Vehicle Replacement Cost
Why is replacement cost coverage important?
Vehicle depreciation affects new and used cars alike. In the event of a claim, your regular insurance only pays what the car is worth now, not what you paid for it. That difference can leave you thousands of dollars short. MODE Vehicle Replacement Cost covers that gap.
Product highlights
With New Vehicle Replacement, we pay the difference between what your underlying insurer pays, and what a new vehicle of similar make and model would cost (MSRP Guaranteed).
With Used Vehicle Plus, for vehicles up to 10 years old, we pay the difference between the amount paid by your primary insurer and the original purchase price* of the vehicle, plus 5% per year, up to the date of loss.
Coverage renewable up to seven years
Full replacement coverage
Windshield rock chips
Door dings
Minor fender benders
Rental car costs during repairs
Genuine body parts
Deductible reimbursement
* Or Canadian Black Book value if used to value your vehicle at time of policy issuance.
About MODE Insurance Services
MODE Insurance Services is dedicated to making vehicle protection simple, convenient and affordable for drivers. Specializing in vehicle replacement coverage, MODE focuses on getting you back on the road quickly and with minimal hassle.