If you are planning to rent a car, you may be wondering about the types of rental car insurance available to you. In some cases, your personal auto insurance may cover rentals, but this varies from one policy to another; check your coverage for Legal Liability for Damage to Non-Owned Automobiles, which, in Ontario, is also called SEF 27. This endorsement may provide specific protections like a loss damage waiver or collision damage waiver, or you may choose to purchase a standalone policy for certain types of coverage. Learn more in the following guide from the Pfaff Autoworks team so you can better protect yourself and your vehicle on the roads of Unionville, Richmond Hill, and beyond.
Four types of rental car insurance are most common, with each one offering a specific coverage:
Liability insurance reduces your personal liability if you cause an accident or injury while driving your rental. This kind of policy is required by law in every province. If you have the SEF 27 endorsement on your personal auto policy, you are likely covered for rentals as well, but contact your insurance agent or read your coverage terms to confirm this.
A loss damage waiver, also known as a collision damage waiver, covers certain costs, up to the policy limits, relating to vehicle theft or collision. Drivers who have collision and comprehensive coverage along with the SEF 27 endorsement may provide this waiver--again, consult your policy for details--or, in some cases, credit card companies might offer this coverage to cardholders.
This insurance covers you and your passengers in the event of accidental death and dismemberment. While it is not required by law, it can give you significant peace of mind on all your travels in Vaughan or wherever the road takes you. Keep in mind that your personal auto or health insurance policy may already include this coverage.
Personal effects insurance covers the costs of your personal items inside the rental car, up to the policy limits, if they are lost or damaged due to a covered event. Many homeowner and tenant insurance policies have personal effects coverage that will protect you when renting a car, but as with the other policies discussed here, check the fine print to ensure you are already covered.
Contact us if you have any questions or would like more information. Having insurance safeguards in place when renting a car will minimize stress and help you enjoy a smooth rental experience.
