Loss of Use Coverage - Here's Why You Might Need it

October 21, 2018

How disrupted would your life be without your vehicle? Here’s why you might need Loss of Use Coverage.

How would you get to where you need to be on a daily basis if your vehicle is out of commission? Do you have a second car, could you use public transit, or would someone loan you their vehicle? It’s always good to be prepared if something does happen to your vehicle in order to continue with what is going on in your life. MPI has an extension product called loss of use coverage which provides you with money towards a rental vehicle. You have coverage if your vehicle is stolen or accidentally damaged. It will also pay for reasonable costs of other transportation no matter who is at fault There are two levels for vehicles and is also available for motorcycles and mopeds.

1. Level 1

  • Will provide you $39.02 per day to a total of $1,170.60 (30 days) taxes included
  • Covers the costs to rent an economy vehicle
  • Good choice if you are not dependent on a truck or an SUV to get around for a short period of time
  • Also will cover fares for taxi and bus transportation

2. Level 2

  • Will provide you $68 per day to a total of $2,040 (30 days) taxes included
  • Covers the cost to rent a full-sized vehicle (truck, SUV, van)
  • If you have a large family or need a truck for work purposes, you would be better off choosing this option
  • Also covers fares for taxi and bus transportation

3. Level 3

  • Will provide you $135 per day to a total of $4,050 (30 days) taxes included
  • Provides coverage if your motorcycle or moped is stolen or damaged accidentally
  • Coverage covers the rental of a motorcycle, moped or large vehicle

The premium rates are dependent on what level you choose as well as what territory you reside in. However, if you have merits you’ll receive a safe driving discount which will reduce the premium. Note the coverage will end once you get your vehicle back, when a settlement offer is made or once the coverage limit has been met. If your vehicle was in a collision, coverage will begin immediately. If your vehicle was stolen coverage will begin the day after you report the claim at 12:01 a.m. Ultimately, you know what coverage you need to keep your life business as usual after situations of theft or collision. Know the options and choose what will work best for your life and needs!


Feel free to get in touch with any questions you may have.

MIG Insurance
MIG Insurance