Topic: Insurance Depreciation Question

[Wetson]

I just got my insurance renewal and for all you insurance people out there I have a question.  In the listing there is a code that says OPCF 43 that says Removing Depreciation Deduction (2 year plan) and a charge associated with it of $44.  What does this mean?  I know it has something to do with replacement value but am not certain.  Your input is much appreciated.  Thanks in advance.

[Driver]

If I'm not mistaken this refers to waiver of depreciation normally thrown-in for brand new vehicles.  If your ride gets totalled or stolen within 2 years and you're covered with this, then you'll get full invoice value paid to your claim

[Drivesideways]

[sarcasm on] If I'm not mistaken, there is probably a phone number somewhere on the form or accompanying documentation.  Try this number, as they may be able to answer your insurance-related questions in a timely manner.[sarcasm off]

Just trying to be helpful. 

[AVToller]

I am certain that Driver is correct.  In BC, the value is "replacement value". For example, if I had gotten a 2005 EH and it was totalled, I would be given the cost of the equivalent Yaris. 

[Craig]

Driver is indeed correct.  That little clause netted us full value on the stolen Matrix.  If it were a couple months older, we would have received market value - probably about $5000 less.

On any new vehicle, make sure you have OPCF 43, and see if you can get it for 30 months or more, rather than the standard 24 months.  Our car was stolen at 26 months, but we had 30 months of coverage.

[Wetson]

[sarcasm on] If I'm not mistaken, there is probably a phone number somewhere on the form or accompanying documentation.  Try this number, as they may be able to answer your insurance-related questions in a timely manner.[sarcasm off]

Just trying to be helpful. 

Brat!!!! 

[safristi]

...PITTS...? ....CAN'T WE JUST BE FIENDS!!!!!!!!