Our Prius is coming (hopefully) next week, and our insurance agent is recommending adding a replacement option, at a 1% premium, that requires Safeco to replace the car with a New one (if totalled within the first year, I think he said), instead of compensating us for a used 2006 (which of course it is as soon as we drive it off the lot). Sounds good to me, but I wonder what others think of this?
<div class='quotetop'>QUOTE(TechLite @ Aug 1 2006, 01:33 PM) [snapback]295734[/snapback]</div> I've had replacement insurance on my cars for years. I like it that way.
<div class='quotetop'>QUOTE(Rand Reed @ Aug 1 2006, 10:35 AM) [snapback]295736[/snapback]</div> Replacement IS the best way. If you finance the car, you may also look in to 'gap' insurance so that you are covered for the difference in what the car is 'bluebooked' and what you owe to the finance company/bank/credit union. An acquaintance's truck was stolen and he was stuck with $5k difference in what the insurance paid and what he owed.
our insurance policy includes the replacement option, i like the idea very much. hell they did it for our renter's insurance too!
