Replacement Cost Plus for Personal Auto

You did the research, you saved the money and now you have your dream car, but what happens if you’re in an accident? The value of your new car dropped immediately when it left the dealer’s lot, and most insurance policies settle losses based on the actual, depreciated value.

Your claim settlement may not be enough to replace that dream car from the dealer or even enough to pay off your loan, leaving you with no transportation and a debt to the bank.

Cincinnati combines two great coverages on one endorsement, for one price, to address this need. Add our optional Replacement Cost Plus coverage within 30 days of your purchase of a new car that is of a current or previous model year and has less than 1,000 miles on it. If you total your car, instead of the depreciated value, you receive either:

  • a new car, straight off the dealer’s lot -- You receive a brand new auto when your loss is due to a covered total collision or other-than-collision loss (excluding fire, theft, vandalism, or damage to your auto while stolen). Whenever available, your new car will be of the same make, model and equipment of the car you lost , or
  • the balance of your loan -- You receive the value of your car plus any additional amount you need to pay the balance of your loan when your loss is due to fire, theft or vandalism or to damage to your auto while stolen.

Find An Agency