.07 Replacement of Motor Vehicle.

If an insurer elects to replace a motor vehicle pursuant to Regulation .03B(2) of this chapter and the insurance policy provides authority for the replacement as an acceptable method of settlement, the insurer shall provide the claimant with a motor vehicle that is:

A. A substantially similar motor vehicle;

B. Immediately available; and

C. Subject to any deductible, paid for by the insurer.