A depreciation waiver is an optional endorsement that means your car insurance policy will offer replacement value if your NEW car is stolen or damaged beyond repair in a total loss accident. This endorsement will apply for a set period of time after the new vehicle is purchased. At Sonnet, a depreciation waiver is included in our Vroom Service Bundle. It can also be purchased on its own.

Why should I have a depreciation waiver?
Without a depreciation waiver, if you experience a total loss due to theft or accident, you won’t be reimbursed for your vehicle’s full value – you’ll only receive the depreciated value. This means that if you want to replace your car with another new car of equal value, you might not be able to.

Conditions:
Your insurer will pay the lowest of the actual purchase price, manufacturer’s suggested retail price at the time of purchase, the cost of replacing your car with a new car of the same make or model.

• You must be the original owner of the vehicle.
• Tires, batteries, replacing parts for previous unrepaired damage are not included.
• The loss/damage must occur before the policy expiry date.