Limited Waiver of Depreciation Compared with Replacement Cost Endorsement
Intact insurance offers an alternative for the common Limited Waiver of Depreciation endorsement (SEF 43) called Replacement Cost Endorsement (SEF 18). These endorsements that can be added to the auto policy of new vehicles to help you recover the new price of your vehicle rather than it's current value.
Replacement Cost is a broader alternative that includes an extended period of up to 60 months from the purchase date of your new vehicle. Compare below:
| Limited Waiver of Depreciation (SEF 43) |
Replacement Cost Endorsement (SEF 18) |
| Available for first 30 months from purchase date | Available for first 60 months from purchase date |
| Provides replacement cost coverage | Replaces a new vehicle of similar make and model |
| Must be the original owner/lessee, and purchased within 3 months of purchase date | Must be the original owner/lessee |
| Demo vehicles qualify if less than 5,000 km | Demo vehicles qualify if less than 5,000 km |
| Personal and business use only for private passenger vehicles | Personal and business use only for private passenger vehicles |
| Available on certain recreational vehicles | Not available on recreational vehicles |
| Not available to vehicles with high annual mileage | Available to vehicles with less than 40,000 km annually |
| No unrepaired damage | No unrepaired damage |
If you would like to explore the option of adding the replacement cost endorsement to your policy, please give us a call at 1-855-475-0959.
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