The next time you take your car in for a checkup, you may want to do the same for your auto insurance policy.
The reason?
Your current auto insurance policy may be short on providing you with choices. That may not be good – especially if you drive a luxury or custom vehicle. One of these choices is about what parts are used and where your vehicle is repaired after an accident.
Consumer Reports magazine recently concluded that some “imitation parts” fit and perform poorly in comparison to more expensive original equipment manufacturer (OEM) parts.
While a study of automobile owners found that 77 percent prefer OEM parts, many insurance companies will only pay for after-market parts not made by auto manufacturers. The survey also found that 84 percent prefer to choose their own repair shop. Some insurers will only pay an “average” labor rate, which often is much less than the dealer’s charges.
According to a spokesperson for Chubb, the company which commissioned the survey, “Our Masterpiece Auto Preference policy allows customers to buy high limits for financial protection, choose where their car is repaired, use OEM parts and even have the option to set the replacement value of their cars before the loss happens.”
More information about auto insurance is available at your independent insurance agent or broker.
– North American Precis Syndicate
