Home Share Bulletin - September 2016 View online
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Home Sharing/Short-term RentalsPremier launches new endorsement allowing Home sharing/Short-term rentals

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NEW product - Premier broadens offering to cover Homeowners risks with short term rentals via AIRBNB and Homeaway and similar facilitators.  In response, to the growing request from our broker force for sharing economy risks, Premier has broadened our personal lines programs to now allow home sharing arrangements.  Visit to learn more...
Target Risks:

• Homes and condos
• Renting out rooms or entire home
• Daily and weekly rentals permitted
• Bookings through sharing economy websites
• Short-term seasonal rentals accepted

Features:

• COMP/Replacement cost available
• Home share endorsement specifically granting permission
• Damage caused by tenants covered - subject to deductible
• Theft by tenants covered - subject to deductible
• Optional rental income coverage
• Premium financing available

We recently announced the launch of our ridesharing insurance for Uber. The policy, effective July 7, is already providing protection for all Uber drivers and passengers in Ontario. 
To help you get more familiar with the coverage, here is a reminder of the key features and benefits. We have also attached an updated FAQ that includes answers to some additional questions you have asked. 
What you need to know:
1. Policy: The Intact commercial policy provides coverage from the moment drivers make themselves available to accept a ride request, to the moment passengers exit the vehicle.
2. Coverage: Commercial coverage includes Third Party Liability, Standard Accident Benefits and Comprehensive and Collision coverage with a $1,000 deductible (for drivers who hold Comprehensive and Collision coverage on their personal auto policy). It does not provide any optional coverages, regardless of what is included on the customer’s personal auto policy, other than Comprehensive and Collision as included in the commercial policy noted above.
3. AB claims: The Intact commercial policy is intended to provide primary coverage and respond to any claim for standard accident benefits by a rideshare driver in priority to any other policy which they are insured on. The commercial policy does not provide coverage for optional accident benefits.
For Intact Insurance, Novex and Jevco auto customers, drivers may choose to claim on other policies where they could be eligible for certain accident benefits, including optional accident benefits.
For rideshare drivers with policies with another insurer, coverage for optional accident benefits should be discussed directly with this provider.
4. Interim Product: In our communications we refer to the coverage as an interim product, in that it is based on what has currently been approved by the regulator, but is not necessarily the final product structure. As the government looks to introduce legislation related to the sharing economy, this product may evolve.
5. Personal Use: When Uber drivers use their vehicle for personal use, Intact Insurance, Novex and Jevco customers are protected as usual under their personal auto insurance policy at no additional cost.
6. Process: For Intact Insurance, Novex or Jevco customers, there is no change to their personal auto policy. You must simply add a note to their policy file in Savers Plus or Contact. Do not change the vehicle use, this should remain as “personal” and only kilometres driven for personal use should be included. 
7. Resources: Visit our microsite intactmyshare.com  for more information and all the latest materials including FAQ, Fact Sheet and process guide.

​As you know, Uber recently partnered with an insurer to provide commercial auto coverage for all Uber drivers and passengers in Ontario. Following review of the policy information, we’re pleased to announce that we will insure personal auto customers who drive for Uber. Uber’s commercial auto coverage goes into effect from the time a driver turns on Uber’s app and becomes available to accept a ride request, to the time passengers exit the vehicle. Outside of these times, the driver will be covered under their Gore Mutual auto insurance policy. To receive personal auto insurance from Gore Mutual, we’ll require Uber drivers to disclose their involvement with the company and provide proof of their commercial auto coverage (like a policy number). Should other ridesharing companies create similar solutions for their drivers, we’re happy to accept them as personal auto insurance customers.

​Tesla, the electric car company that’s among the leaders in the development of autonomous cars, is now getting into the insurance business.

Tesla is starting new insurance programs in Australia and Hong Kong, according to Electrek.com. the program, called InsureMyTesla, offers customized insurance plans for Tesla automobiles underwritten by partner companies.

Tesla is partnering with QBE Insurance in Australia and AXA General Insurance in Hong Kong, according to Electrek.com.

The Tesla insurance plans feature coverage including:

• New vehicle replacement of same model and series for vehicles less than 36 months from their first registration
• Coverage for damage to the Tesla wall connector
• Choice of authorized Tesla repair professional
• Any driver policy

Some Australian owners report they’ve been offered plans starting at $1,200 per year (or about US $900), Electrek reported.