Ontario Car Insurance Endorsements

The following endorsements can help you customize your car insurance, so you can get the coverage you need to feel confident behind the wheel.

The Removing Depreciation Deduction endorsement (OPCF 43) can be added to your car insurance policy to help maintain the purchase price of your vehicle after you drive it off the lot. We call this the Limited Waiver of Depreciation endorsement - and having it on your policy allows you to receive the purchase price of your vehicle¹ if your car is stolen or deemed a total loss.²

Typically, if your vehicle is stolen or written off due to a covered claim, your insurance company would cover the purchase price of your vehicle, minus your deductible and depreciation. Depreciation is the loss of value over time due to things like age, and regular wear and tear on your car. However, if you have the Limited Waiver of Depreciation endorsement on your policy, your insurance company could cover the purchase price of your vehicle, minus your deductible – without removing an amount for depreciation. This makes the Limited Waiver of Depreciation endorsement an ideal option for brand new cars. As your car ages, you may want to review your policy to ensure it still suits your needs.

Coverage for Transportation Replacement (OPCF 20) can be added to your car insurance policy to complement your Comprehensive or Collision coverage. This endorsement is commonly referred to as Loss of Use Coverage - and it will cover the cost of a rental car or other transportation (like public transit, or a rideshare) while your vehicle is being repaired due to a covered claim. Loss of Use Coverage applies until your vehicle is repaired, you're offered a total loss settlement, or you reach your coverage limit – whichever happens first.

If you frequently find yourself renting a car, you may want to add the Liability for Damage to Non-Owned Automobiles (OPCF 27) endorsement to your insurance policy. It provides physical damage coverage if you get into an accident while driving a rental car or other non-owned vehicles. Should you happen to get into an accident while driving a rental car, you'll be covered for physical damage repairs following a covered claim -minus your deductible.

Our Grand Touring Solution® offers the benefits of Coverage for Transportation Replacement (OPCF 20) and Liability for Damage to Non-Owned Automobiles (OPCF 27) coverage into one package, exclusively for TD Insurance customers. In addition to having a higher coverage limit for the use of a rental vehicle should your car need to be repaired or replaced due to a covered claim, your rental car will also be insured against physical damage as outlined in your policy.  That coverage extends to anyone insured under your policy, anywhere in Canada or the continental U.S. Contact a TD Insurance advisor to learn more.