feature. 

 

So if you have a $500 collision deductible, you would never need to pay more than a $400 deductible to repair your vehicle.  If you have a $100 deductible for glass breakage, you would have no out of pocket cost to replace your broken windshield.

 

Key points to remember:

  • You always have at least a $100 credit
  • The credit maximum is $500.
  • Your deductible for collision claims can never go below $100 due to a state law requirement.

There are only three ways your deductible credit will reset to $100:

  • You submit an at-fault accident
  • You submit a comprehensive claim - other than a glass claim.
  • You allow your policy to lapse for even a day

In my 30 plus years as an agent, I have seen numerous hit and run accidents caused by inconsiderate drivers who fail to leave their identification.  And each time a policyholder is faced with a deductible that will never be recovered.  Wouldn't it be nice to pay a lower deductible?  Your rates don't increase and neither does your deductible. 

 

If you presently have lower deductibles, a strategy you can use is to add this feature and increase your deductibles.  The savings you receive offset most of the cost for the vanishing deductible, in most cases, and your real savings down the road is lower out of pocket costs when you need to submit a claim.

 

 

 

For more information, please contact our auto insurance specialist.

Contact us

 

Disclaimer: Please be advised that no insurance can be purchased, bound, or put into effect over the Jack Kustra Agency website. To start a policy or make changes to an existing policy, you must first speak with an agent who will assist you accordingly. Thank You

Office: 610-825-7440

Text: 215-605-5401

Email: kustraj@nationwide.com

 

Jack B Kustra CPCU, CFP, CLU, ChFC, CMFC, FLMI

On Your Side Since 1981

 

Want to know more about the new teen driver laws in Pennsylvania?

 

Our rates are very favorable for families with teen drivers.

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