It is said a new vehicle purchase loses value the minute you drive it off the dealer’s lot. That depreciation can be depressing.
By purchasing SGI CANADA’s replacement or repair cost coverage you’ll preserve the value of your new pride and joy and protect yourself against depreciation and rising repair costs in its first 3 years.
But act fast! You must purchase it within 120 days of your new vehicle’s delivery date.
How does it work?
If your vehicle is a total loss - in the first 24 months, your deductible is waived and you can replace your vehicle, right down to the make and model, no matter the cost. In the last 12 months, you are covered for the original purchase price, plus inflation.
If your vehicle is repairable - only new parts will be used - not salvaged or second-hand parts.
If your vehicle gets a dent - if it’s small and can be fixed with paintless dent repair (PDR), you’re covered for amounts under $150 for policies with a $100 or $200 deductible. You won’t have to pay the policy deductible.
If you bought accessories - You can fix or replace them, too, as long as they were purchased in the first 120 days after your delivery date.
If your vehicle is leased - your original purchase price is protected, covering the difference between what you owe your leasing company and the actual cash value of the vehicle.
Note: It is recommended that you keep your original bill of sale in a safe place as it will be helpful if you make a claim.
First and second year (24 months)
Your replacement or repair cost option applies to collisions and all losses covered by your Auto Pak policy.
You’re protected for the same types of losses as in the first 24 months, except for fire, theft, water, vandalism and malicious mischief.
Bill of sale
Your bill of sale is where you’ll find your delivery date for determining when your 120 day window to purchase replacement or repair cost coverage begins.
The purchase price is found on your bill of sale.
Purchase price includes the cost of all protection packages, additional equipment and accessories, freight, security or theft transfers and tracking devices, as well as all documentation and administration fees.