Rental Reimbursement - Michigan

The purpose of this course is to provide the insurance professional with a thorough understanding of how the personal and buisness auto policies, and their related forms and endorsements, provide rental reimbursement coverage to policy holders after an insured motor vehicle sustains physical damage loss. This magerial will disclose specific statistics and key findings concerning motor vehicle losses and claims from studies conducted by J.D. Power and Associates in addition to data supplied by, the A.M. Best company, the National Highway Traffic Safety Administration (NHTSA), the National Safety Council, the Insurance Institute for Highway Safety and the Insurance Information Institute. This course will also review sections of various auto policies and their related forms and endorsements so the participant can master an understanding of the coverages, exclusions, terms, and conditions they contain.  Physical damage coverage (i.e. collision, other than collision, comprehensive, or specified perils) will be evaluated and rental reimbursement coverage will be discussed to learn how it applies after a policy holder's vehicle sustains a loss.  The consequences of physical damage losses will be reviewed, along with those faced by the policy holder who does not have adequate insurance coveage to pay the costs associated with the rental of a replacement vehicle while the damaged vehicle is out of use. CREDITS 2