Cheapest rental insurance Канада


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We’re raising our families in Toronto just like you, so we understand the high car insurance rates Toronto drivers face. That’s why we’re proud that InsuranceHotline.com has been helping drivers save money by providing online car insurance quotes from over 30 competing insurance companies since 1994. Our network of brokers and insurance agents provides you with instant, free, real-time Toronto auto insurance quotes to help you easily compare and find the best rate available today.

It’s how we protect our cars and our families, and how millions of other Canadians protect theirs too. Completing a quote takes less time than your coffee order and there is absolutely no obligation to buy. Save time and money by comparing car insurance quotes today.

Recent Toronto Quotes

Shopper from TORONTO, ONTARIO 2014 MERCEDES-BENZ E350 CABRIOLET

SGI Canada $1507
Aviva Product (S&Y) $1522
Desjardins General Insurance $1523
Aviva $1742
Range of quotes $235

Shopper from TORONTO, ONTARIO 2012 HONDA CIVIC DX 4DR

Wawanesa Mutual $1932
Aviva Product (S&Y) $2004
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Shopper from TORONTO, ONTARIO 2020 BMW TRUCK/VAN X7 40i 4DR AWD

Zenith Insurance $1893
Aviva $2013
CAA Insurance $2121
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Range of quotes $278

Shopper from TORONTO, ONTARIO 2020 BMW TRUCK/VAN X7 40i 4DR AWD

Aviva Product (S&Y) $1907
Aviva $2013
CAA Insurance $2121
Intact Insurance Company $2171
Range of quotes $264

Frequently Asked Questions (FAQs) about Toronto auto insurance

Why is Toronto car insurance so expensive?

When it comes to determining your auto insurance rates, where you live matters. Your insurance company takes into consideration the likelihood of a claim occurring not just in your city, but in your neighbourhood too. Toronto and the GTA have a number of unique circumstances that contribute to higher car insurance rates.

More cars, more claims

Generally speaking, the more vehicles on the road in your area, the higher your risk factor of having to file a claim.

Lots of commuters

Toronto is a busy and growing metropolis. According to the 2020 Census, 2.7 million people live in the City of Toronto, of which 575,260 (approx. 46 per cent) use their vehicle to drive to work. Your commute is another variable that factors into your auto insurance rate, including the average kilometres your drive each year.

Insurance fraud

Toronto is part of Ontario, which is notorious for having the highest auto insurance rates in the country. This is in part a result of the significant amount of fraud that happens in this province. According to the Ontario Auto Insurance Anti-Fraud Task Force, the majority of instances of insurance fraud happens in the GTA, putting Toronto drivers at higher risk.

Unfortunately, some of the cost of this fraud is passed onto drivers in Toronto (and across the province) through higher than average auto insurance rates.

This is why it’s so important to compare car insurance quotes in Toronto. With so many variables at play, rates can fluctuate widely from one insurance provider to the next.

How much is the average car insurance in Toronto?


We ran the numbers, and based on quotes completed on InsuranceHotline.com, found that drivers in Toronto paid an average of $1,864 in auto insurance premiums in 2020, or approximately $155 a month.

If you haven’t yet checked to see how much you could be saving, complete a quote today. It takes less than five minutes and pulls rates from 30+ insurance providers in the same amount of time it takes to make a coffee or allow your tea to steep. Find out how much you could save today.

How much can I save on car insurance in Toronto with InsuranceHotline.com?

Toronto drivers saved an average of $128 on their car insurance premiums in 2020 (that’s almost equivalent to one free month of auto insurance) by comparing quotes on InsuranceHotline.com.

The best way to find out how much you could save is to compare Toronto auto insurance quotes today.

Get the cheapest Toronto car insurance when you bundle with home insurance

Home is Toronto

Living in Toronto is expensive. According to reports, homes cost an average of $1 million to buy and a one-bedroom rental averages more than $2,000 a month. Your home, tenant or condo insurance is another expense—albeit a necessary one—on top of that. And if you drive a car in the city, which is one of the most expensive cities to insure a vehicle in the province, then yet another expense is added to your list. Ouch!

The good news is that there are savings to be had when you bundle your home insurance and car insurance under the same insurance provider. You can save anywhere from five to 15 per cent off each policy when you combine them, which means you’re not only getting the cheapest Toronto car insurance, but the cheapest Toronto home insurance too. Depending on your situation, this can provide up to hundreds of dollars in additional savings.

If you haven’t already, switching providers so that all of your insurance is under one proverbial roof is another way to save on your insurance. Compare car insurance rates today—and be sure to select the bundling option when completing your quote—to find out how much you can save.

Tips for getting the cheapest car insurance in Toronto

Attention Toronto drivers: We’ve rounded up some insider tips on how you can save money today on your car insurance premiums in Toronto.

InsuranceHotline.com shoppers save an average of $427 by comparing car insurance quotes with us.

If it fits your budget, increase your deductibles from $500 to $1,000 to save 5 to 10% on your Toronto car insurance

Lump Sum Payment

A single annual payment can shave off administrative fees often associated with monthly payments

Purchase auto insurance and home insurance from the same company to save 5 to 15% off your premiums

More is Merrier

Save 10 to 20% when you insure all your vehicles under the same policy

Change Tires Seasonally

Let your insurer know if you have winter tires. A winter tire discount could save you about 5%

Renewal time is the best time to save. Compare rates annually and also get rid of coverages you no longer need

Ask about Discounts

You’re a savvy city-dweller, but don’t be afraid to ask about discounts you might be eligible for including alumni and claims-free savings

Is your child almost ready to take the wheel? Encourage them to take driver’s ed to save on Toronto car insurance

Driving in Toronto — Rules of the road

Very few things will drive up your auto insurance premiums faster than causing an accident. If you’re living in the city of Toronto or frequently drive in it, you need to be aware of the local laws so you can avoid hurting yourself, others, your driving record and/or your insurance history.

