The Product
New Vehicle
With a New Vehicle policy the underlying insurer will pay you the depreciated value for your vehicle. Your Motomaxx policy will pay you the difference between that depreciated value and the purchase price of the newest year/make/model (or similar make and model). A qualifying vehicle for a New Vehicle policy is a described vehicle that is of the current or preceding model year and less than 25,000 km.
Used Vehicle
The underlying insurer will pay you the depreciated value for your vehicle. Your Motomaxx policy will pay you the difference between that depreciated value and the purchase price. A Used Vehicle policy adds 5% appreciation to the purchase price per year, for each year you have owned the insured vehicle. A qualifying vehicle for a Used Vehicle policy is a described vehicle within 10 model years and 25,001 km's or more.
Additional Coverage’s
Motomaxx limits you from financial loss. Whether you’re financing, leasing, or outright own your vehicle - you’ll be at peace knowing your investment is fully covered. You’ll receive additional benefits within your term. Some of the key benefits are →
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Original Manufactured Parts. A New vehicle policy will include this benefit for 3-model years!
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Total loss and partial loss reimbursements, with no limit in frequency in claims!
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If you’re deprived of your vehicle for more than 3 days, we pay up to $100/day to a maximum of $1000!
Deductible Reimbursments
Motomaxx offers UNLIMITED deductible reimbursements. Therefore, in the event of a total loss, up to $500 of your deductible will be covered. And, in the event of a partial loss (ex. windshield, fender bender, etc.), up to $500 of your deductible will be covered. With no limit in frequency of claims!
O.E.M. Parts
A New Vehicle policy covers you for OEM (Original Equipment from Manufacture) Parts. Meaning, if you have a partial loss claim in the first 3 years, the only parts that can be used are brand new parts - no aftermarket pieces.
Extended Rental Coverage
In the event of Total Loss or Partial Loss during which the Insured is deprived of their vehicle for more than 3 days, the Insurer will pay up to the amount of $100/day for a maximum of $1000. Insured is required to have underlying rental vehicle coverage for this coverage to apply.
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