Pays for loss to your covered vehicle when it collides with another object or overturns.
Common exclusions: No coverage for damages or loss (1) to a vehicle while being used to carry persons or property for compensation or a fee; (2) to a vehicle while being used on a race course; or (3) to tapes, compact discs, other media.
ACV (Actual Cash Value)
In the event of a total loss, this coverage pays the lesser of the actual cash value at the time of loss minus the deductible. Actual cash value is determined by the market value, age, and condition of the vehicles at the time of the loss.
Replacement Cost
Replacement Cost provides the actual cost, at the time of loss, without deduction for depreciation, to repair or replace the vehicle. To receive this settlement, the vehicle must be two model years old or newer when the policy is written as new business.