What We Offer
Vehicle Protection Solutions
BC Vehicle Replacement Cost Insurance — protection for qualifying new and pre-owned vehicles.
BC Vehicle Replacement Cost Insurance
Carmaxx is designed to help bridge the eligible gap between your primary insurance settlement and the cost of replacing your vehicle following a covered total loss. When a claim is settled at current market value, Carmaxx can help cover the eligible difference toward a qualifying replacement vehicle.
Traditional insurance typically settles claims at current market value, which may be less than the cost to replace your vehicle.
How Carmaxx Works
If your vehicle is declared a total loss, here is what happens:
Primary insurer pays market value
Your primary insurer settles the claim based on the current market value of your vehicle at the time of the loss.
A financial gap appears
Vehicles depreciate over time, which means the insurance settlement may be less than the cost to replace your vehicle with a comparable one.
Carmaxx covers the difference
Carmaxx helps cover the eligible difference, allowing you to move forward with confidence without facing an unexpected financial shortfall.
Coverage Options
Carmaxx offers protection options for both new and used vehicles, each designed to help reduce the financial gap after a covered total loss.
New Vehicle Replacement
Helps cover the eligible difference between your primary insurer's settlement and the cost of a qualifying new replacement vehicle after a covered total loss.
- OEM Parts Coverage
- Deductible Reimbursement
- Rental Reimbursement
- Key Fob Reimbursement
Used Vehicle / Limited Depreciation
Helps cover the eligible difference between your primary insurer's settlement and the lesser applicable value of a qualifying used replacement vehicle after a covered total loss.
- OEM Parts Coverage
- Deductible Reimbursement
- Rental Reimbursement
- Key Fob Reimbursement
What You're Protected From
- Depreciation gaps after a total loss
- Rising vehicle replacement costs
- Out-of-pocket expenses when upgrading or replacing
Included Benefits
- Deductible Reimbursement — Up to $500 per claim
- Rental Coverage — Up to $50/day (max $2,500/year)
- Key Fob Replacement — Up to $500 (including programming)
- OEM Parts Coverage — Up to $7,500 total (on newer vehicles)
Two Quick Examples
Illustrative numbers only. Actual claim amounts depend on the policy wording and your primary insurer's settlement.
A qualifying new vehicle was purchased for $40,000. After a covered total loss, the primary insurer settles at $31,000 and a comparable new replacement vehicle now costs $42,000.
Primary insurer settlement
$31,000
Replacement vehicle
$42,000
Eligible difference
$11,000
A qualifying used vehicle was purchased for $20,000. After a covered total loss, the primary insurer settles at $14,000 and the lesser applicable value under Carmaxx is $20,000.
Primary insurer settlement
$14,000
Lesser applicable value
$20,000
Eligible difference
$6,000
Underwritten by Peace Hills General Insurance Company, a Canadian A-rated insurer by AM Best, headquartered in Edmonton, Alberta, Canada.
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