Originally Posted by Maikerusan

Yes--I am saying exactly that. Remember though I live in Canada and policies here I would assume are quite a bit different than those in USA.

I just pulled out my policy. I pay $208 on my 2015 (all figures in Canadian $) this year for what is called 5-Year Replacement Cost Advantage/ It works on a sliding scale... in Year 1 the cost is cheaper (literally peanuts) and it goes up every year you continue the coverage.---the 2nd year more, 3 year higher etc, as the gap widens between what a new car would cost and what your old one would be worth. You can cancel any year.

Here is a cut and paste from the insurance website showing what it is and what it covers. The actual company is Primmum Insurance Company which underwrites the TD Insurance Meloche Monnex home and auto insurance program for members of employer groups and other associations throughout Canada under the trade name TD Insurance Meloche Monnex. Its program is distributed by Meloche Monnex Insurance and Financial Services in Quebec and by TD Insurance Direct Agency Inc. in the rest of Canada.

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A new vehicle is a big investment, so you want to be sure that you won’t lose out if you fall victim to theft or have a serious accident. With our Replacement Cost Advantage, you have that guarantee.Here’s how the coverage works.

If your car is declared a total loss within a period of up to 5 years of the time of purchase, we’ll replace it with a new one – the same model with the same options. That means there will be no depreciation of the value of your car. Please note that the original delivery date of the vehicle and the date the policy takes effect determine the expiry date of the Replacement Cost Advantage product.Who’s eligible?

• You must have an auto insurance policy with one of our companies that offer the Replacement Cost Advantage and satisfy its conditions.
• You must be a licensed driver of a private passenger vehicle.
• Your car has to be declared a total loss due to an accident or because it was stolen, vandalized or involved in a weather-related incident such as hail or a severe storm.
• You must be the original owner or lessee.
• Your car has to be new or a demo.
• The value of your vehicle must not exceed $65,000 in Quebec or $100,000 in the rest of Canada, including taxes and accessories.
• You must reside in Alberta, Ontario, Quebec or an Atlantic province.

Originally Posted by Kijug

I was curious on price...so I looked up KBB. I have a 2014 ES UL with all options. To be frank, I paid $50K OTD (about 5% below MSRP+TTL if I recall). At "Very Good" condition and 68K miles, KBB says between $16K - $17K now.

I plan to keep the car for 10+ years, depends on how it holds up...but I suspect it will. Nevertheless, that's the way cars go. Drive off the lot and you're already 10% down and the clock is ticking. =)

Originally Posted by Poppa

Thanks for sharing that.. I've never seen an auto policy like that where you can basically buy total replacement coverage over a 5 year time span... that's interesting to say the least. Please know I wasn't doubting your word, I was just curious as I have never seen a policy like that before..

Originally Posted by Poppa

I did the same thing with my ES.. don't recall the exact numbers but it was in the 17K to 19K range.. only I put down that mine was in excellent condition.. funny thing ( not really funny by any means ), I also ran the numbers on KBB for my 2010 Toyota 4 Runner... KBB spit back a trade in and private sale number that was better than my ES, even though my Es is 3 years newer and has 20K miles less mileage on it. Go figure.

Originally Posted by AlexNY

another funny thing:

the insurance on my 54k (msrp) mercedes was cheaper than my 43k (msrp) lexus ES. just 1 year apart, benz was 2016 and ES is 2015.

Why the hell i gotta pay $20 more monthly for my Lexus is a total mystery to me, specially on a ES. Like who the hell drives recklessly on a ES that handles like a boat?