Vehicle protection products address specific risks and help manage the costs of unforeseen events associated with vehicle ownership.
While some vehicle protection products sold are considered under property insurance, these three products are considered under auto insurance.
These are provided for tire and rim replacements and excludes warranties provided by the motor vehicle manufacturer for tires and rims included in the vehicle’s assembly.
These promise to pay for some or all of the cost of a windshield replacement.
These promise to make a payment if an anti-theft device fails to prevent theft and the vehicle is stolen and/or not recovered. This includes theft-deterrent etching or tagging, and catalytic converter anti-theft devices.
The Insurance Act allows for a special license called a “restricted insurance agent’s certificate of authority.”
This license authorizes a holder, mainly businesses, to sell only specific classes or types of insurance listed on their license, as specified by the Minister. Their employees can sell that insurance, but only under the business’s license, and only within those limits.
For example, a car dealership can sell things like loan or vehicle insurance, but only if it has this license with those types of insurance listed.
Some vehicle protection products, like coverage just for your car’s windshield, may be available for purchase through your broker or agent, or when you buy your car. Talk to your insurance representative to make sure you have the coverage right for your needs.
Other types of vehicle protection products may only be available at the time you purchase your vehicle, and only through certain authorized agents with the “restricted insurance agent’s certificate of authority.”