New Vehicle Protection
Buying a new vehicle is an exciting experience but new vehicles can depreciate in value very quickly. Some vehicles lose up to 35 per cent of their value one to two years after purchase.
If you’re in a collision and your new vehicle is written off, Basic Autopac will cover the cost of the vehicle’s market
value, but this is its value after depreciation. That means
you may be left with a vehicle loan for more than your vehicle’s value or you’ll have to spend more money to replace the new vehicle you just purchased.
With New Vehicle Protection insurance, which covers new and late-model used vehicles, the full purchase price of your vehicle is protected, including an allowance for inflation. So if you’re in a collision and you need to buy a new vehicle, you won’t have to put more money towards the purchase
