If you have rental car coverage on your automobile insurance policy, and you go and rent a U-Haul cargo van or pick-up truck - are you covered? What do you think?
This is not an easy question and is misunderstood by most. The safest route is to talk to your insurance broker before assuming anything is covered ... that is what we are here for. That being said, here is the basic answer:
The rental car coverage on your auto policy is designed for when you rent a personal vehicle, and not for most trucks and vans that you might hire for a move. As a result, there are some exclusions that would apply. Here are the main ones that would apply:
So as mentioned, every situation is unique, so give us a call to make sure.
Of note, one of the recommendations put forth in the Report on the Five Year Review of Automobile Insurance, presented to the Financial Services Commission of Ontario is as follows:
"The superintendent intends to amend the OAP 1 to provide a limited amount of coverage for vehicles with a GVWR over 4,500 kg's."
This is just a recommendation and has not been adopted, so ensure you are properly covered.
Sheila Minogue-CalverRead more »