Loss of Use Endorsement
Loss of Use (referred to as OEF20 by brokers) is an endorsement that covers you for the costs of a rental vehicle during a period where your usual vehicle is out of commission for repairs. OEF20 is relatively inexpensive, and it certainly beats out having to find your own form of transportation while your car is in the shop.
Limited Waiver of Depreciation Endorsement
Sometimes referred to as OPCF43, the Limited Waiver of Depreciation endorsement can waive depreciation on new cars that you buy and can be active for anywhere from 24 to 48 months. Should your new car be involved in a wreck only a couple years after its purchase, you have the choice of replacing it with a brand new vehicle or receiving the exact value of your previous car for when you purchased it and not the reduced cost. This is a good addition to your current Oshawa auto insurance, since it can aid you in making the most of the value that you would get in claim situations for new cars. You must, however, show your insurance company purchase proof or a bill of sale to purchase this endorsement.
Liability for Damages to Non-Owned Automobiles Endorsement
This endorsement is good for anyone who travels and makes use of rental vehicles. It can replace having to pay rental agencies insurance rates – which can be issued per day – and ultimately saves you some money. This endorsement is applicable for if you drive in the United States or within Canada. There are some restrictions to this endorsement however, so ensure that you discuss your travel plans with your insurance broker beforehand.
At McDougall Insurance, we want to help you look out for your vehicle. It’s important to you! For Oshawa residents, auto insurance should be a breeze. Get free, no-obligation Oshawa auto insurance quote swith us today.