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Home / Individuals / Auto insurance / Damage coverage options / Additional coverage / New vehicle depreciation coverage
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New vehicle depreciation coverage

This coverage option helps protect you against depreciation of the value of your brand new vehicle in its first 24 months.

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Why not protect your investment by insuring its purchase price? If it is damaged beyond repair, you will receive the full amount it paid for your new vehicle.

How it works

First, the vehicle must be brand new purchased from a dealership in order to qualify for this coverage. The vehicle may be leased or owned. You will need to show your bill of sale.

If the new vehicle is damaged to an extent that it cannot be repaired in the first 24 months of your vehicle's life, you will receive the full amount actually paid for your vehicle, or the manufacturer's list price - whichever is less - without any depreciation.

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Rev: 1.0
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