Here are some things to be mindful of when driving in Toronto:

  • Stop when the streetcar stops. In Toronto, you cannot pass streetcars when the doors are open and must stop behind the streetcar whenever it stops to let passengers board. If you are driving behind a streetcar, wait until the doors are closed and be sure there are no late stragglers attempting to board before you release your foot off that gas pedal.
  • Give cyclists space. Drivers are required to give cyclists a minimum of one metre space when passing. If not obeyed, drivers can face a fine of $110 ($85 set fine, $5 court fee plus $20 victim surcharge fee).
  • Check for cyclists before opening your door. Dooring is a real concern in Toronto. Before opening your door, make sure no cyclists are passing or risk a fine totalling $365 (up to $1,000 if you contest it) plus 3 demerit points upon conviction
  • Don’t drive distracted. There is enough to distract you in a busy city without the addition of your phone. If you’re caught distracted driving, you face fines of $490 to $1,000 plus three demerit points. If careless driving is also a factor, these fines climb to up to $2,000 with six demerit points plus a possibility of jail time and licence suspension. This can also escalate to dangerous driving, which holds jail terms of up to 10 years for causing bodily harm and 14 years for causing death
  • Mind your speed. Most local streets have a default speed limit of 50 km/hr when not posted. However, this decreases to 40 km/hr on local streets adjacent to schools, parks and in many neighbourhood communities

Car rental insurance in US with Canadian hired car

There are a few posts around car rental insurances here on Travel but my situation is a bit unique. Some facts.

  • Flew into Vancouver, Canada from New Zealand with my wife and 6 month old and hired a rental car for 88 days
  • Did not purchase the additional insurances which I believe is damage waiver and personal liability, both at $6 CAD and $1 CAD per day respectively
  • I personally am fully covered through my corporate insurance policy which states not to purchase insurance at the desk when hiring a car.
  • Spent 2 days in Vancouver, Canada and then drove to Oregon where we will be spending all my time (working)
  • The rental agreement is actually split into 3 since Rental car agencies only have contracts for 30 days. So I have the 3 agreements on dates of 19 Apr, 19 May and 18 Jun.
  • Oregon has the following requirements for Insurance found on the dmv site
  • My wife is listed as a second driver
  • My wife has independant travel insurance that covers medical and car excess insurance only
  • My corporate insurance does not cover her for vehicle insurance


What I am wanting is to find a way to get my wife covered to drive the car for the rest of the duration. This has been proven to be quite difficult for the following reasons.

  • The Rental car agency will not allow insurance to be added mid agreement. If it is possible to add at the agreement boundaries the insurance would be $24 USD per day making it quite expensive
  • The Rental car agency office cannot add the insurance in Oregon since the car was rented in Canada.
  • We tried online sites but they can only provide insurance with dates that match the agreements. It would be possible to have it start on 19 May, however.
  • They state that it only applies to US rented vehicles. (this particular site which would have given us about 40 USD insurance per the 30 day period)
  • Cannot get personal vehicle insurance such through AAA as they do not cover rental cars (afaik)
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So with all that in place. Is there a way to get insurance for my wife for the same rented car while in the US (Oregon)? the most promising lead was were we found specific online companies that can cover Rental cars but we need one that will allow cover while in the US for a Canadian rented car making sure the level of cover match Oregon state law for vehicle cover.

Having a high excess is not an issue because we have travel insurance that will cover that.

Car rental insurance for a Canadian traveler — Willemstad Forum

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I want to rent a car during my vacation and i would like to know if car rental company provide a liability insurance. I am covered for Auto Rental Collision Loss Damage Insurance with my credit card. My car insurance in Canada does not cover me for the liability insurance when travelling in Curacao. I would like to know what do you do when you rent a car in Curacao.

I contact the car rental company and ask them that exact question.

I find that Prins Car Rental have a SLI standard in their insurance but, the max. Insurance is Nafl 150 000

($85,714,28). It is not enough but better than having no insurance. My car insurance at home cover only the USA when travelling. All the big names car rental don’t have any SLI insurance.

If someone find more info about the insurance, please share it.

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Rental Car Insurance

Everything Canadians need to know about car rental insurance to save money for your vacation

What is rental car insurance?

Rental car insurance comes in many forms. The 4 options are loss damage waiver (LDW), collision damage waiver (CDW), personal effects coverage (PEC), personal accident insurance (PAI), and liability. Each type of coverage is there to protect you, your passengers, the rented vehicle, your personal belongings, and any injuries that may occur, or damages to another person’s property or vehicle as a result of a collision.

Car rental agencies insure their fleets, so what they’re offering isn’t actually insurance. If you pay for the different coverage options, it means they can’t pursue you for any damages.

Types of car rental insurance coverage

Rental car insurance is offered to you at the counter when you pick up your vehicle. Unfortunately, it can create undo pressure on you to make a quick decision. It’s a good idea to know how you might be protected ahead of time. If you know the rules, you can make a smart, informed, and financially savvy decision.

Here is an overview of the available rental car insurance coverages:

Protects you from charges related to theft and collision of the rental car. CDW or LDW is not an insurance policy, by signing the agreement, you’re paying the car rental agency to waive its right to pursue you for damages or losses.

Cost: $9 to $30 per day
Required: Yes, but many credit cards insure the rental car for CDW and LDW. Read your card’s fine print. Your auto insurance policy may also cover it.

