USAA has something new that some of you may wish to check out with your own insurance companies. It's called car replacement assistance. Basically, for less than $5 every six months, it provides me an extra 20% of coverage in the event that my Jeep is a total loss. With that, and the $5,000 of mod coverage in the policy, I'm better covered to replace all those aftermarket expenses that might be needed for a new vehicle. That mod coverage is pretty generous, BTW: Most insurance companies only provide $1000 of coverage. Anyway, car replacement insurance may be something some of you wish to pursue--especially if you're with USAA.

 

So wouldn't this be like GAP? If not, it sounds like if I had a vehicle paid off, opted for the car replacement assistance, I'd get the value of the vehicle PLUS 20% -- not just value of vehicle and difference in what you owe such as GAP...Right?

I've got my Jeep through Navy Fed (with GAP...what's $600?!) but the insurance through USAA. Also...I've never been able to get a square answer from them regarding the "mod coverage". Do I have to ask for anything special? I document everything in the even the unthinkable happens but they just tell me, "Yeah, just document and take pics".

 

In the USAA policy or just looking at your policy summary online under comprehensive it mentions $5000 limit may apply to custom equipment.

[h=3]Comprehensive[/h] Covers damage caused by something other than another vehicle such as hail, theft, or collision with an animal. $5000 limit may apply to custom equipment and glass replacement may be subject to your deductible.

 

It does sound similar to gap, but it isn't. Gap pays the difference between what the vehicle is worth, and what you owe. If someone takes out a lengthy loan, then they can be upside down and probably will be told to have gap coverage. Lose your $30,000 vehicle while you still owe $35,000 on it and gap insurance pays off $35,000. If you don't have gap, not only do you not have any money to buy a new vehicle, but you still owe that $5,000 difference to the bank.

My Jeep is paid off--bought it cash, in fact. So there is no loan involvement. But, this insurance guarantees to pay me 20% more than the value of my vehicle. So, if my $30,000 dollar Jeep were lost, I'd get a check for $36,000 (ignoring the $5,000 customs provision).

If you visit the USAA website, select to modify your insurance, then scroll down to "Car Replacement Assistance". You can click on a link there to get a pop-up window with USAA's explanation of this, comparing it to gap, and discussing how it works if you have both coverages.

As for documenting mods: Yep, pictures, receipts, etc. You'll be negotiating with the insurance adjuster. Fortunately, USAA is usually pretty good in their treatment of customers. In some cases, house insurance may also come into play. For example, is my $800 refrigerator a custom mod or a house appliance? How about my camera gear, if it's in the vehicle when lost? For me, that was a good reason to keep both insurances with USAA.

 

Thanks azxr and Mark.

I wish I could get home owners insurance with USAA but alas....Florida :(

 

I'm looking for this but I can't find anything online about it. I'll call USAA this week some time, i'm interested, but haven't had much luck yet.

 

On the USAA website select to change your automobile coverages, select a vehicle, then scroll down to "Car Replacement Insurance" (or something like that). I did actually receive the announcement on this a couple weeks ago (by e-mail), but it wasn't available to set up online at that time. It did appear (duh) a couple weeks later. So maybe this is a roll-out thing if you don't find it?

 

I got ahold of USAA yesterday, at this time they aren't offering it in California or Missouri. The rep said they are rolling it out state by state as a trial.