Mechanical breakdown policy available for new automobiles. (Property/Casualty).To help offset car-repair costs, auto owners of new and leased cars are increasingly turning to mechanical breakdown insurance that typically provides broader coverage than car manufacturer or dealer warranties. John Zinno, president of Geico's Safe Driver Motor Club and assistant vice president of Geico, says the insurer's mechanical breakdown insurance makes sure that covered repairs don't don't 1. Contraction of do not. 2. Nonstandard Contraction of does not. n. A statement of what should not be done: a list of the dos and don'ts. cost the car owner more than $250 of out-of-pocket expenses out-of-pocket expenses n. moneys paid directly for necessary items by a contractor, trustee, executor, administrator or any person responsible to cover expenses not detailed by agreement. . Geico's product combines components of collision and comprehensive coverage and covers items that not all manufacturer or after-market warranties guarantee, such as exhaust systems Noun 1. exhaust system - system consisting of the parts of an engine through which burned gases or steam are discharged exhaust automobile engine - the engine that propels an automobile , clutch and electrical accessories. Under the policy's provisions, Geico pays 100% for covered mechanical repairs, minus the deductible That which may be taken away or subtracted. In taxation, an item that may be subtracted from gross income or adjusted gross income in determining taxable income (e.g., interest expenses, charitable contributions, certain taxes). . Auto owners can take their car to any licensed repair facility, although repairs still under manufacturer's warranties must be repaired by a dealer. The coverage must be added within the first 11 months of purchase of a new car or within the first 11,000 miles. It then becomes part of the regular Geico policy and can be renewed up to 100,000 miles or seven years. Another advantage of the plan is that it can be transferred at no charge, provided the new owner is or becomes a Geico policyholder Policyholder An individual who owns an insurance policy. . |
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