Featured Stories

Other Pamplin Media Group sites

Janet Peters Allstate Insurance: Three key coverages for your new car

Brought to you by INSIDERS Janet Peters Allstate Insurance

If you are getting a new car, you may be able to purchase insurance coverages that help protect your vehicle if it's accidentally damaged beyond repair. These coverages are: new car replacement coverage; repair provision coverage; and loan or lease gap protection coverage.

Specifically, these three types of new car insurance coverages work like this:

New car replacement. This coverage may help pay to replace a new car that's totaled. With this coverage, your policy may allow you to replace the totaled vehicle with a new one of the same make, model, and equipment.

Repair provision. Some policies may also cover the cost of repairs should there be only a partial loss to your new vehicle, regardless of its actual cash value. Repair provision coverage may help pay for repairs to a damaged vehicle on a replacement cost basis without deducting the depreciation in its value.

Loan or lease GAP. Guaranteed Asset Protection, or GAP coverage, may help pay the difference between the amount owed on an auto loan or lease and the totaled car's actual cash value. Even if your car can no longer be used, you're still responsible for any remaining loan or lease payments. So if the reimbursement check from the insurance company is not enough to cover what you owe, GAP coverage may help pay for the remaining amount ~ so you won't be stuck paying for a car that is now in the scrap yard.


1951 Oak Street Suite B

Forest Grove, Oregon


This email address is being protected from spambots. You need JavaScript enabled to view it.>This email address is being protected from spambots. You need JavaScript enabled to view it.