Auto Replacement Policy Explained
What exactly is auto replacement protection with Allstate? If my 2020 SUV is totaled, will I receive compensation that exceeds its KBB value?
Auto replacement policy
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Auto Replacement Protection is an optional coverage offered by Allstate that helps you replace your totaled vehicle with a new one, rather than just paying out the market value based on sources like Kelley Blue Book (KBB). If your 2020 SUV is totaled and you have this coverage, you may receive a settlement that covers the cost of purchasing a new vehicle of the same make and model, or a similar vehicle, rather than just the depreciated value of your SUV. It’s always a good idea to review your specific policy details or speak with your Allstate agent for clarification on the coverage limits and how the payout process works.