Provides accidental death and dismemberment coverage to the driver and any passengers in the car at the time of the accident. Rental car agencies each have a different benefits package, but typically the driver is covered up to $100,000 and passengers receive $10,000.

Cost: $7-$10 per day
Required: No, but you’re leaving yourself exposed. Buy it if you don’t have your own auto insurance policy with an endorsement to drive rental vehicles (OPCF27).


Protects you from being held liable in a collision. If you are at fault in a collision and injure another person, or damage someone else’s property like their vehicle, you will want to have liability insurance. Liability will cover the costs associated from the crash including the vehicle and medical benefits to anyone injured.

Cost: $15-$30 per day
Required: Yes, unless you have an auto insurance policy with $1-$2 million in liability and an OPCF27 endorsement porting that coverage onto your rental car.

Sometimes called personal effects protection gives you peace of mind for your personal belongings and valuables. However, there is a stated limit and will often need a deductible paid before a claim is paid out. Typically, the coverage is $500 with a $25 deductible per person, but there are limits as to how many passengers can claim.

Cost: $2-$5 per day
Required: No, so long as you have home insurance. Otherwise, pay for it if you don’t want the risk of losing something $500 or less.

When should you purchase rental car insurance?

Even though numerous financial experts advise against purchasing a rental agency’s insurance, there is no simple answer. You could have varying degrees of rental car insurance coverage from your personal car insurance policy, your travel credit card, your cashback credit card, and even your home or tenant’s insurance. It’s important to know what level of coverage you have before you visit a rental car agency.

Here are some instances where you should consider buying car rental insurance:

You don’t have car insurance and your credit card doesn’t provide coverage

Without your own auto insurance policy that includes collision and comprehensive coverage, or at least credit card that provides CDW and LDW coverage, there is too much financial risk.

Your auto insurance policy doesn’t have OPCF27 endorsement

In order to be covered for liability and personal accident insurance, your auto insurance policy needs the OPCF27 (liability for non-owned automobiles) endorsement to be transferable to a rental car.

You are a high-risk driver and it is not worth another claim

If you are already paying a lot for car insurance due to accidents and tickets, it’s likely not worth making yet another claim with your insurer. Buy the insurance to avoid making a claim with your insurer.

Travelling for business

Do not assume your personal policy has you covered if you’re on official business. Your employer is paying for the rental car, they should pay for the insurance too.

Renting sports, luxury, or specialized vehicles

These are expensive cars and have a higher replacement value than your own. If you want to pay for fancy, best to pay the fancy insurance as well.

Your own policy only covers the minimum

Collision and comprehensive, which covers CDW and LDW, are optional on your auto insurance policy. The minimum liability is $200,000.

International travel (outside North America)

Your own policy may not cover you beyond North America’s borders. Either call your provider to find out, or pay for the insurance at the counter.

When can you avo > While paying for rental car insurance may give you peace of mind, it’s not always a smart financial decision. If you have a personal auto insurance policy with collision, comprehensive and OPCF27 (liability for non-owned automobiles), a rewards credit card or even home insurance you may want to avoid purchasing additional coverage.

Here are the 4 types of insurance offered by rental car agencies and when you can avoid paying for them:

How to save money on a car rental?

If you’re trying to lower your monthly cost of auto insurance, we recommend speaking with your broker, agent, or private insurer to see what options are available. Also, make sure to check the CLEAR table provided by the IBC to see how much your car costs ahead of its purchase. As well, if you’ve previously held insurance in another jurisdiction you may be able to apply for additional discounts. Here are some more tips to help you save:

Shop and compare

Use the internet to your advantage and shop with vroomvroomvroom.ca, autoslash.com, Costco, or Kayak to compare prices. Check the different agencies as well to compare the best rates.

Leverage loyalty programs

Many rental car agencies have loyalty programs that allow you to earn points and redeem them towards a cheaper rental.

Look for coupoons

All the agencies will offer coupons, discounts, or even free days depending on your location and length of rental.

Take the economy car

Economy cars are usually the cheapest, but they also rent the most. You may get a free upgrade if they’re all out of economy cars, but don’t book something too small for your party.


Skip the airport

Often times, booking away from the airport saves you on the premiums airport locations charge for convenience.

Skip the insurance

If you have an auto insurance policy, home insurance, and a good credit card — you can likely forego the insurance.

Frequently Asked Questions about rental car insurance

Other helpful car rental resources

Check out our insurance blog

Generally, you buy life insurance before you need it. But if you’ve left it too late, can you get life insurance with a terminal illness? Let’s find out. Continue reading →

Your car insurance renewal came in the mail. You can opt to do nothing, and if there’s no reason your provider would cancel your insurance, it should auto-renew. Or, you can take 5 minutes (10 if you don’t know your … Continue reading →

The Best Credit Cards That Offer Free Car Rental Insurance in Canada 2020

Posted by Enoch Omololu | Updated on Sep 28, 2020 | Credit Cards | 5

How many times have you been faced with the decision on whether or not you should purchase car rental insurance while at the car rental company? It always catches me by surprise when the customer rep at the car rental agency asks if I want auto rental insurance and emphasizes why I need it so badly. I just never really think about insurance before venturing to rent a car.

Car rental insurance sold as Collision Damage Waiver (CDW) or Loss Damage Waiver (LDW) does not come cheap. At up to $30 per day, you could easily be on the hook for approximately $1,000 for a 30-day rental and it is often more expensive than the rental fee itself.

So, should you pay for the car rental insurance offered by the car rental agency? It depends.

