Nearly 1 In 3 Cars Are Totaled In An Accident — How To Get A Brand-New Car After A Crash1
Involved in a pretty nasty accident near her home, Sarah’s stomach dropped as she surveyed the wreckage of her brand-new SUV. She knew it was more damage than a body shop could handle. Sarah braced for a painful insurance battle, assuming she’d receive a fraction of what she originally paid for the vehicle.
But as she sifted through her policy, she stumbled upon an unexpected miracle—a “new car replacement” clause she had completely forgotten about. Instead of a check for her car’s depreciated value, her insurer handed her enough money to purchase a brand-new replacement. The best part? She hadn’t even known she had this coverage! Sometimes, the fine print hides the best surprises.
New car replacement coverage can be a game-changer, especially for drivers who own newer vehicles. Without it, depreciation can leave car owners paying out-of-pocket to replace their lost vehicles. Reviewing your policy regularly can help you take advantage of hidden benefits like this.
Questions to ask your agent:
- Does my policy include new car replacement coverage?
- Are there restrictions on the type or age of my vehicle?
- What factors determine my payout in case of a total loss?
1: https://www.carfax.com/maintenance/number-of-car-crashes-in-the-us