About us
Coverage Details
Your coverage
In the event of a total loss1, 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 loss1, 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 can depreciate from the moment you drive them off the lot. VRI covers the lost value.
Protect your new vehicle purchase
Typical auto insurance policies2 don't cover depreciation loss
In the event your vehicle is totaled, a standard auto insurance policy may cover the vehicle’s current market value leaving you to pay for the difference.
Even if your vehicle is paid off, you’re still at a loss regarding any depreciation costs. VRI eliminates those potential financial losses and replaces, subject to the terms of your policy, your totaled vehicle with a new vehicle of the same make and model, subject to availability.
QBE Vehicle Replacement Insurance benefits will be paid in the form of a voucher redeemable for a new vehicle of the same make and model, subject to availability.
- 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.