There are several no-fee credit cards (and most premium cards) offering free rental car insurance coverage that protects your rental car against collision damage and loss, subject to specific conditions. They also cover the costs of towing and loss of use fees charged by the rental company.

If your credit card offers free rental car insurance benefits, you can save lots of money every time you rent a car!

Table of Contents

What Does Credit Card Rental Car Insurance Cover?

Credit cards that offer Rental Car Collision and Loss Damage Insurance often provide coverage for:

  • Damage to the rental vehicle
  • Loss/theft of the rental vehicle
  • Towing charges, and
  • Loss of rental car use fees

In general, you need to decline the rental company’s collision damage (CDW) and/or loss damage (LDW) waiver coverage in order for your credit card’s rental car company insurance to kick in. Credit card companies also require that you pay for the entire cost of the car rental using your card and rent it out in your name.

What Is Not Covered by Credit Card Car Rental Insurance?

Most credit cards do not offer any third-party liability coverage or protection for personal injury and damage. For example, if the other party’s vehicle is damaged or they are injured, this is not usually covered by your credit card car rental insurance. If you own a personal car that is insured, your third-party liability coverage may already cover you in a rental car.

A minimum level of third-party liability also comes with all rental cars in Canada by law. The minimum amount starts at $200,000 and may be up to $1,000,000 depending on the province and/or car rental company. This minimum coverage is already factored into your car rental and does not require an additional fee.

If you are driving a rental car outside of Canada, the minimum liability insurance coverage at your location may vary wildly and be so minimal that it potentially exposes you to significant out-of-pocket costs. In this case, it becomes especially important to ensure that you have personal third-party liability coverage in place.

Credit card auto insurance provides coverage for a limited number of days, usually between 31-48 days. If your rental exceeds the maximum length of time (e.g. 48 days), no coverage will be provided.

Other exclusions or limitations that may apply include:

  • Some countries may be excluded from coverage e.g. may be limited to North America.
  • Not all vehicles are covered e.g. trucks, pick-up trucks, off-road vehicles, trailers, motorcycles, recreational vehicles, mini-buses, antique cars or exotic cars, and very expensive vehicles exceeding a defined manufacturer’s suggested retail price (MRSP) at the time of loss or damage.

Read your credit card agreement in detail to know what is covered and what is excluded.

Best No-Fee Credit Cards That Offer Rental Car Insurance Benefit in Canada

These credit cards do not charge an annual fee and provide free rental car insurance, often referred to as Rental Car Collision/Loss Damage insurance.

1. Scotiabank American Express


The Scotiabank American Express card is a great no-fee card and is related to the Scotiabank Gold American Express which is the premium version of the credit card.

Car Rental Insurance

This card offers car rental insurance that protects against theft and damage for up to 48 consecutive days and $65,000. You must rent the car in your name and pay the rental fee with your card or by using your Scotia Rewards points. A notice of claim must be filed within 90 days.

Other Benefits of the Card

  • No annual fee
  • $50 bonus (5,000 points) when you spend up to $500 in the first 3 months
  • Earn 1 Scotia Rewards point for every $1 you spend on everyday purchases
  • Save up to 25% on car rentals at participating AVIS and Budget locations
  • Travel emergency medical insurance
  • Travel accident insurance
  • Trip interruption insurance
  • Extended warranty and purchase protection

2. Triangle World Elite Mastercard

The Triangle World Elite Mastercard is managed by Canadian Tire Corporation and is included on my list of the best no-fee credit cards in Canada.

Rental Car Insurance

This card offers car rental collision and loss damage waiver insurance when you rent most passenger vehicles for a period not exceeding 31 consecutive days. You must rent out the car in your name, pay for it using your card, and decline the rental agency’s CDW.

The maximum MSRP value of the vehicle covered is $65,000 and you must report a claim within 48 hours.

Other Benefits of this Card

  • No annual fee
  • 4% in CT Money when you shop at Canadian Tire and their partner stores
  • 3% in CT Money on your grocery purchases (excluding Costco and Walmart)
  • 5-7 cents per litre when you buy gas at Gas+/Essence+ locations
  • Free Gold Plan Roadside Assistance worth $99 per year (within Canada and the U.S.)
  • Extended warranty and purchase protection

3. PC Financial World Elite Mastercard

The popular PC Financial World Elite card is one of the best credit cards for earning cash back if you shop at Superstore and Shoppers Drug Mart.

Car Rental Insurance

They offer car rental insurance that covers damage and theft for up to a period of 31 consecutive days. As expected, you must decline the car rental’s CDW/LDW, rent the car in your name, and pay the entire cost of the rental using the card.

The maximum car value covered is up to $65,000, and you must report a claim to the insurer, American Bankers Insurance Company of Florida within 48 hours of a loss or damage.

Other Benefits of this Card

  • No annual fee
  • Earn 45 PC Optimum points per $1 spent at Shoppers Drug Mart
  • Earn 30 PC Optimum points per $1 spent at Superstore (3% rewards rate)
  • Earn 30 points per $1 spent at PC Travel
  • 10 points per $1 spent on all other purchases
  • 3 cents per litre when you buy gas at Mobil or Esso stations
  • Travel emergency medical insurance (up to 10 days)

The PC Financial Mastercard is great for earning PC Optimum points and free groceries.

For a limited time, you can get a FREE $100 Gift Card when you sign up for a new PC Financial Mastercard here.

4. Rogers World Elite Mastercard

The Rogers World Elite Mastercard is provided by Rogers Bank and is on my list of the best no foreign transaction fee cards in Canada.

Rental Car Insurance

This card offers rental car collision/damage insurance that is underwritten by CUMIS General Insurance Company and provides coverage for a maximum of 31 consecutive days. You must be a Canadian resident, rent the car in your name, and pay the full rental costs with your card. You must also decline the rental car agency’s waiver.

