New Cover a Car

If you have donated to a new car, proper car insurance can offer a new vehicle if a total loss in the first months on the road explains.

If you are unlucky enough to have your new vehicle written off in an accident, or stolen and not recovered, you want to make a replacement make sure you get equal from your car insurance.

New car replacement cover is an element of car insurance, which means insurance companies will offer a new car from the same brand, model and specifications if your is considered about economic repair.

How common is it to replace new car spare covers?

Comprehensive car insurance cover new car replacement cover and many thirds, fire and theft (TPFT) policies also have this clause.

The big difference is that comprehensive policies that can deal with accidents and theft, while TPFT policy only against the new car can be destroyed by fire or theft.

On May 26, 2015, 225 Gocompare.com audited comprehensive car insurance in the matrix of independent financial researcher Defaqto and found that 92% of new car cover included.

137 TPFT directive, 63% contain it.

Percentage of damage

There are a number of conditions for damage to be taken to qualify cover replacement cars.

First, it must be considered so damaged that instead of simply replacing it must be repaired.

Most insurance companies require that the cost of the vehicle to repair a certain percentage of the list price for a new vehicle to exceed - often 60%.

So, if the list price of the car is £ 10,000, which would be damaged by a sum of £ 6,000 for new apartments in a trunk.

The amount of damage reported for a comprehensive policy, which appear in Defaqto was 60% to 87% of the new housing policy including a car.

It limits the minor damage to 12% of the measures applies and only a policy limit damage was greater than 70%.

Five policies did not use a percentage of the damage, according to the price list and had agreed instead of value, meaning that the insurer would provide a new replacement car if the cost of the vehicle to repair would be higher than the value agreed by vehicle Beginning with politics.

Age limits and kilometers

In order to qualify for the new car replacement, must be purchased over a certain period of time, which is usually 12 months your car.

In the case of pre-registered cars, the Financial Ombudsman is as if the vehicle was registered for the first time when it was sold by the dealer. †

Comprehensive Defaqto measures including the new cover replacement cars, the new rental period was 12 months for 89% of them, while the rest new car entries 13-24 months.

Some guidelines also state that the car might not exceed a certain number of miles within the deadline of new cars to qualify for the new car cover.

Guidelines including the new replacement car cover, had 17% a kilometer limit. 12% was 10,000 miles, while the remaining 5% were between 12,000 and 15,000 miles.

What to do if you have no new car cover

If your car has become over the new car period just edged, or if you are one of the few measures that do not include this coverage, you may not be able to take advantage of the new car in coverage.

Due to the drastic decline in market value in the first year of a new car, this can be expensive.

Your insurer may have bribed a market value payment for a car that is much less than you previously paid for it just a few months.

Guaranteed asset protection (GAP) insurance is often sold with new vehicles for the difference between the current market value and the cost of purchase.

However, if your insurance is your car and think busted, it could be repaired or worth more, you can question your decision.

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