Replacement Cost Advantage®

Replacement Cost Advantage®

Get the same model as the one you bought.

A new vehicle is a big investment, so you want to be sure that you won’t lose out if you fall victim to theft or have a serious accident. With our Replacement Cost Advantage, you have that guarantee.

Here’s how the coverage works.

If your car is declared a total loss within a period of up to 5 years of the time of purchase, we’ll replace it with a new one – the same model with the same options. That means there will be no depreciation of the value of your car. Please note that the original delivery date of the vehicle and the date the policy takes effect determine the expiry date of the Replacement Cost Advantage product.

Who’s eligible?

  • You must have an auto insurance policy with one of our companies that offer the Replacement Cost Advantage and satisfy its conditions.
  • You must be a licensed driver of a private passenger vehicle.
  • Your car has to be declared a total loss due to an accident or because it was stolen, vandalized or involved in a weather-related incident such as hail or a severe storm.
  • You must be the original owner or lessee.
  • Your car has to be new or a demo.
  • The value of your vehicle must not exceed $65,000 in Quebec or $100,000 in the rest of Canada, including taxes and accessories.
  • You must reside in Alberta, Ontario, Quebec or an Atlantic province.

In case of discrepancy between the information provided on this website and your insurance policy, your insurance policy prevails. Remember, the exclusions and limitations specified in your policy apply in all circumstances.