Insurance

Excess Value Coverage

$50,000 is the most any car, truck, motorcycle, moped, motorhome, trailer, snow vehicle or prototype vehicle can be insured for under Basic Autopac. This limit includes applicable taxes. If your vehicle is worth more than $50,000, you'll need to purchase Excess Value Coverage for the amount over the limit.

See an Autopac agent for details.

FAQ

Q
I just bought a $60,000 vehicle and purchased Excess Value Coverage in that amount. If the vehicle was written off six months later, would I automatically get a $60,000 settlement?

Not necessarily. If your vehicle is written off, and you do not have New Vehicle Protection coverage, which is replacement cost coverage, you will receive the actual cash value, or market value, for your vehicle. Buying Excess Value Coverage does not mean that you are automatically going to receive that limit as a payout.

Q
Lay-Up Excess Value:
I own an $80,000 motorhome and purchased Excess Value Coverage in that amount. While it was being stored for the winter it was totally destroyed in a fire. Do I automatically get an $80,000 settlement?

Not necessarily. Excess Value Coverage is not based on replacement cost‒it is based on market value. If your stored motorhome is written off, you will receive the actual cash value of your motorhome. Excess Value Coverage is not a guaranteed value.

Q
Does Excess Value Coverage for motorcycles have the same coverage as Excess Value Coverage on passenger vehicles?

There are some differences. Coverage depends on what kind of Autopac coverage you have on your motorcycle. Basic Autopac coverage for passenger vehicles includes all-perils coverage, however Basic Autopac for motorcycles and mopeds is limited to collision and upset protection.

If your motorcycle is insured with Basic Autopac only, your Excess Value Coverage will only cover you if your motorcycle is damaged in a collision or by upset. If your motorcycle is insured with Basic Autopac and comprehensive motorcycle coverage, and you have Excess Value Coverage, you would receive the actual cash value of your motorcycle or moped in the event of a collision or upset or a comprehensive claim.

Excess Value Coverage is not a replacement for comprehensive coverage. Contact an Autopac agent to ensure your motorcycle qualifies for full coverage.