Leusch Insurance Services Agency, Inc. / Insurance Concepts

Vehicle Replacement Cost Coverage

Prices of new vehicles remain high. As a result, insureds who experience a total loss on a newer vehicle are more exposed to financial loss than ever before. Don't forget to add Celina's Replacement Cost Coverage endorsement to protect your insureds when they purchase a new vehicle.

Replacement Cost Coverage will replace a covered vehicle that is declared a total loss with a new vehicle of the same or similar year, make, series and model as the vehicle it replaces. The following qualifications must be met in order to add this coverage to a covered vehicle:

• Must be added within six months of the purchase date of a new vehicle.
• Vehicle must have less than 5,000 actual miles on the odometer.
• Insured must be the original owner.
Replacement Cost Coverage will continue to apply until the renewal after the vehicle reaches an age of three. Both Comprehensive and Collision coverages must be maintained on the vehicle. Leased vehicles are not applicable for this coverage.