Replacement Warranty

With Companion Replacement Warranty, you’re in the driver’s seat. You can lock in comprehensive coverage for up to 7 years with no annual renewals, no annual increases and no chance of cancellation due to driving experience or losses.

* Available in Ontario and the Atlantic Provinces Only

Program Benefits

  • Your new vehicle is replaced with a current model in the event of Total Loss due to theft, fire or accidental damage. For example, if your 2006 vehicle is stolen and declared a total loss, we are going to provide you with a current vehicle similarly equipped.
  • For pre-owned vehicles you get the advantage of a replacement credit that is adjusted annually for inflation.  For example, if you have a 3 year old vehicle and it’s declared a loss 3 years later, you’ll receive a credit towards a 3 year old vehicle NOT a 6 year old vehicle.
  • Lock in your rate for up to 7 years.
  • Rental vehicle coverage that picks up where your primary insurer leaves off.
  • The transfer option in the first 3 years is a great re-sale feature.
  • Deductible coverage up to $500 for a Total Loss and $250 for a Partial Loss mitigates the financial impact from an accident, fire or theft.
  • Upgrade to original parts coverage.

Coverage is available on...

  • Vehicles with a purchase price of up to $125,000
  • Convertibles, sport-utility vehicles, diesel engines
  • New and pre-owned vehicles with no mileage restrictions 
  • Small trucks with a cargo load up to one ton

Statistics show…

■ Traffic Collisions cost Canada $62.7 billion each year.1
■ Vehicle theft accounts for 13.5% of all property crime in Canada.2
■ The rate of cars stolen in Canada is among the highest in the world. According to Statistics Canada a car is stolen every 3 minutes.3
■ Each year, automobile theft costs Canadians close to $1 billion, including $542 million for insurers to fix or replace stolen cars.4

* This product is available in Ontario and the Atlantic Provinces only. Terms and conditions apply. Please visit your local dealership to inquire about the Companion Replacement Warranty program.

1 Transport Canada 2009 
2 Insurance Bureau of Canada Facts Book 2009
3 Statistics Canada 
4 Insurance Bureau of Canada 2012