This can happen when a waiver of depreciation endorsement (i.e.,OPCF 43 or 43r) is attached to the insurer’s policy. When applied, it will result in a total loss claim, meaning the insurance company will either replace the vehicle with a newer model or repay the MSRP value of the vehicle. Coverage is granted for a period of time designated by the insurance company.
For more information, see:
- Total loss
- Why does the estimate show "total loss," but the vehicle was neither branded as "salvage" or "rebuilt"?
Before you buy a used car, we recommend that you get a CARFAX Canada Vehicle History Report, take a thorough test drive and have the vehicle inspected by a qualified mechanic or auto technician to make sure the vehicle is functioning properly.
We also recommend speaking with your provincial vehicle registration authority to further ensure the vehicle can be registered with, and operated in, your province.