What It Is: “Auto Gap” cover guarantees that if a new vehicle faces total loss, the policyholder receives a brand new replacement, addressing the difference between the damaged car’s depreciated value and a new one’s cost.
The Story: Just months after purchasing her dream car, Lila faced the unthinkable—a tree fell on it during a storm, causing irreparable damage. But with her “Auto Gap” coverage, she got an identical, brand new replacement without dwelling on depreciation costs.
Last modified: October 31, 2023
