Security Solutions Product Knowledge
What is it?
Theft deterrent system that provides a cash benefit for purchase of a replacement vehicle in the event of a covered loss.
Parameters
- A 12-point vehicle marking system is used to permanently apply a traceable identification code that is registered with the National Insurance Crime Bureau (NICB).
- Materials are provided to all new accounts to etch and footprint every vehicle in inventory.
- The Vehicle Theft Protection coverage is non-cancelable and non-refundable.
- New and Used vehicles are eligible for coverage.
- Commercial use vehicles are not eligible.
- Vehicles exceeding one-ton capacity are not eligible.
- Physical Damage Insurance does not have to be in force.
- Vehicle Theft Protection coverage can be transferred.
- Security Solutions coverage could qualify the customer for a comprehensive insurance discount.
- A covered loss includes a vehicle that is stolen and not recovered within 30 days, or it is recovered but determined to be a total loss.
Coverage Specifics
- Vehicle Theft Protection benefits are available for five years.
- Two coverage plans available based on the amount of payable benefits. Both plans include:
- A benefit payment to the customer.
- An allowance towards the purchase of a replacement vehicle when the customer returns to the original selling dealer.
- Trip interruption allowances if the customer's vehicle is stolen while traveling.
- A separate program is offered to those dealerships operating within 100 miles of the Mexican border. This plan includes:
- An allowance towards the purchase of a replacement vehicle when the customer returns to the original selling dealer.
- Trip interruption allowances if the customer's vehicle is stolen while traveling.
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