Help protect your vehicle against depreciation.
Did you know that Limited Waiver of Depreciation allows you to receive the purchase price of your vehicle1 the day it was purchased, if your vehicle is stolen or deemed a total loss?2
Limited Waiver of Depreciation is also known as Removing Depreciation Deduction in Ontario. If you opt for Limited Waiver of Depreciation, you'll be covered for up to 36 months from the original delivery date of your vehicle. This optional coverage can be added to cars, motorhomes and motorcycles, subject to eligibility. Coverage applies on a per vehicle basis. Are you eligible for Limited Waiver of Depreciation?
Are you eligible for Limited Waiver of Depreciation?
- Do you have a vehicle insurance policy with us, and do you satisfy its conditions? policy with us and satisfy its conditions.
- Does your vehicle insurance policy have an effective date of June 10, 2021 or after?
- Are you the original owner of the vehicle or the first owner of a showroom demo vehicle?
- Does your vehicle carry a combination of Collision/Upset, Comprehensive/Specified Perils or All Perils coverages?
If you've answered 'yes' to the questions above, you may be eligible for Limited Waiver of Depreciation.
What if your vehicle insurance policy has an effective date that's before June 10, 2021?
- If your coverage with us came into effect before June 10, 2021, you may not be eligible for Limited Waiver of Depreciation.
- If that is the case, our Replacement Cost coverage may be of interest to you.