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
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. “
Did this answer help you?
Ask us a question by email and we will respond within a few days.
Have a different question?
You can meet us at our office and discuss the details of your question.
Browse by topics
What others are asking
Will the insurance rates on my Toyota Corolla go up if I get my own policy instead of staying on my parents' policy?
I'm a 26-year-old first-time driver, but I've been on my parents' insurance since I took driving lessons. Currently, I have a Toyota Corolla. Is it cheaper for me to stay on their insurance or get my own?
Apr 16, 2021
Do I need continued coverage if I've sold my car?
I sold my car and tried to cancel my GEICO policy. The customer service agent told me that it was wise to keep "continued coverage" insurance. Do I really need this type of car insurance?
May 04, 2021
"Should I have full-coverage or liability-only insurance on an old Honda Civic? "
I own a 2010 Honda Civic with 126,000 miles that's worth around $5,000. I am paying $718 every six months for full coverage with $500 deductibles. Liability-only coverage with the same insurance carrier costs $491 every six months, saving me $454 a year. What would you do?
May 06, 2021