Which insurance companies offer new car replacement coverage?

I'm buying a new car and getting a great deal on it. I won't need gap insurance, so I'd like to get new car replacement coverage instead. What companies offer it? Is there anything I should watch out for in the terms and conditions?

Answer provided by
Emily Maracle
Answered on May 07, 2021
Allstate, Erie, and Travelers are a few carriers that offer new car replacement coverage. Other carriers may offer similar coverage under a different name.
New car replacement coverage is a great way to protect yourself in case your vehicle is marked a total loss. It ensures that your insurance company will replace your vehicle with a car of a similar make and model.
However, every car insurance carrier is different. You’ll want to make sure that you fully understand what your new car replacement insurance will cover. Some carriers only offer coverage for the first year or two, or up to a certain number of miles. “

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