Replacement Cost Insurance
In the event of a total loss, your policy pays the difference between the amount paid by your primary insurer and the Manufacturer Suggested Retail Price (MSRP) of a brand new replacement vehicle of the same make and model.
Do you qualify for Limited Depreciation coverage?
Model year 1 to 3 (manufacture date 2023, 2022, 2021 and 2020)
15,000 km of less
Combined Driver Factor (CDF) of 1.173 or better
Personal use
You Purchased a New Vehicle for $40,000.
| Vehicle Age | Depreciated Market Value | MSRP | Primary Coverage | Colwood Coverage |
|---|---|---|---|---|
| Year 1 | $36,000 | $41,000 | $36,000 | $5,000 |
| Year 2 | $28,900 | $42,000 | $28,900 | $13,100 |
| Year 3 | $24,565 | $43,000 | $24,454 | $18,546 |
| *Assuming depreciation rate of 15% per year | ||||
What About Your Specific Case?
Want to see how much your vehicle could depreciate over the years? Let’s calculate your coverage.
For New Vehicles
In the event of a total loss, this policy pays the difference between the amount paid by your primary insurer and the Manufacturer Suggested Retail Price (MSRP) of a brand new vehicle of the same make and model. Coverage is available for up to 5 years.
Genuine Body Parts
- 3 years coverage for vehicles purchased in 2022
- 2 years coverage for vehicles purchased in 2021
- 1 year coverage for vehicles purchased in 2020
Deductible Reimbursement
- Up to $500 for both Partial (repairable) or Total Loss claims.
- No limit on the amount of claims during the full term of the policy
Total Loss Rental Vehicle Reimbursement
- Up to $50 per day/max of $1,500 total for rental vehicle coverage in the event of a total loss