For the month of October, we will be exploring the topic of damage here on the blog. This week we’re talking about insurance!
Our carsharing service takes the hassle out of owning a vehicle. When you’re done with your booking, simply return the vehicle and walk away! We cover the cost of fuel, maintenance, and insurance!
But what happens if a vehicle is damaged during your booking?
There are three coverage options available to members, which can help reduce or remove your damage fee. These options include our Basic Coverage, Damage Pool and third-party Collision/Loss Damage Insurance options (CLDI).
All members are covered by Peg City Car Co-op with basic coverage of up to $1000 damage fee in the event of an at-fault collision and $4,800,000 Third Party Liability (TPL). This means in the event of an unfortunate incident causing at-fault damage to a Co-op vehicle during your booking, your damage fee is up to $1000. Personal Injury Protection (PIPP) coverage (bodily injury) also applies to drivers and passengers while they are occupying the vehicle in Manitoba.
If a Co-op vehicle is stolen during your booking, you could pay up to $1000, plus downtime at the regular hourly rates. Vehicle theft is easily preventable if you fob out properly – every time you stop and park – the vehicle cannot be stolen. Pretty neat, huh?
Members can join Peg City’s Damage Pool for $50/year. This coverage includes all aspects of Peg City Car Co-op’s basic insurance, plus you will not be required to pay the $1000 damage fee in the event that a Co-op vehicle is damaged during your booking. Instead, the money will come out of the pool! You can apply to re-join the damage pool if you are in an at-fault incident. The Damage Pool covers all drivers on the account.
Many credit cards now offer Collision/Loss Damage Insurance (CLDI) that includes carsharing. In the event of a collision, Peg City will provide all the necessary documents for to you to bring to your credit card provider, and they will reimburse you directly for the total cost of the damages. With VISA or MasterCard CLDI coverage, you would be fully covered by the credit card company for any damage to a Co-op vehicle. Your card may not cover certain vehicles (for example, pick-up trucks), so always check with your provider to find out what their restrictions are!
If you’re already a driver with Peg City, adding the Damage Pool or CLDI to your account is easy – simply log in, and click on Damage Coverage, found under the My Account tab. For more details take a look at our Member Manual.
Of course, we hope that there is never any reason to invoke your carsharing insurance, but we want to make sure our members know what their options are. If you have any questions, feel free to get in touch!