Value Plus Option (Section B) – End. 43 (B and F)
Protect the value of your used car in case of damage or total loss
With Value Plus OptionTM :
- Your used vehicle is protected against depreciation for up to 5 years.
In case of partial loss:
- If depreciation applies when a damaged part is repaired or replaced, this coverage will pay the amount of the depreciation, up to $1,000.
- For example, your car door that already has some rust damage is dented after a collision. With this coverage, the dents will be removed and the door will be repainted. It will look better than before, and you won't be charged for the depreciation due to the rust.
In case of total loss:
- Depending on the option included in your policy, you get compensation equivalent to:
- the price you paid for your car, increased by an annual percentage;
- the value of your car at the time of the loss, increased by an annual percentage.
Either way, your settlement amount will be more than your car's actual cash value at the time of the loss, giving you more options to buy a new car.
Simplify your insurance by choosing the Value Plus Option from The Personal, and keep all your car coverage in one place.
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TM Value Plus Option is a trademark of a company affiliated with The Personal General Insurance Inc.