If you are signing a new car insurance policy, your provider could offer a wide range of add-ons. You’ll have the option to pick compensation for assessed repair time, which is more famous than CART. Before you decide whether you need this add-on, it’s crucial to learn more about it. That way, you can make an informed decision whether that’s an extra option to use in your insurance policy.
What Does CART Mean?
The term compensation for assessed repair time refers to how much time your car spends in the workshop during the repair process. If you participate in an accident and your car gets damaged, you’ll have to take it to the mechanic. Those will usually be workshops that work with that insurance agency. They might take two or seven days to finish the repair process. You won’t be able to use your car during that time frame, which is why you have the right to CART. The compensation you receive serves to reimburse you for alternative transportation options and other adjustments you had to make during that time.
Who Determines CART?
Two factors are crucial to determine compensation for assessed repair time:
- Estimation of the appointed licensed adjuster
- Specifics of your insurance policy
If you participate in an accident, you file a police report and insurance claim. You take the vehicle to the agreed workshop, and an independent adjuster comes into play. They estimate how long the workshop should take to finish the repair and determine the days of CART to pay. Some repairs take only two days, and others might take 14. The adjuster will estimate that and give a recommendation that the insurance agency will honor. However, the exact sum you receive might depend on your insurance policy’s specifics. Once you signed the coverage, you agreed to specific terms for this add-on. Most insurance companies offer a selection from different packages, and factors to choose from include:
- Amount to be paid per day (RM50-200 in most cases).
- Coverage days (from seven to 21 days or more).
Now, let’s say that you agreed to a 14-day policy with RM50 per day. That means the total value is RM700. It depends on the company, but the usual rate you are paying is “10%” of the entire value, which means this add-on will cost you RM70.
Can You Use CART For Multiple Accidents?
Yes, but the condition is there are days available in your add-on policy. Here is an example – let’s say your car was damaged in an accident in February. You signed the policy in January and included CART in your deal. The adjuster estimated it takes five days to repair your vehicle. If we follow the deal specifics above (14-day CART policy with RM50 per day), you’ll receive RM250 for five days. The next accident occurred in August, and the adjuster estimated repair time at nine days. That means you’ll receive RM450 for all nine days. However, if the estimation is ten days, you’d still receive only RM450 because you have nine days left on your deal. Please note that renewing your agreement means you can count the CART days from zero. As you can see, CART is a useful addition to your car insurance policy. However, it all comes down to your decision because you aren’t mandatory to include it in the deal.