This car rental insurance covers up to $65,000 in damage or loss.

Other Benefits of this Card

  • No annual fee
  • $25 sign-up bonus here
  • 4% unlimited cash back on all foreign purchases which effectively pays back the basic 2.5% foreign transaction fee plus a 1.5% GAIN
  • 2% unlimited cash back on purchases on purchases of Rogers products and services
  • 1.75% cash back on all other purchases
  • Extended warranty and purchase protection
  • Out-of-Province and Out-of-Country medical, trip cancellation/trip interruption protection

5. Home Trust Preferred Visa

The Home Trust Preferred Visa card is issued by Home Trust and considered one of the top cards for avoiding 2.5% or more in foreign currency surcharges when you make purchases in a foreign currency and for free roadside assistance.


Car Rental Insurance

This card provides an auto rental collision and loss insurance that is underwritten by Royal Sun and Alliance Company of Canada. The car rental insurance coverage provided by the card is basic and similar to the other no-fee cards.

Other Benefits of this Card

  • No annual fee
  • 1% unlimited cash back on all purchases
  • Free Roadside Assistance
  • $0 FX-markup fee
  • Purchase protection

Best Premium Credit Cards With Rental Car Insurance in Canada

These cards come with an annual fee and premium benefits in addition to car rental insurance.

6. Scotiabank Gold American Express Card

The Scotiabank Gold AMEX card has one of the best car rental coverages and comes with an annual $120 fee tag.

Car Rental Insurance

This card offers car rental insurance covering up to 48 consecutive days per rental period and up to $65,000 in value.

Other benefits of the card are:

  • $250 bonus (25,000 Scotia Rewards points) when you spend $1,000 in the first 3 months
  • 5 points per $1 spent on groceries, dining, and entertainment
  • 3 points per $1 spent on gas and daily transit
  • 1 point per $1 spent on all other purchases
  • Travel emergency medical insurance up to $1 million
  • No foreign transaction fee (savings of 2.5%)
  • Trip cancellation, trip interruption, flight delay, delayed and lost baggage, and travel accident insurance
  • Hotel/motel burglary insurance
  • Purchase protection and extended warranty
  • Discounted Priority Pass membership (35% off)

7. Scotiabank Passport Visa Infinite

This premium travel rewards card from Scotiabank comes with a $139 annual fee. It is one of the best no foreign transaction fee card in Canada.

Car Rental Insurance

The Scotiabank Passport Visa Infinite protects you against rental car damage and theft for up to 48 consecutive days and a maximum of $65,000.

Other benefits of the card include:

  • 25,000 bonus points ($250 value) when you spend $1,000 or more in the first 3 months
  • 2 Scotia Rewards points per $1 spent on groceries, dining, entertainment and transit
  • No FX transaction fee
  • 1 Scotia Rewards point per $1 spent on all other purchases
  • Complimentary Priority Pass membership plus 6 free VIP airport lounge visits per year ($261 value)
  • Travel emergency medical insurance
  • Trip cancellation/trip interruption and flight delay insurance
  • Delayed and lost baggage insurance
  • Travel accident insurance against loss of life or dismemberment
  • Purchase protection and extended warranty

8. BMO World Elite Mastercard

The BMO World Elite Mastercard comes with a $150 annual fee (waived in the first year).

Car Rental Coverage

This card offers car rental insurance for up to 48 days and up to a maximum of $65,000. In addition to the basic coverage for loss and damage to a rental car, it also provides car rental accidental death and dismemberment benefits of up to $200,000 for the primary cardholder.

Also, your personal effects are protected against theft or damage up to $2,000 per account during each rental period.

Other benefits of the card:

  • Get up to $500 in rewards when you sign up, including a waiver of the $150 fee for 1 year
  • 3 BMO Rewards points for every $1 spent on travel, dining, and entertainment
  • 2 BMO points per $1 spent on all other purchases
  • Trip cancellation, trip interruption, trip delay, and flight delay benefits
  • Baggage and personal effects benefits
  • Out-of-Country/Out-of-Province emergency medical benefits up to $2 million
  • Purchase protection and extended warranty
  • Complimentary membership in Mastercard Airport Experiences provided by LoungeKey plus 4 annual complimentary passes

9. American Express Gold Rewards Card

This premium card comes with a good number of travel rewards and benefits and has an annual fee of $150.

Car Rental Insurance

The rental car insurance covers damage or theft up to an MSRP of $85,000 and 48 consecutive days. Don’t forget to decline the car rental agency’s CDW or LDW and pay the rental fee with your card to qualify for this coverage.

Other benefits of the card:


  • Welcome bonus of 25,000 points when you spend up to $1,500 in the first 3 months
  • Earn 2 points per $1 spent on travel, gas, grocery, and pharmacy purchases
  • Earn 1 point per $1 spent on all other purchases
  • Comprehensive travel insurance benefits including emergency medical (up to $5 million), trip interruption, lost or stolen baggage, flight delay, and travel accident insurance
  • Purchase protection and extended warranty

Saving on Car Rental Insurance

These credit cards can help you save money when you rent a car. Remember to check your coverage details before arriving at the rental car company so you can make the right decisions when asked about whether or not you want to pay for Collision Damage/Loss Damage waivers.

If you choose to go with the coverage provided by your credit card, you should rent the car in your name and pay all the rental costs using the appropriate card. If you need to report or make a claim, do so immediately if possible to avoid any problems.

How Much Is Short Term Rental Insurance In Canada?

How Much Is Short Term Rental Insurance In Canada?

