Public Notice on IL auto insurance policies with UMPD and policies with Physical Damage coverage through First Chicago Insurance Company.
Property damage losses are subject to the $250 deductible. However, in the event of one or more of the following losses, a 500% assessment of the deductible amount shown on the declarations page shall be assessed against the loss settlement, if the loss occurs within 30 calendar days of policy inception, lapse in coverage, reinstatement, addition of a vehicle with UMPD Coverage, or addition of UMPD Coverage to an existing vehicle on the policy. (a) Single vehicle loss (b) Hit and run loss (c) Theft loss (d) Vandalism loss.
Found on page 11 500% surcharge on Physical damage deductibles policy language
LOSS SETTLEMENT UNDER COVERAGE G & H By means of selecting a “Value Rated” policy of insurance, the value rating of your vehicle appears within the Declarations page. In the event of a loss and subsequent loss settlement under Coverage G or H, we are authorized to make appropriate deductions from the loss settlement amount for: (a) the deductible stated in the Declarations for that particular insured auto; however, in the event of one or more of the following losses, a 500% assessment of the deductible amount shown on the declarations page shall be assessed against the loss settlement, if the loss occurs within 30 calendar days of policy inception, lapse in coverage, reinstatement, addition of a vehicle with Physical Damage Coverage, or addition of Physical Damage Coverage to an existing vehicle on the policy. i. Single vehicle loss IL MV 01 08 0122 12 ii. Hit and run loss iii. Theft loss iv. Vandalism loss
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