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Car Replacement Insurance

Optiom offers a comprehensive vehicle replacement protection plan that turbocharges your car insurance. As your vehicle ages, its value depreciates, which is something traditional insurance policies rely on. In the unfortunate event that your vehicle is written off, your primary insurer typically only covers the current market value, not the original purchase price. This can leave you with a financial gap, especially if you still owe money on a loan or lease. Whether you have a new or used vehicle, Optiom ensures you receive superior total loss coverage. New vehicles can be covered for up to 7 years, while used vehicles are eligible for up to 5 years of coverage. This plan also helps with any outstanding loan or lease obligations if your vehicle is deemed a total loss by your primary insurer.

Optiom provides a range of enhanced benefits, including:

  • Total Loss Deductible Reimbursement
  • Partial Loss Original Equipment Manufacturer Benefit
  • Vehicle Value Appreciation Benefit
  • Partial Loss Deductible Reimbursement
  • Key FOB Reimbursement up to $500 maximum payout
  • Extended Rental Vehicle Reimbursement
  • Diminished Vehicle Value Benefit

Every qualified driver, regardless of age, driving history, or newcomer status in Canada, is eligible for coverage. Optiom not only fills the gaps left by your primary insurance but also offers peace of mind and immediate relief in stressful situations.

ONE Insurance advisors are ready to assist you in securing this valuable car replacement option for your vehicle. Contact us today for specific details on each product and to ensure your vehicle is fully protected.

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