Evolving Trends in the Regulation of Ancillary Vehicle Protection Products
When buying or leasing a new car, additional products may be offered, but they are not traditional insurance.
Financial and insurance firms, insurance producers and motor vehicle retailers offer, market, sell and administer a myriad of ancillary protection products in the motor vehicle space. Although they’re not a substitute for automobile insurance, ancillary vehicle protection products may offer coverage in the event of a natural disaster (such as flood or hail damage), financial problem (such as unemployment or disability), crime (vehicle vandalism or theft), or a motor vehicle accident. The most common ancillary vehicle protection products are:
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