Auto Replacement Policy
What exactly is auto replacement protection with Allstate? If my 2020 SUV gets totaled, will I receive more than the KBB value?
Auto replacement policy
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Auto replacement protection from Allstate is a coverage option that can help you replace your vehicle with a new one if it is totaled in an accident. If you have this protection and your 2020 SUV is deemed a total loss, you may receive a payment that is higher than the typical cash value, which is often based on resources like Kelley Blue Book (KBB).
Typically, this means that instead of just receiving the KBB value of your totaled SUV, you could qualify for a payment that helps cover the cost of buying a new vehicle of the same make and model (or similar) without facing significant depreciation. However, the exact benefits and coverage limits may vary based on your specific policy details, so it’s best to review your policy or contact your Allstate agent for more information on how auto replacement protection works in your case.