Auto Replacement Policy
What exactly is Allstate’s auto replacement protection? If my 2020 SUV is totaled, will I receive more than the KBB value, or how does that work?
Auto replacement policy
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Auto replacement protection from Allstate is a coverage option that can provide you with additional benefits if your vehicle is deemed a total loss after an accident. Typically, if you have this coverage and your 2020 SUV is totaled, you may receive a payment that exceeds the vehicle’s current market value according to resources like Kelley Blue Book (KBB).
The specific amount you receive can vary based on your policy details, but generally, it aims to help you replace your vehicle with a similar new model rather than just compensating you for the depreciated value of your totaled vehicle. It’s always a good idea to review your policy or contact your Allstate agent for exact details on the coverage and how it applies to your situation.