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Coverage Description
Loss Damage Waiver & Collision Damage Waiver
Personal Accident Insurance or PAI
Liability Insurance or LI
Personal Effects Coverage or PEC

If you own a secondary property, you may be renting it out and wondering how much is short term rental insurance in Canada? Whether it’s a cottage, chalet, condo or house, you’re likely aware that renting to others opens you up to new risks. It doesn’t matter who you rent to or what online provider you use, as an owner, you’ve gots lots to consider before (and after) jumping into the short term rental market. That’s why it’s important to protect yourself appropriately by asking an ALIGNED Insurance broker how much is short term rental insurance in Canada?

Short term rentals = great ROI. Across Canada, online rental services such as AIRBNB help property owners generate additional income and connect renters with unique experiences in popular travel hot spots. Short term rentals also create job opportunities for a multitude of related services such as cleaning and property maintenance.

But…short term rentals also generate risks. Did you know that a typical personal lines condo and homeowners policy doesn’t appropriately cover “commercial use” i.e. renting it out to others? In fact, renting out your property to others could actually null and void your coverage, leaving you personally exposed to significant risk.

Is your coverage adequate? Insurance available through online services such as AIRBNB may have unexpected coverage gaps and holes that could leave you unprotected. Like any income generating venture, renting your property out on AIRBNB or using a similar online website service comes with risks. Across the country, the ALIGNED team of experienced Canadian insurance brokers knows how to connect you with the best short term rental insurance options that will protect your interests.

Need Answers To How Much Is Short Term Rental Insurance In Canada? Read This.

We help owners get short term rental insurance. To ensure we secure appropriate insurance for your short term rental property in Canada, we first need you to complete this brief AIRBNB Rental Property Insurance Application. Once completed and returned to quotes@alignedinsurance.com, we’ll get the quoting process started.

Here’s a preview of the info needed to get short term rental insurance in Canada:

  • Specific details about the amount and duration of expected rental activity
  • Snail mail address of the short term rental property location
  • Details about the property – including replacement cost for the contents in the short term rental property
  • Information about any historic insurance claims

For More Info About How Much Is Short Term Rental Insurance In Canada Or To Get A Quote Connect With One Of Our Canadian Insurance Brokers Today at 1-866-287-0448

How Much Is Short Term Rental Insurance In Canada?

How Much Is Short Term Rental Insurance In Canada?

Click Here To Get Short Term Rental Insurance In Canada
OR
Call us toll free at 1-866-287-0448

If you own a secondary property, you may be renting it out and wondering how much is short term rental insurance in Canada? Whether it’s a cottage, chalet, condo or house, you’re likely aware that renting to others opens you up to new risks. It doesn’t matter who you rent to or what online provider you use, as an owner, you’ve gots lots to consider before (and after) jumping into the short term rental market. That’s why it’s important to protect yourself appropriately by asking an ALIGNED Insurance broker how much is short term rental insurance in Canada?

Short term rentals = great ROI. Across Canada, online rental services such as AIRBNB help property owners generate additional income and connect renters with unique experiences in popular travel hot spots. Short term rentals also create job opportunities for a multitude of related services such as cleaning and property maintenance.

But…short term rentals also generate risks. Did you know that a typical personal lines condo and homeowners policy doesn’t appropriately cover “commercial use” i.e. renting it out to others? In fact, renting out your property to others could actually null and void your coverage, leaving you personally exposed to significant risk.

Is your coverage adequate? Insurance available through online services such as AIRBNB may have unexpected coverage gaps and holes that could leave you unprotected. Like any income generating venture, renting your property out on AIRBNB or using a similar online website service comes with risks. Across the country, the ALIGNED team of experienced Canadian insurance brokers knows how to connect you with the best short term rental insurance options that will protect your interests.

Need Answers To How Much Is Short Term Rental Insurance In Canada? Read This.

We help owners get short term rental insurance. To ensure we secure appropriate insurance for your short term rental property in Canada, we first need you to complete this brief AIRBNB Rental Property Insurance Application. Once completed and returned to quotes@alignedinsurance.com, we’ll get the quoting process started.

Here’s a preview of the info needed to get short term rental insurance in Canada:

  • Specific details about the amount and duration of expected rental activity
  • Snail mail address of the short term rental property location
  • Details about the property – including replacement cost for the contents in the short term rental property
  • Information about any historic insurance claims

For More Info About How Much Is Short Term Rental Insurance In Canada Or To Get A Quote Connect With One Of Our Canadian Insurance Brokers Today at 1-866-287-0448

Canadian Auto Insurance

Find your best Canadian auto insurance quotes right here!

The Cheap Canada Car Insurance Quote
Canadian Drivers Want & Need


If you’re looking to find the best, cheap Canadian auto insurance quotes on the market for your particular driving profile, you’ve come to the right place. We provide a free service whereby once you provide a few details along with the kind of coverage you require, we can quickly search multiple competing Canadian auto insurance companies and show you a variety of quotes that fit your requirements. You can then select the best policy at the cheapest rate. We in effect do all the research for you and provide side by side auto insurance comparisons, so you don’t have to worry about finding the best possible Canada car insurance quote for your needs. It sure beats going from one insurance company to another and taking notes as you go.

Quick Canadian Auto Insurance Quotes

Finding the right auto insurance policy doesn’t have to be a difficult and time-consuming process. With today’s Internet technology, a driver should be able to compare car insurance in Canada with almost no effort at all. That’s exactly what you’ll find when you use our Canadian auto insurance quote comparison system — car insurance quotes in minutes.

