UPDATE on Total Replacement Insuranace.
I just received the Notice of Changes from Progressive on my policy renewal that is one year old:
Damage to a Vehicle
We Clarified that with Total Loss Replacement/Purchase Price Coverage, when you replace the covered vehicle, our limit of liability shall be the cost not to exceed 120% of the purchase price. This change represents a reduction in coverage.
It looks like Progressive is no longer covering all of the increased costs and demand increases caused by the Pandemic. Those of us that purchased pre-pandemic now have a cap on our replacement cost that may not give us full replacement. Look at policy renewals closely and weigh the cost of coverage.
Chuck in SW FL
Digital 2021 Cornerstone "B"
A "Digital" 2019 Cornerstone "B" Traded
A "Classic" 2014 Anthem 42 RBQ---Sold