Understand how auto insurance companies value cars and learn why your insurance may not cover the cost of a similar vehicle.
Gap Insurance Replacement value insurance, sometimes called new car replacement insurance, is a policy feature offered by car insurance companies. This option gives you money for a brand...
A vehicle’s depreciation in value can come back to bite if you get into an accident shortly after you purchase the car. Your car insurance company may put a value on your car that’s less than the p...
New car replacement insurance covers the cost of buying a new car if you total yours in an accident.
But you may already have the required coverage through your personal auto insurance policy or... Typically only covers repairs or vehicle replacement up to the car’s actual value and only...
You’ll probably appreciate new car replacement insurance if your car is totaled, but in most cases the extra coverage comes at a price.
Buying a new car is a significant investment of your financial resources. The last thing you want is to pay out again if your car is totaled in the first year or so of ownership. For drivers in this situation, a type of insurance called new car replacement coverage can help you get behind the wheel of a new car with limited financial repercussions. Is new car replacement insurance worth it? Bankrate’s insurance editorial team took a close look at what new car insurance is and how it might benefit you as the owner of a new car. ...
Liability Coverage · Liability coverage is required car insurance in most states. There are two types of liability coverage – bodily injury liability coverage and property damage liability coverage. It typically helps cover damages for those injured or killed and incurred property damage as the result of an at-fault accident. Collision Coverage · Collision insurance is a type of coverage that helps cover damage to the insured’s car as a result of a collision. In an at-fault accident where the car is totaled, collision insurance can help c ...
actual value of a piece of property, car, or personal object. Property insurance policyholders usually would instead be reimbursed for the replacement cost rather than actual cash value, as...
Gap insurance helps pay off your auto loan if your car is totaled and you owe more than its depreciated value. See our informational video and find out more.