Cheap Canada Car Insurance Rates

Our focus is our visitors, and we know how important it is to find low auto insurance rates without sacrificing high quality coverage in case of an accident or other misfortunes like theft etc. Cheap car insurance rates aren’t worth much if the insurance company is unreliable when it comes to making an insurance claim.

Best Car Insurance Shopping Service

We work hard to deliver multiple quotes customized to your individual driving profile almost instantly. All quotes come from top Canada car insurance companies. You can drive away knowing that you’ve searched thoroughly and gotten one of the best deals possible on your Canadian auto insurance policy.

Our Canadian Auto Insurance Quote Comparison Service
— a Great Tool for Low Car Insurance Costs.

In order to protect yourself, your family and others on the road, and to ensure you are able to cover any costs in the event you are involved in a motor vehicle accident, you are required by law to obtain Canadian auto insurance for your vehicle. A basic level of coverage is mandatory, but there is considerable flexibility when it comes to additional coverage.

Understanding all the different types of motor vehicle insurance available can seem a bit complicated, but in reality there are only 6 major types of Canada auto insurance that you can incorporate into your car insurance policy. Obviously the more extras you add, the more it will cost. It makes sense to decide on the kind of coverage you want for your vehicle before comparing quotes. Below is a brief explanation of the kinds of protection that is available.

Liability Insurance

Collision Coverage

Comprehensive Coverage

Accident Benefits

All Perils

  • Mandatory insurance required by all drivers
  • Covers both liability and medical payments to any accident victims
  • Purchase enough insurance to cover yourself in case of a major accident without impacting your assets
  • Insurance that pays for vehicle repairs and medical costs of the insured driver
  • Covers costs even in situations where the insured is at fault
  • Additional cost for which the associated benefits outweigh the costs
  • Insurance that covers for damages from non-collision related situations, for example: vandalism, falling objects, flooding etc.
  • Greatly helps reduce risk based on an individuals needs and insurance assessment
  • Often very reasonably priced to provide peace of mind against uncontrollable situations
  • Provides for medical care and income replacement in the event the insured is injured or killed in a car accident
  • Covers costs for items such as medical, funeral and income replacement
  • In the event of a fatality payments are made to surviving family of the insured
  • Covers for perils named within your policy, for example, fire, theft etc.
  • Often a much cheaper alternative to comprehensive insurance
  • The policy would also cover anyone you hired to drive your vehicle

When it Comes to Canadian Auto Insurance Prices,
it Really Pays to Compare Quotes & Rates.

Each Canadian auto insurance provider has their own unique concepts regarding how they assess risk. They each use similar factors like your driving record, your location, where you park, the type of vehicle you operate and the distance you drive, but they weigh these factors differently from each other. This routinely results in a considerable range of prices when you compare quotes. If you’ve ever shopped for Canadian auto insurance before, you’ve probably realized that there is an opportunity to save, because the premiums for the same or similar coverage can be hundreds of dollars apart — sometimes even more.

An excellent method to be sure that one is signing on to the best achievable auto insurance plan is by comparing rates from as many auto insurance providers as possible. An educated final choice can then be made. We’re proud to say that our free, online car insurance quote compare service is second to none, and will search multiple providers for the best coverage at the cheapest rate on your behalf. Below are some additional simple tips on how you can save money when looking for car insurance in Canada

How the Best Credit Cards for Car Rental Insurance in Canada Work

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Determining if you should buy car rental insurance is confusing. It’s even more confusing when the rental agent gives you a hard sell at the counter and asks “are you sure your credit card covers that?” To play it safe, many Canadians opt in for the optional insurance offered by the car rental agency, but that could be a mistake.

Although your credit card car rental insurance probably won’t cover all your needs, it likely does provide at least a decent amount of insurance. More importantly, if you accept the collision damage waiver (CDW) or loss damage waiver (LDW) from the agency, your credit card car rental insurance will likely no longer be valid.

To help you figure out what your credit card covers you for, we’ve put together this credit card car rental insurance guide that will answer all your questions. Remember, every travel insurance policy is different so you always need to read the fine print.

In This Article:


Summary of Car Insurance Coverage Per Credit Card

Annual Fee Coverage Amount Number of Days Covered Additional Coverage Card Review
American Express Gold Rewards Card $150 $85,000 48 N/A Read More
Desjardins Odyssey World Elite Mastercard $130 Up to actual cost of current value 48 N/A Read More
BMO World Elite Mastercard $150 $65,000 48 Accidental Death & Dismemberment, personal effects Read More
The Platinum Card from American Express $699 $85,000 48 N/A Read More
Rogers World Elite Mastercard $0 $65,000 31 N/A Read More

What You Need to Be Covered for When Renting a Car

Image source: Shutterstock

When renting a car you should consider the possibility of misfortune to your own vehicle/property, as well as the vehicles/property of others. These are the types of coverage you need to keep an eye out for:

  • Damage to the rental vehicle
  • Theft of the rental vehicle
  • Damage to another person’s vehicle
  • Injury to another person
  • Property damage
  • Loss of use of the rental vehicle while it’s under repair

Generally speaking, as long as you charge the full amount of the rental to your credit card and decline the rental company’s collision damage waiver, your credit card car rental insurance will cover you for damage/theft to the rental vehicle, and the loss of use of the rental vehicle while it’s under repair.

Two key things to understand are as follows: despite the fact that your policy may say it covers you for $65,000 or $85,000 in damages, that usually maxes out at the current value of the car. Your credit card car rental insurance will not cover third-party liability, which covers damage to another person’s vehicle and injury to another person.

