This is similar to your auto insurance when you total a vehicle that is older, you will not be provided with similar but brand new vehicle, you will be paid the value of the insured vehicle, not the value of a similar new vehicle.
Most insurance companies have been offering coverage to replace a car completely with a new car - as an example
Allstate offers New Car Replacement as an additional option with its Your Choice Auto® insurance plan.. Like so many companies it's what you are willing to pay for and the insurance companies are happy to accept the $$ if you want the additional coverage.
