Coverage that replaces your totaled vehicle with a brand new one

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Peace of Mind

In the event of a total loss*, Vehicle Replacement Insurance (VRI) offers you security in knowing your vehicle will be replaced, subject to the terms of your policy.

A new set of keys in hand

In the event of a total loss*, VRI gets you in and out of the dealership with a new vehicle, subject to availability, even if your original vehicle is an older model.

Depreciation protection

Vehicles depreciate greatly from the moment you drive them off the lot. Vehicle Replacement Insurance covers the lost value.

How it works?

1 A new vehicle

Congratulations! You've purchased a Vehicle Replacement Insurance policy. Coverage goes into effect the next day after purchase. Your vehicle will be replaced, subject to the terms of your policy, in the event of a total loss*.

2 Value drops

The moment you drive off the lot, the value of your new vehicle begins to depreciate and continues to do so with time and miles driven.

3 A total loss*

In the event of a total loss* due to an accident, fire or theft, your Vehicle Replacement Insurance policy kicks in.

4 A new vehicle

Simply put, your Vehicle Replacement Insurance covers the difference between the auto insurer total loss* settlement and the cost of a new replacement vehicle. You will receive a voucher to purchase a brand new Chrysler, Dodge, Jeep_®, Ram or FIAT^® vehicle.

Protect your new vehicle purchase

Many auto insurance policies** don't cover depreciation loss

In the event your vehicle is totaled, many auto insurance policies will only cover the vehicle’s actual cash value leaving you to pay for the difference.

Even if your vehicle is paid off, you're still at a loss regarding depreciation costs. Vehicle Replacement Insurance eliminates those financial losses and replaces your totaled vehicle with a new vehicle, subject to the terms of your policy and availability.

FAQs

A GAP Waiver covers the outstanding loan amount you owe on your total loss* vehicle. However, it does not account for vehicle depreciation or inflation costs of new vehicles when your car is deemed a total loss* by your auto insurance company. Vehicle Replacement Insurance (VRI) covers the difference between the insurance payout for a total loss* and the cost of a brand new equivalent vehicle, addressing both depreciation and inflation.

While a GAP Waiver covers the balance of your loan, VRI provides broader protection by covering the cost to replace your vehicle with a new one of the same or similar make and model. This is especially beneficial in situations where vehicle prices have increased or your vehicle has depreciated significantly.

VRI offers an optional benefit that covers the deductible of your auto insurance in case of partial or total loss*. We cover up to $1,000 per claim, with coverage for one deductible per year of your VRI policy available for partial losses.

You can pay the premium monthly. The monthly rate is fixed for the duration of your policy, ensuring your payments do not increase during the term.

To report a claim, simply call our claims team at 1-800-206-1913. Our team is happy to help.

No, VRI policies are not transferable if you sell your vehicle.

Changes to your coverage are not permitted after the first 30 calendar days of the policy.

Vehicle modifications can impact your VRI coverage. It is crucial to inform us of any significant changes to ensure your policy remains in effect and accurately reflects your vehicle's condition.

No, there is no waiting period. Your coverage begins the next day after purchase.

We provide coverage exclusively for brand new vehicles, offering flexible coverage terms of 2, 3, 4, or 5 years to suit your needs.

No, we do not cover vehicles used for commercial or business use (full or part time), rental, taxi, livery, delivery, or ride share services; municipal, volunteer, or professional emergency services, fleet or pool services.

Yes, you may cancel your VRI policy for a full refund within 30 days from the effective date of your policy if no claims are filed against the policy. In addition, you may cancel the policy for a partial refund after the 30 day period if no claims are filed against the policy. Please read the sample Terms and Conditions for all applicable details about cancellation.

* Total loss means when your vehicle is deemed beyond economical or constructive repair by your auto insurance company as a result of accidental damage, fire, or theft.

** Many automobile insurance policies pay total loss claims according to the actual cash value of the vehicle on the day of the loss, which means your claim settlement could be reduced by the vehicle’s depreciated value.