The catch behind 'Better automobile' and 'New Car Replacement' insurance
In a push to draw in additional customers, Liberty Mutual says it's raised automobile replacement a notch. Ruin your vehicle in associate accident, the insurance underwriter trumpets in current TV ads, and it'll obtain you a fair higher ride.The option is termed "Better automobile Replacement," that apparently improves on the quality coverage most insurance corporations already give if your vehicle is deemed a complete loss.
But stop dreaming, you are not obtaining a mighty Mercedes for a humble Hyundai.
"Better Car Replacement" works like this: Instead of writing you a check for a similarly valued car, Liberty Mutual says it will write a check for one that's a year newer and with at least 15,000 fewer miles. The replacement would have to be in the same class and basic model type as the smashed one.
The company offers an example on its website: "So if you have a 2007 vehicle with 35,000 miles on it and are involved in a total-loss accident, Liberty Mutual will give you the money for a 2008 model with 20,000 miles on it."
