There are some additional coverages you can buy.

You can buy rental reimbursement (“Loss of Use“), which will pay for a rental car while your vehicle is being repaired. ( If the accident was not your fault, the cost of the rental car is automatically picked up by your insurance company .. subject to some exceptions).

If the accident is completely  – or partially – your fault,  you’d be covered for the Car rental cost IF you’ve bought the optional “Loss of Use” coverage.

If you’re not sure whether you’ve purchased this coverage, let us know and we’ll check your policy for you ]

If you are buying or leasing a NEW vehicle (a private passenger automibilie or a snowmobile), you can buy the “Removing Depreciation Deduction” endorsement:  Under certain conditions, this endorsement waves depreciation when setting physical damage loss to new vehicles for set period of time following purchase.  If your car is written off during this period you would be reimbursed the original purchase price (instead of  the probably-much-lower current value).

Another very popular optional coverage (which you can buy IF you qualify) is the A.P.E 

… no, not that APE in the picture!

I’m talking about the A.P.E:  Accident Protection Endorsement.  This relatively-inexpensive coverage would protect you from having to pay a higher premium after your first AT-FAULT accident.

What if you damage a vehicle you don’t own … such as a rented car?!!!

Yup, you can get coverage for that (assuming you qualify).  In Ontario this is known as the OPCF27.  By adding an “OPCF 27” to your automobile policy, you won’t have to worry about buying extra insurance whenever you rent a car ……… Unless in cases when it would make sense to buy the insurance from the rental company.  Feel free to ask an MIB broker about this to make sure you don’t waste your  money.


Eddie works exclusively with “tech companies” such as: software developers, game developers, IT consultants, data centres, web designers, and more. He helps tech businesses protect themselves against ‘The Monsters’.

Tagged on: