Who Needs Replacement Vehicle Insurance?

If you drive a car or a truck, you probably need Replacement Vehicle Insurance. Most owners in Canada don’t realise that their primary insurance does not cover the total value of their vehicle in the event of a total loss. That can mean you still owe money on a loan or a lease, or don’t have enough equity left to buy a similar replacement vehicle. You could lose your car and most of the money you invested in it.