Getting a new car is a big deal for everyone, and protecting this purchase is important. Before you drive off the lot, consider getting new car replacement coverage.
Do I Really Need Extra Coverage?
If you are financing your new vehicle, you usually don’t have a choice on purchasing extra coverage. Comprehensive and collision insurance are typically required until the vehicle is paid off. New cars also depreciate quickly, so if anything happens to your new vehicle, you’ll likely only get a percentage of what you originally paid for.
New car replacement insurance pays the value of a brand new vehicle of the same make and model (minus the deductible), if your vehicle is declared a total loss. New car insurance is typically only available to those who purchase collision and comprehensive insurance.
Do Your Research
New car replacement insurance is not offered universally. Be sure to speak with your insurance agent to see if new car replacement insurance is offered, or what would be similar.
Do your research on various insurance agency policies and view their details on a new car insurance policy. Some companies don’t offer this policy in certain states or have strict requirements on ages of the vehicle.
Payne Insurance Group
Payne Insurance Group wants you to be safe and covered while out on the road! Be sure to look over your policy to be sure you are covered!
Payne Insurance Group provides insurance for auto, home, commercial, and much more! Payne Insurance Group has partnered with over 13 businesses across the Rio Grande Valley, As a result, we have created a one-stop-shop for all your automotive needs.