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Enhancement Benefit

Optiom Plus can include the following two bundled benefits:

Partial Loss Deductible Reimbursement Benefit: If you should have to pay a deductible on your primary auto insurance policy, Optiom Plus will reimburse you in the event of a repairable loss.

  • Up to $500 if your vehicle is repairable

Rental Vehicle Reimbursement Benefit: Should the rental coverage provided by your primary auto insurance policy end before your vehicle is repaired or replaced, Optiom Plus will reimburse the continuing rental vehicle cost until the repairs or replacement are completed.

  • Up to a maximum of $1,500 per year

Key Fob Reimbursement Benefit

If you should lose your vehicle’s KEY FOB, Optiom Prime will reimburse you the cost to replace it.

Benefit Limits:

  • Up to $500 if your vehicle’s keys are lost or stolen
  • One-time benefit request

Premium Increase Benefit

If you should suffer an at-fault accident, and your primary auto insurance premium increases, Optiom Prime will pay for this increase for one year.

Benefit Limits:

  • Up to 100% of existing insurance premium for your primary auto insurance as it was immediately prior to the accident, up to a limit of $2,500 for the premium increase incurred for one year at point of renewal
  • One-time benefit request

Car Seat Reimbursement Benefit

If your child’s car seat should be in your vehicle in the event of an accident, Optiom Prime will reimburse you the cost to replace it.

Benefit Limits:

  • Up to $500 for one car seat of similar make/model

Partial Loss OEM Benefit (New Vehicles)

For an additional premium, if your vehicle can be repaired and accident damages are covered by your primary auto insurance policy, Optiom Prime will pay for specified new O.E.M. genuine replacement parts.

Benefit Limits:

  • Up to $10,000 per year in parts & up to $1,000 per year in labour
  • Up to 60 months coverage

Vehicle Value Appreciation Benefit (Used Vehicles)

For an additional premium, Optiom Prime will escalate your vehicle’s value by 5% per year in the event of a total loss.

Benefit Limits:

  • Subject to the Total Loss Benefit limits for Used Vehicles

Diminished Vehicle Value Benefit

If you should suffer a no-fault accident, Optiom Prime will pay a fixed amount if repairs exceed more than 25% of the declared value of the vehicle at the time of the accident.

Benefit Limits:

  • One-time benefit request
  • Vehicle’s value at policy inception determines fixed payout amount:
Guaranteed payout - Vehicle Value

Bridge Negative Equity

If the trade-in value is less than what you currently owe on the vehicle, Optiom Plus will bridge the gap so that your negative equity obligations are covered.

  • Up to 30% of MSRP of your new vehicle