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Compare ratesWaiver of Depreciation. The Ontario endorsement that pays the original purchase price (or replaces with a comparable new vehicle) in the event of a total loss, instead of depreciated actual cash value. Typically available only on new vehicles within their first 24–30 months of ownership.
The plain-English definition above is the short version. We add expanded guides — examples, regulatory context, common pitfalls, and related coverages — as we go. If this term is on your mind, tell us and we’ll prioritize it.
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