Locked Vehicle Warranties and Your Tools

Locked Vehicle Warranty

The locked vehicle warranty on a policy will usually not be included on your insurance policy paperwork. It is normally tucked away safely in the long legal documents referred to as the Wordings. If you’re like most people, you have not read any of these Wordings and you most likely don’t intend to. We don’t blame you at all, it’s a bit tedious to be honest. It’s a good thing we are here for you. Let’s take a dive into the wonderful world of locked vehicle warranties and how they could be affecting your policy without you even knowing it.

What is a Locked Vehicle Warranty?

A locked vehicle warranty will look something like this in your Wordings:

“this policy does not insure against theft from an unattended vehicle unless said vehicle is fully equipped with an enclosed body, and the loss be a direct result of forcible entry (of which there shall be visible evidence) into a fully enclosed body, the doors and windows of which shall have been securely locked. “

What this means is that if you have a locked vehicle warranty and you forgot to lock your vehicle or put the windows up and someone stole your tools, you will most likely get nothing back from the insurance company.

Now this could be quite the ordeal because you were expecting something back as you have been paying for this insurance policy for years and you’ve never had a claim. Unfortunately insurance companies can be pretty strict to their rules (for good reasons) and they will quickly point out how this warranty on your policy is clearly described in your wordings.

That’s Bull! How Do I Get Coverage Without The Warranty?

We are very happy you have asked that question. At InsureMyTools.ca we are able to design a policy for you that does not include a locked vehicle policy. We know that things happen and sometimes it’s more important to run into that home to stop the water from gushing onto the floor or that when you are getting 372 things from your truck it gets easy to forget to lock it one time. Give us a call or hit our contact page to see how we can beat your current premium with better coverages that are built for people like you (real people).

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