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At Collings Insurance Brokers, we’re always looking for ways to give our clients more peace of mind behind the wheel. That’s why we’re excited to introduce Optiom Vehicle Replacement Insurance — a versatile product that helps you protect your investment if your vehicle is written off after a collision, theft, or other major loss.
What Is Vehicle Replacement Insurance?
In today’s market, vehicles lose value quickly — leaving drivers with a gap between what their insurance pays and what it actually costs to replace their car. Optiom bridges that gap by providing replacement cost protection, helping you get back into a new or comparable vehicle without worrying about depreciation.
Who Can Qualify?
Here’s the best part: even if your vehicle doesn’t qualify for an OPCF 43 (new vehicle replacement) with your main insurer, you may still qualify for Optiom. Plus, coverage is available for a wide range of vehicles, including:
- Commercial vehicles
- Recreational vehicles (RVs)
- Personal vehicles
- Used vehicles
This flexibility makes Optiom a great option for nearly any driver looking to protect their investment.
How It Works
If your vehicle is written off:
- Your auto insurer pays the actual cash value (the depreciated value) of the vehicle.
- Optiom then tops up the difference — covering the cost of a new vehicle or the difference between what your car was worth and what you still owe on your loan or lease.
It’s an extra layer of protection that can make a big difference financially, especially for newer vehicles, vehicles on financing plans, or vehicles that wouldn’t normally qualify for full replacement coverage.
Why Consider It?
- Covers depreciation – protects the value of your investment.
- Reduces financial stress after an accident or theft.
- Works alongside your existing auto insurance policy.
- Available for a wide range of vehicles — commercial, recreational, personal, and even used.
Is It Right for You?
If you’ve recently purchased a new or used vehicle, financed or leased your car, or simply want to protect the value of your investment, Optiom coverage is worth considering. Our brokers can walk you through the options and help you decide if it’s the right fit for your situation.
Talk to Us
We’re happy to answer any questions and provide a personalized quote.
Give us a call or stop by our office to learn more about how Optiom can give you added peace of mind on the road.
