An unexpected auto accident or auto theft can be hard enough to deal with without having to worry about how it will impact your insurance or financial situation. If you owe $20,000 after an unexpect accident, your insurance may not cover all of your costs. If your insurance will only payout $12,000, there is a significant amount of money that you need to pay out of pocket. This difference is known as "the gap" and can represent thousands of dollars. Our coverage eliminates this shortfall.
Our Protection Plan:
Our plan will help take the stress out of an expected accident.
Could save you up to $50,000
Avoids many out of pocket expenses related to total loss
Reduces the cost of replacing your vehicle
Doesn't my insurance cover this?
No. Your primary insurer's obligation is for the actual cash value of your vehicle only: what a similar car is woth the day before yours became a total loss. You are responsible for the difference of the loan balance including leftover debt from the previous vehicle you may have traded, taxes, accessories and additional products or services ou may have included in your finance or lease arrangement such as a Service Contract of Debt Protection.
Every two minutes a theft or serious accident in Canada affecting one out of every ten vehicles annually
- Statistics Canada, Canadian Motor Vehicle Traffic Commission, 2010
Total Loss Protection Covers the Shortfall