Autoplan Insurance
New vehicle protection
You love your new car, but can you afford to replace it because of a crash?
After a home, your new car is usually the second-largest purchase you'll make. You can protect your investment with coverage that will repair or replace it in the event of a crash.
New Vehicle Replacement Plus (NVR+) and Replacement Cost Coverage (RCC)
New Vehicle Replacement Plus and Replacement Cost Coverage are all about giving you choice and peace of mind, even if you were at fault for the crash.
After a crash
If your vehicle can be repaired, we'll fix it with new parts from the original manufacturer, if available.
If your vehicle is not repairable, we'll give you a payout based on the current cost of the vehicle's make and model.
To account for depreciation and inflation, the cost to replace the vehicle with the newest model available will be factored into your payout. If the vehicle model is no longer available, we'll also add a 2.5% inflation factor per model year (based on the cost of the vehicle when it was new) to your payout.
NVR+ Enhancements
With NVR+, your vehicle is considered not repairable when the cost to repair exceeds just half of its current market value. Without NVR+, the threshold is a higher percentage of the vehicle's value.
With NVR+, we’ll also reimburse your deductible.
When is a vehicle not repairable?
A vehicle is typically considered not economical to repair when it would cost more to repair than what the vehicle is worth.
Why get it? Here are some examples
Omar was thrilled with his new car and made sure he had New Vehicle Replacement Plus coverage — just in case something happened to it. Sure enough, he was in a bad crash less than a year later. The repair costs would have been over 70% of the car's current value. Normally, the car would be repaired, but because he purchased NVR+ coverage, the car was determined to be not repairable and he was paid the full replacement value.
When Naomi bought her new car, she chose Replacement Cost Coverage for extra protection. Her car was in a crash, and she was happy to find out that with RCC, the car's repairs were done with brand-new parts from the original manufacturer.
Eligibility
You can get NVR+ and RCC for most standard vehicles. Some luxury vehicles are ineligible for NVR+.
Vehicles can be no more than two model years old for NVR+ and no more than three model years old for RCC.
To get NVR+ or RCC, you also need to have Collision and Comprehensive coverages or Collision and Specified Perils coverages.
To confirm your eligibility and get a quote for NVR+ or RCC, talk to your broker.
Not eligible?
If you're not eligible for NVR+ or RCC coverage, you may still be eligible for Limited Depreciation Endorsement. Talk to your broker for more information.
Limited Depreciation Endorsement (LDE)
Consider Limited Depreciation Endorsement if you're not eligible for NVR+ or RCC.
To get LDE, you also need to have Collision and Comprehensive coverages or Collision and Specified Perils coverages. LDE is available on most standard vehicles that are no more than three model years old.
If your vehicle can be repaired after a crash, repairs will use new parts of similar kind and quality, when available.
If your vehicle is not repairable, LDE provides you with either:
a new vehicle of the same make, model and year (if available)
a payout based on the original purchase price (or manufacturer's suggested retail price at the time of purchase - whichever is less) if the same vehicle model year is no longer available
