New Car Replacement Insurance


Options for a cash settlement or no requirement to replace the exact same vehicle

Save up to $500 not paying dealer fees! 

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What Is New Vehicle Replacement Insurance?

If you only have collision/comprehensive insurance your primary insurance settlement will be for the depreciated/actual cash value of your vehicle, not the replacement cost.

If you purchased a Vehicle Replacement Insurance policy you would receive the additional funds needed to buy a brand new similar model vehicle or a cash settlement — up to a $60,000 benefit! Vehicles registered in British Columbia and Alberta that are up to 5 model years old are eligible for replacement cost.

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Why Buy Vehicle Replacement Cost Insurance?

Vehicle Replacement Insurance

New Vehicle Protection Provides:

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Total Loss Protection

Up to $60,000 in loss protection. Coverage for vehicles up to $150,000 MSRP

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Deductible Reimbursement

Deductible reimbursement up to $500

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Flexible Terms

Choose the coverage term to fit your needs. Brand new vehicles qualify for 7 years

Payment Plans

Finance your policy monthly through your credit card or bank account

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Optional Benefits

OEM Parts Coverage
Rental Vehicle Reimbursement
Key Fob Replacement Coverage
Partial Loss deductible reimbursement
Diminished Value coverage

With Vehicle Replacement Insurance, you are back into a brand new equivalent model vehicle — up to a $60,000 benefit!

New Car Protection Insurance is worth it to have on your car, truck, or SUV as it protects you from unexpected financial hardship. The average vehicle depreciates 10-15% per year and a write-off could mean that the difference comes out of your own pocket. Your vehicle settlement will never depreciate for up to 7 years and policies have cash settlement options and no requirement to replace options.

We discussed replacement insurance with CTV News 

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Customer satisfaction is Obvi’s top priority, so we’ll always be there to help when and how you need us. We’re happy to provide hands-on assistance every step of the way, using whichever communications method above is most convenient for you.

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