The following basic insurance coverage is included with every rented vehicle at no additional charge.
- Third Party Liability Bodily Injury & Property Damage
- Accident Benefits – Basic – As per Minimum Mandatory Provincial requirements
- Direct Compensation Property Damage subject to a $1000 Deductible
- Optional All Perils Physical Damage subject to a $2000 Deductible. Please note All Perils must be maintained on a vehicle once it has been added . If you select and report optional All Perils coverage for a vehicle it must be reported this way for the entire term or until such time as the vehicle is deleted from the fleet.
- Conversion Coverage: Excluded
Conversion is defined as a form of theft, the taking of property which actually belongs to another and using it as if it were property owned by the person doing the converting e.g. you rent a rent a vehicle to someone who does not return it.
Downtime and diminished value are not payable under this policy.
Endorsements attached to and forming part of this policy
OAP #1
Ontario Automobile Policy
OPCF 5
Permission to Rent or Lease Automobiles and Extending Coverage to the Specified Lessee(s).
OPCF 5C
Permission to Rent or Lease (unspecified Lessees – short term leases only) – allows you to rent vehicles to others for no more than 28 consecutive days.
OPCF 21A
Monthly Reporting Basis Fleet Endorsement – covers all designated vehicles you own or lease and use in the short term rental business subject to Monthly Reports filed with the Insurer.
OPCF 40
Fire Deductible Endorsement – imposes any deductibles from Section 7 of the OAP No. 1, Owner’s Policy onto losses caused by fire of the entire vehicle