If you take advantage of a good end-of-the-year deal on a new vehicle, be sure to report it to your insurance company right away, and don’t forget to ask them for a quote for Debt Payoff Coverage. This coverage will pay off the outstanding loan balance if your vehicle is destroyed in a covered claim and its current market value is less than your outstanding loan. Your agent and insurer can answer your questions and provide more detail on how the coverage works.
Learn more about auto insurance in Washington state.
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