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Replacement insurance


The 1st October 2010, the replacement guarantee, sold by dealerships and brokers, was replaced by replacement insurance. Endorsement 43E – Change to loss payment – is still in effect. If you desire replacement cost coverage for your vehicle, you can choose either of these two products.

Both products have a number of similarities:

  • They complete your automobile insurance policy. Without the initial policy you cannot get replacement insurance or Endorsement 43.
  • They are both insurance products offered by insurance companies.
  • They pay out an indemnity without depreciation in the event of loss (total or partial).

Both products also have their differences:

QPF # 5 – Replacement insurance Endorsement 43E
Change to loss payment
Determined duration for up to 7 years without renewal. Without underwriting rules and renewal conditions. While duration is defined (1 to 6 years) it renews yearly at the same time as the policy subject to several conditions.
Attached to any primary insurer. Attached to the same primary insurer.
Offered for new and used vehicles. Offered for new vehicles.
Persons at risk are admissible. Persons at risk are not admissible.
Vehicles at risk are admissible. Vehicles at risk are not admissible.
Offered by brokers and dealers. Offered by insurers or brokers.


Partial losses Partial losses
Non repairable damaged parts are replaced with new original parts. Damages parts are replaced by new but not necessarily original parts. Take note that if the parts are not available, the insurer will deduct depreciation on the parts.


Total Loss (or theft) New Vehicle Total Loss (or theft) New Vehicle
Obligation to replace the vehicle according to the selected chosen option when the policy was purchased: Choice to be made at the time of the loss:
a) Replace the vehicle with a new one of equal or superior value through the named dealer; or a) Replace the vehicle with a new or a used one of equal, inferior, or superior value (at the dealer of your choice); or
b) Receive and indemnity and replace at the dealer of your choice.*The value will be calculated on the calendar year model.Note: If you replace the vehicle with a superior value, you will have to disburse the difference. b) Do not replace the vehicle (Cash settlement. The value will be negotiated by the insurer.)* Previous year if available and calendar year if not available.Note: If you replace the vehicle with a superior value, you will have to disburse the difference.


Following a claim Following a claim
The policy ends in the case of total loss only. The insurer reimburses you the unearned premium on a prorata basis. This policyis not transferable to anothervehicle. The policy does not end automatically. The new vehicle could be covered by the same policy. But at renewal, may not be available according to the conditions.


Deductible Deductible
No deductible to pay.Reimburse the deductible up to $2,500 for a total loss.Reimburse the deductible up to $250 for a partial loss. Deductible to be disbursed as per the amount chosen on your policy.
Allowance for a courtesy vehicle $$2,250.
Classes 33-35-36 admissible. Not admissible.
Cancellation on a prorata basis. Cancellation on a short-rate basis.
*Average cost with QPF#5 with a broker : $928.00
*Average cost with dealership: $1,555.00
*Source: L’AMF and Journal de l’assurance


You would like to get a quote for a replacement insurance or any other vehicle? Don’t wait any longer, talk to an Assurancia broker near you.

As well, our Claims specialist certification guarantees constant, regular follow-ups after a claim, and helps speed up the process to resolve the case.

This certification is exclusive to Assurancia brokers!


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