New vehicles can drop in value by more than 20 percent after the first 12 months of ownership and decrease roughly 10 percent annually for the next four years, according to Carfax.com.
Should you get into an accident after buying a new car, your insurance pay payout could be much less than what you paid for the car or still owe on it.
Erie Auto Security provides coverage for the gap between what the car is worth and what you owe and can put you back on the road driving a newer model car.
CLOSE INSURANCE AGENCY www.closeins.com 304-258-3900
Your insurance helps get you back behind the wheel after an accident. Auto Security puts you in a more favorable place than before. ERIE offers an affordable add-on coverage with better replacement value should something happen to your cherished car. Auto Security® provides five key coverages:
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New vehicle replacement – ERIE pays the cost to replace the car* with the newest comparable model year.
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Better vehicle replacement – ERIE will pay the cost to replace your vehicle with a comparable model up to two years newer and 30,000 fewer miles.*
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Repair coverage – pays to repair a new vehicle, without deduction for depreciation, if it isn’t a total loss.
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Auto lease/loan gap – pays the difference between the actual cash value and the amount due on a lease or loan.
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No early termination fees – covers the penalties for terminating a lease early, up to $500. Get Auto Security at any time For just a few extra dollars a month, you can add Auto Security any time before there’s an accident that results in a claim. The coverage is not just limited to when you buy the car or first insure it with ERIE, and you don’t have to be the vehicle’s original owner. Go beyond just getting back on the road.
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