When it's time to get a different car, it's always tempting to buy a brand new one. You get the benefit of the full warranty, you know the car's history, and of course, it's hard to beat that new car smell! The problem is it depreciates almost as fast as it accelerates, which makes replacing it tough if you get into an accident and it's totaled. Will your insurance company pay what it would cost to buy a brand new one? It might if you have new car replacement coverage—and this coverage is included on all Shelter auto policies. What does that mean for you?
Let's say you are involved in an accident and total your brand new car. If you bought it within the last 12 months and it has less than 15,000 miles on it, Shelter will pay you an additional amount—above the comparable value—for the same year, make and model.