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Did you purchase the crash replacement policy with the car?

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Discussion Starter #1
I was signing for a Mazda3 Sport GT today and couldn't decide if I should take the Total Loss protection from the insurance company or from Mazda directly. Both offer it coverage for 4 years. I would like to know if you took it or not. Is it really worth the 895$ for 4 years of protection?
 

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I just bought the Gap coverage from my credit union wher eI got the loan, it was a one time $164 payment.
 

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I didn't purchase the crash replacement policy from the dealership. But I did purchase a delux package from my insurance company in which they will cover up the depreciation cost for the first two year (in case the car is being "total-lost" in an accident). And I only had to pay an extra $60 per year.
 

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Discussion Starter #5
I apologize for not explaining. Let me explain.

Here in Montreal, or perhaps in the whole province of Quebec, there's a protection offered from both the dealer and insurance companies. What it covers is the replacement of the vehicle when it is totaled or when it will cost too much to repair the vehicle compared to replacing the vehicle with a new one. Mazda offers it for 895$ for 4 years of coverage. Hope that clears it up.

I am unsure if I should take it or not. As I took it with my current car and I never even had an accident with it. But then again, what if it happens, what then?
 

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Discussion Starter #7
My insurance company has a weird system for calculating the cost. 10% of your insurance premium for the 1st year, 20% for the 2nd, 30% for the 3rd... Comes out to be more expensive than Mazda's, but the insurance one, you can cancel anytime. After thinking about it, I am not sure if it is worth it to get it with Mazda for close to 1000$ more in the price of the car.
 

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Quebec's insurance is VERY different from Ontario's - don't know how though, but they pay almost nothing compares to us.
 

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I bought additional crash replacement coverage for the first 3 years at a price of under 400 CAD

I consider it not a bad deal since it also covers theft and all other reasons that could make your baby 'dissapear'
 

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I had to make the same choice when I signed for my MZ3; Total loss policy from my insurance company or the dealer?

The dealer was very persuasive, and tried its best to discredit the insurance company's offer. My insurance company did the same with the dealer proposition. Both actually lied to me on the other company's offer.

Basically, here it goes : taking the insurance from your dealer (not Mazda, your Mazda dealer... very different!) might cost a bit less, but you're stuck with your dealer in the future (so choose it real well). You won't be able to buy anything else than a Mazda with this program, also. it's worth mentioning that you'll have to deal with two companies instead of one if your car gets it.

I surveyed about 15 friends of mine who purchased cars recently, and they all chose the insurer's protection. I went the same way.

TD Meloche Monnex (my insurer) gave me total loss insurance for free for the first year; next year, I should pay about 10% of my insurance fee to keep TLI on year 2, 20% for the third year, and so on.
 

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I use Monnex also (regular insurance), but got the crash insurance by the dealer. It cost 915.$ for 5 years, transferable. It's a couple hundred less, and its transferable.
 

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dinu01 said:
Did you get it from your ins. co. or from Mazda?
I got it through the insurance company. My dealership didn't even mention it to me.

Now that I know, it's kinda weird. :?:
 

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Discussion Starter #14
I've taken this insurance with my protege and never even used it. But then again... there's always the "what if". The benefit from the coverage of Mazda's insurance is that they will cover the 500$ deductible from your insurance in an accident. They will also cover the 250$ deductible for theft/fire/vandalism from insurance. So... in a sense, it is an extension of your current insurance. However, for the 4 years I've had my protege, I never had an accident, not even a scratch. I just find that it's a waste of money. I'd rather spend that 1000$ on something else. I mean, how often do you get into a total loss accident to warrant the insurance? From all the years my dad's been driving, he's been in a handful of accidents and never was it a total loss.
 
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