The following coverages may help protect you financially and get you on the road again should your new car be totaled or need major repair.

New car replacement coverage.

This coverage may help pay to replace a new car that's totaled. With this coverage, your policy may allow you to replace the totaled vehicle with a new one of the same make, model and equipment, or it may specify whether a similar model or certain dollar amount would be available.

Repair provision coverage.

Some policies may also cover the cost of repairs should there be only a partial loss to your new vehicle, regardless of its actual cash value. Repair provision coverage may help pay for repairs to a damaged vehicle on a replacement cost basis without deducting the depreciation in its value. Remember, however, that coverage limits still apply.

Loan or lease gap coverage.

Gap insurance may help pay the difference between the amount owed on an auto loan or lease and the totaled car's actual cash value. Even if your car can no longer be used, you're still responsible for any remaining loan or lease payments. So if the reimbursement check from the insurance company is not enough to cover what you owe, gap coverage may help pay for the remaining amount on a loan or lease — so you won't be stuck paying for a car that is now in the scrap yard.

Driving a brand new car can be a lot of fun, but having to replace one might come with some unexpected expenses — especially since the average cost of a new vehicle is more than $47,000. If you have a new car, you may want to consider new car replacement coverage, repair provision coverage and gap coverage, or a package that includes these coverages.