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Fire and Theft with CAC Insurance

Fire and Theft Insurance with CAC or Specified Perils Insurance

Fire and theft with combined additional coverage (CAC) insurance is sometimes called limited comprehensive insurance or specified perils insurance.

Fire and theft with combined additional coverage (CAC) insurance is a limited form of comprehensive insurance. Comprehensive insurance is part of the package of insurance coverages known as physical damage insurance, which also includes collision insurance.

Fire and theft with CAC insurance provides protection for your vehicle in case it is damaged by specific non-collision incidents. Fire and theft with CAC insurance pays to repair or replace your vehicle in case of the following specific circumstances:

  • Fire
  • Theft
  • Windstorms or hail
  • Earthquake
  • Lightning or explosion
  • Flood or rising water
  • Malicious mischief or vandalism
  • The stranding, sinking, burning, collision or derailment of any conveyance in or upon which your vehicle is being transported.
  • Collision with an animal

Who Needs Fire and Theft with CAC Insurance?

Fire and theft with CAC insurance is a limited form of comprehensive insurance. For protection in case of accidents, you can select collision insurance to complement Fire and theft with CAC insurance for your vehicle.

Deductibles and Other Details

For fire and theft with CAC insurance you must pick a deductible which is the amount that you agree to pay out of pocket when you have a claim.

Choosing a higher deductible is an easy way to lower your insurance premium. Be sure you choose a deductible that you can afford to pay out of pocket at any time.

When you select fire and theft with CAC insurance, you also are required to submit a stated amount, which is your best estimate of the current value of your vehicle. The stated amount should take the age and condition of your vehicle into account, as well as any permanently attached equipment.

Learn more about stated amount and how to calculate it for your vehicle.

Fire and Theft with CAC Insurance Example

You leave your house one morning and realize that your truck has been stolen.

If you chose a $1,000 deductible, you would pay the first $1,000. Your fire and theft with CAC insurance would then pay the rest of the cost to replace your vehicle, up to the lower of: the actual cash value (ACV) of the vehicle; or the stated amount that you submitted.