Everything you need to know about new car replacement insurance

| February 8, 2019

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Imagine getting a new car just for an accident to happen a few months later. In the worst case scenario, your car would be completely totaled. This leaves it up to your insurance company to decide how much money you’ll receive for a replacement. Without the proper insurance coverage, a brand new car that’s totaled can cost you enormous out-of-pocket costs. Since new cars lose value quickly, basic insurance coverage won’t suffice. This leaves you with the burden of thousands of dollars in replacement costs. In some situations, purchasing new car replacement insurance can be a smart add-on to an auto insurance policy. This extra coverage will help ease the burden of replacing a new car, especially when a payout is significantly less without the added insurance.

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Flyreel

Flyreel offers insurance-specific AI for commercial and residential property insurance carriers. By putting the power of AI in the hands of both customers and insurers, Flyreel automates inspections while improving risk management outcomes and claims experiences. Flyreel’s proprietary computer vision and machine learning technology empowers carriers to make smarter, data-based underwriting and risk management decisions, and even proactively prevent losses.

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