Quote:
Originally Posted by FCRMonty
Crazy - if I total my car in the first 4 years of ownership, my insurer will pay the lowest of: 1) the actual purchase price; 2) manufacturer’s suggested retail price at the time of purchase; or 3) the cost of replacing my car with a new car of the same make or model (also includes taxes). Pretty standard coverage in Ontario.
|
Interesting. Do you have a choice for this type of coverage? Not sure why someone would want to pay for insurance above the value of the item being insured? Especially for a low risk (total loss) event.