Answers to Common Collision Questions
Here are answers to your most common collision questions :
What is the difference between imitation parts and parts made by the manufacturer of my vehicle? How can I be sure that I'm getting the real thing when it comes to replacement sheet metal parts? What if imitation parts are used to repair my vehicle? What is the difference between collision insurance and comprehensive insurance coverage? What is the meaning of "actual cash value"? More questions regarding automobile insurance? How about an online auto insurance quote?
What is the difference between imitation parts and parts made by the manufacturer of my vehicle?
The parts made by the manufacturer of your vehicle are built to the same specifications as those on your vehicle when it was built. Genuine GM Parts are made with factory-specified steels and to factory-specified thickness to provide the best durability possible. Imitation parts are often not made specifically for your vehicle. This may make it necessary for technicians to alter or otherwise manoeuvre the part to make it fit. The end result may be diminished satisfaction and value, and it may jeopardize your warranty protection.
How can I be sure that I'm getting the real thing when it comes to replacement sheet metal parts?
You should talk to your insurance agent and the collision repair facility doing the repair. Tell them you'll only accept genuine GM Collision Parts when they repair your vehicle.
What if imitation parts are used to repair my vehicle?
You should ask for documentation if imitation parts are used to repair your vehicle. In the event of structural failure as a result of using imitation parts, you'll have a way to establish liability and increase your chance of receiving proper compensation.
What is the difference between collision insurance and comprehensive insurance coverage?
Collision insurance and comprehensive insurance may vary by province. Generally, collision insurance covers damage to your automobile caused by a collision with another object, while comprehensive insurance covers damage to your automobile from such things as vandalism, theft or glass breakage.
What is the meaning of "actual cash value"?
The term "actual cash value" refers to how much it would cost to replace your damaged vehicle with one in similar condition and with similar kilometres driven. Since conditions such as kilometres driven, unrepaired previous damage and tire wear are all considered in determining cash value, that sum may not be the same as the market price for an automobile of the same make, model and year.
Typically, the most an insurance company will pay for a damaged automobile is its actual cash value at the time it was damaged.
The value of the loss or damage is based on actual cash value after taking into account depreciation. An insurance company will not pay more to repair an automobile than its actual cash value at the time it was damaged.
An insurance company will pay the lower of the following:
- The cost to repair the loss or damage; or
- The actual cash value of the automobile at the time it was damaged.
If, as a result of repairs, the actual cash value of the automobile is more than it was before the accident, you may be asked to contribute to the cost of the repairs. The amount you will be asked to pay is the difference between the actual cash value of the automobile after the repairs and the actual cash value of the automobile before the accident. If a part needed to repair the automobile is no longer available, the most an insurance company will pay is an amount equal to the manufacturer's latest list price for the part.
More questions regarding automobile insurance?
For additional information on automobile insurance, please go to the Insurance Bureau of Canada Web site at http://www.ibc.ca.
How about an online auto insurance quote?
For a no-obligation online auto insurance quote, please go to the Motors Insurance Web site at http://gm.ca/gm/english/services/insurance/overview.