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
Cost to purchase a brand new vehicle of the same make and model has gone up to $43,000 by year 3. Your Colwood policy will pay you the difference $18,546.

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

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