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Should I get new car replacement insurance?
How does new car replacement insurance work? I was shopping around for car insurance and a friend of mine said that new car replacement insurance is a smart choice. Should I get this product?
Eric Schad · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
“
New car replacement insurance
pays for the value of a new car of the same make and model you currently own minus any deductible.The advantage is that you can get a new car, which is especially helpful if you’re
upside down
on your car loan. Keep in mind that this coverage is usually only available if you have both collision and comprehensive insurance.”
View full answer
- Gregory R.
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