Each province in Canada sets its own level of minimum third-party liability that must be provided by the rental company. The minimum amount of third-party liability insurance required by law in Canada is $200,000, but many car rental companies have policies that cover you up to $1,000,000. Within Canada, you needn’t purchase additional liability insurance since it’s legally required to come with the car.

If you’re renting a car in a country where there are no laws about liability insurance, you can likely purchase additional insurance directly from the car rental agency so that you’re covered there. If you own a vehicle and have car insurance at home, check your policy as it may already include third-party liability insurance that you can utilize abroad.

What to Watch Out For

Image source: Shutterstock

If you want to take advantage of your credit card’s card rental insurance, there are several conditions and exclusions you should be aware of prior to renting a vehicle:

  • You must be a Canadian citizen with a valid driver’s license.
  • You must charge the full amount of the rental to your credit card.
  • Some types of cars are usually not covered, such as pick-up trucks, commercial vans, antique cars, and luxury cars (over $65K or $85K).
  • Travel in some countries may not be covered by your credit card’s car rental insurance, e.g. in countries for which the Canadian government has issued a formal travel advisory.
  • Your credit card account must be in good standing.
  • 31-48 days of rental is the maximum that your credit card will likely insure you for.
  • If you book your car rental as part of a travel package, you’re still required to charge the full amount of the rental to your travel credit card.
  • If your car rental is provided due to winning a contest, your car rental insurance would apply if you have a history of paying your car rentals with the credit card that includes car insurance.
  • In most cases, if you book your car rental with points, then your car rental insurance would apply assuming the points you use come from the credit card that offers credit card car insurance.

How you use the rental car may also affect your ability to make a claim. Most policies don’t allow you to use your rental car for commercial purposes, which includes moving your own stuff. Your policy would also be void if you get into an accident while under the influence of drugs or alcohol.

Best Credit Cards for Car Rental Insurance

Though many credit cards’ car rental insurance policies have overlapping features, there are some distinctions from card to card that are worth noting.

Best Credit Card for Maximum Payout

The American Express Gold Rewards card has a maximum payout of $85,000. Although this number is $20,000 more than the other cards we’ve listed, remember that you’re still only insured up to the actual current value of the car when it’s damaged. For example, let’s say your rental vehicle had a manufacturer’s suggested retail price of $80,000 but the car has a current value of $60,000, then your payout would be $60,000 if the car is a complete write-off. But the unused $25,000 of coverage could be applied toward the loss of use of the rental vehicle while it’s under repair and reasonable towing.

When comparing different credit cards that come with car rental insurance, you might be pushed in one direction or another depending on the other attractive features offered by the card. For instance, the American Express Gold Rewards card comes with 25,000 points ($250 value) as a sign-up bonus and earns 2 points per $1 spent at eligible gas stations, grocery stores and drugstores.

*American Express is not responsible for maintaining or monitoring the accuracy of information on this website. For full details and current product information click the Apply link.

Best Credit Card for Added Discounts

The Desjardins Odyssey World Elite Mastercard overlaps with some other credit cards in terms of its car rental insurance, but we’re highlighting it because aside from providing car rental insurance it also gives 20% off at participating Hertz car rental locations. As for the included travel medical insurance, cardholders are insured for 31 days if they’re under the age of 65 and for 15 days if they’re between the ages of 65-74. And the annual fee of $120 is waived for cardholders that are already a Desjardins client (i.e. they have a bank account with Desjardins).

Best Credit Card for Covering Personal Items

The BMO World Elite Mastercard is one of the few credit cards that includes a car rental personal effects benefit as part of its car rental insurance policy. What this means is that any personal property stolen in your car rental is covered up to $1,000 per person with a maximum of $2,000 per vehicle.

The card also provides car rental accidental death and dismemberment benefits. Obviously it’s a claim that you’ll hopefully never have to make, but the card entitles you (or your beneficiary) to lump sum payouts depending on your loss as a result of an accidental bodily injury while occupying an eligible rental car. For example, you’d be paid $50,000 if you lose a thumb or $200,000 if you suffer a loss of life.

Best Premium Automotive Benefits Credit Card

The Platinum Card from American Express

Eligibility Criteria:
– Credit score required:
Good-Excellent
– Min personal income required: N/A
– Annual fees: $699

A premium rewards card with a premium price tag of $699, the Amex Platinum Card comes with many benefits that cardholders enjoy when driving or parking. It’s Car Rental Theft and Damage Insurance can cover you for theft, loss and damage of your rental car with an MSRP of up to $85,000 for rentals of 48 days or less when you fully charge your rental to your Amex Platinum Card. To take advantage of this protection, simply decline the Collision Damage Waiver (CDW), Loss Damage Waiver (LDW) or similar option offered by the car rental agency*. When driving into or parking at Toronto’s Pearson Airport, cardholders will appreciate complimentary valet service at Express and Daily Parking, plus 15% off there as well.

Other exclusive benefits of the Platinum Amex are its $200 annual travel credit, status at global hotel brands, 50,000-point introductory bonus, unlimited and free access to 1200+ worldwide airport lounges, and an extensive suite of travel insurance.

*For full details, current product information and Terms and Conditions, click the Apply now link. Conditions apply.

Best No Annual Fee Credit Card

If you’re looking for a credit card that includes car rental insurance and has no annual fee, then you should consider the Rogers World Elite Mastercard. Unlike the other cards mentioned in this article, it only covers up to 31 days of travel. But it does cover up to $65,000 in damages, which is comparable to many other car rental insurance policies tied to an annual fee. The Rogers World Elite also has the added benefit of being one of the few credit cards in Canada that waives or makes up for foreign transaction fees. Those are some great features for a card with no annual fee.

*This post was not sponsored. The views and opinions expressed in this review are purely my own.

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