Gap Insurance Ontario
If you currently have auto insurance with collision and comprehensive insurance – you qualify for Optiom.
Excalibur Insurance is one of the few select brokers in Ontario that offers you protection against depreciation if your vehicle is written off in an accident.
If you buy a new vehicle and it’s written off in an insurance claim – you get reimbursed for that amount you paid for up to 7 years. If you buy a used vehicle that’s less than ten years old, get reimbursed for the market value at the time you purchased for up to 5 yrs.
New Cars
Up to 7 years of replacement cost coverage available.
Used Cars
Up to 5 years of replacement cost coverage available
Premiums
No increase in premium throughout the term of your policy.
Deductible
Pays your deductible for any claim on your primary auto policy.
Key Fobs
Offers lost or damaged FOB replacement for up to $500
Cost
Coverage for the average vehicle is approximately $25/month
Protect Your Family Budget.
Example : You purchase a used 2018 Dodge Grand Caravan for $18,000 (market value)
5 years later it gets written of in an accident – and it’s worth only $7,500.
You get reimbursed $18,000*
* The Optiom Program requires comprehensive & collision coverage on your primary auto insurance policy.
Example : You purchase a new 2021 Kia Telluride for $52,000 (market value)
7 years later it gets written of in an accident – and it’s worth only $16,500.
You get reimbursed $52,000*
* The Optiom Program requires comprehensive & collision coverage on your primary auto insurance policy.
Example : You purchase a new 2021 Kia Telluride for $52,000 (market value)
7 years later it gets written of in an accident – and it’s worth only $16,500.
You get reimbursed $52,000*
* The Optiom Program requires comprehensive & collision coverage on your primary auto insurance policy.
New Vehicle
Total Loss Benefit
Optiom PrimeTM pays the difference between the market value of your vehicle at the time of the loss and the MSRP of a brand new, equivalent model replacement vehicle.
Used Vehicle
Total Loss Benefit
Optiom PrimeTM pays the difference between the depreciated market value of your vehicle at the time of loss – and the market value of your vehicle when you signed up for Optiom coverage.
New Vehicle
Total Loss Benefit
Optiom PrimeTM pays the difference between the market value of your vehicle at the time of the loss and the MSRP of a brand new, equivalent model replacement vehicle.
Used Vehicle
Total Loss Benefit
Optiom PrimeTM pays the difference between the depreciated market value of your vehicle at the time of loss – and the market value of your vehicle when you signed up for Optiom coverage.
