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New and used vehicles covered

Optiom Prime provides comprehensive vehicle replacement protection whether you purchase or lease a new or used vehicle.

It also contributes towards your loan/lease obligations in the event your vehicle is a total loss and is written off by your primary auto insurer.

New Vehicles

New Vehicle Total Loss Benefit

Optiom Prime will pay the difference between the market value of your vehicle at the time of the loss and the MSRP of a brand new, equivalent model replacement vehicle.

  • Up to $80,000 over your primary insurer’s policy
  • Up to 84 months of price protection

If you have to pay a deductible on your primary auto insurance policy, Optiom Prime will reimburse you up to $500 if your car is written off.

Loss Benefit Diagram

Vehicle replacement example assuming 7 years of coverage is maintained

*Total loss benefit first contributes to any outstanding amount owing on the vehicle’s loan/lease.

Used Vehicles

Used Vehicle Benefit/Coverage

Optiom Prime will pay the difference between the market value of your vehicle at the time of the loss and your vehicle’s value at policy inception.

  • Up to $60,000 over your primary insurer’s policy
  • Up to 60 months of price protection

If you have to pay a deductible on your primary auto insurance policy, Optiom Prime will reimburse you up to $500 if your car is written off.

Loss Benefit Diagram

Vehicle replacement example assuming 5 years of coverage is maintained

*Total loss benefit first contributes to any outstanding amount owing on the vehicle’s loan/lease.