Ownership Your Corner Wrench: With LED lamps, it may be time to rethink your insurance coverage

20:15  12 may  2018
20:15  12 may  2018 Source:   driving.ca

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But when you consider that few factory LED lamps have replaceable bulbs, and when you get a shocker at their replacement prices, you might want to rethink those ultra-high liability insurance deductibles on your ride, if you can.

Your Corner Wrench : With LED lamps , it may be time to rethink your insurance coverage https Loading seems to be taking a while. Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.

a pair of black car© Provided by Driving.ca

LED (light emitting diode) lamps for automotive applications seem to be taking off like a wildfire lately with even some of the least expensive econo-boxes sporting this high-tech illumination in one form or another. But when you consider that few factory LED lamps have replaceable bulbs, and when you get a shocker at their replacement prices, you might want to rethink those ultra-high liability insurance deductibles on your ride, if you can.

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Your Corner Wrench : With LED lamps , it may be time to rethink your insurance coverage .

Your Corner Wrench : With LED lamps , it may be time to rethink your insurance coverage . Road Test. First Drive: 2018 Rolls-Royce Phantom.

Next to bumper components (fascias, trim, brackets, etc.) lamps are one of the most common categories of auto parts to get damaged in collisions. After all, they’re right out of the corners of almost every model and fairly vulnerable to even the slightest impact. Stop asking why carmakers went this route in the first place. LED lamps take a fraction of the electricity that incandescent bulbs do and this means improved fuel economy (albeit a small improvement). And thanks to the growth of the sight-impaired demographic of our globe, stronger and brighter lights are in high demand.

In addition to all this, few automakers provide LED bulbs as separate replacement parts but only service them in lamp assemblies. The cost of these units can be fairly heavy, running at more than $1,000 per unit in some cases for mainstream vehicles. For example, on FCA’s all-new 2019 Ram Longhorn model truck, there are no bulbs available for either the LED headlamps or tail-lamps, with the former running at more than $1,300 each and the latter costing more than $1,000 each.

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Inside the home, earthquake coverage was spartan, covering just ,000 of contents. Everything else that toppled over, wrenched apart or fell out of cabinets had to be replaced by But if your reasons for not having earthquake insurance include any of the following, you may wish to rethink your stance

Your Corner Wrench : With LED lamps , it may be time to rethink your insurance coverage .

So what’s all this got to do with insurance? Many consumers will try to lower their insurance premiums by opting for a high claim deductible. Carrying a $1,000 deductible is not uncommon. And to avoid premium hikes due to claims history, often drivers will pay out of pocket for vehicle damage rather than going through their insurance company. When you ride is equipped with expensive lights, these practices might not turn out to be money savers.

But collision damage isn’t the only reason to change a lamp. While LED lights do last a lot longer than their incandescent predecessors, they can still fail and liability insurance won’t be of much help. You may want to ask about extended warranty coverage when purchasing a vehicle equipped with LED lamps. Few automakers cover lamps with their extended plans presently, but if enough consumer interest is expressed, and enough shoppers shy away from LEDs due to replacement costs, this may change.

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Insurance companies cannot increase rates willy-nilly whenever they want.  For an insurance company to receive approval for a rate increase it must be able to show that it has actually had losses in one of the categories—home, auto, etc.

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