Auto insurance agencies, when paying for repairs after a car is damaged, may at times opt to purchase parts from a company or manufacturer other than the vehicle's manufacturer when such parts cost less. Insurance companies guarantee that the replacement parts which are not by the original equipment manufacturer (OEM) will work just as well as, or better than their counterparts from the car's manufacturer when they use replacement parts from other companies. Following is a description of how the practice of purchasing competitive auto repair parts works, and why it is beneficial to both the insured and the insurer.
Competitive Auto Repair Parts and Car Insurance
Following a covered car's being damaged, auto insurance companies will set about finding the most affordable way to repair the car without sacrificing quality of the replacement parts. Although the vehicle's manufacturer often has the best prices on replacement parts, sometimes other companies sell parts (non-OEM parts), that are of at least the same quality for less. In such cases, insurance companies will opt to go with the manufacturer that, though not the maker of the car being repaired, sells parts for less.
Competitive Auto Repair Parts and the Insured
The driver whose car is covered by an insurer who elects to purchase parts from a manufacturer other than the maker of the car also benefits. When auto insurance agencies do this, it is because money is saved, and when money is saved by the insurance provider, the overall cost for repairs following a claim is less, and the at-fault driver presents less of a burden on his or her insurer.
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