What is the definition of Competitive Replacement Parts?

Competitive Replacement Parts are parts produced by a company other than the original manufacturer of the vehicle. These parts, since they are not produced by the company that produced the vehicle, are much cheaper.

The use of Competitive Replacement Parts in the repair of an insured vehicle is one way those insurance companies keep vehicle repair costs down. In turn, premiums are kept at low and reasonable rates. However, there have been a number of class action suits and legal battles that have arisen because of the use of such parts.

These replacement parts usually include hoods, bumper grilles and covers and fenders - parts that are usually damaged in a collision.

These are also known as competitive auto replacement, generic auto parts.

• Reinstatement
• Registered Principal
• Liquor Liability
• Businessowners Policy (BOP)
• Directors and Officers Liability Insurance