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    Programs » Vehicle Physical Damage     Monday, August 20, 2018    
  Vehicle Physical Damage Program   


CalTIP's Vehicle Physical Damage Program provides members with comprehensive and collision coverage to transit, staff, and maintenance vehicles.  The program is structured to include both self-funded (pooled) and purchased coverage.  CalTIP self-funds the first layer up to $100,000 with members selecting from various deductible options per vehicle.  Excess insurance is purchased for losses exceeding $100,000 and provides the members with coverage up to $30 million per occurrence.  CalTIP's program is additionally enhanced with an aggregate stop-loss feature.  The aggregate stop-loss is equal to the five highest deductibles of any vehicles involved in a multi-vehicle loss.          
Member Deductible:  Members are given the opportunity to select a deductible option per vehicle.  The deductible options are $500; $1,000; $2,5000; $5,000; and $10,000.  Vehicles with an actual cash value of $50,000 or greater must select a deductible of no less than $5,000.

Pooled Program Layer:  CalTIP self-funds or "pools" the first $100,000 of coverage over the member agency's deductible.

Excess Insurance:  CalTIP purchases excess insurance for losses exceeding $100,000.

                                                                2018-19 Vehicle Physical Damage Coverage