You are covered for a temporary replacement or newly acquired vehicle as defined in your insurance policy BUT only coverage as specified on your previous vehicle. There are restrictions as to the length of time this extension will apply so be sure to check your wording or discuss this limitation with your broker or agent.
If your province or territory has a "failure to produce proof of insurance" ticketing in place then you would likely receive a ticket unless you have notified your insurance agent or broker and have a liability card for your substitute or newly purchased vehicle. Most insurance companies do not regard this type of ticket as a "moving violation". It still can be rather expensive and the police might impound your vehicle.
It is always best to discuss your situation with your agent or broker and have the documentation ready for examination by civil authority.
