Rental Vehicles & Insurance

Collision or Loss Damage Waiver – this is protection offered by the rental agencies that is a per day fee designed to take the burden off the renter should damage, vandalism or theft occur. It varies by rental car agency but it is usually in the range of $15 per day.

If you are using your own personal credit card to rent a vehicle, you are responsible to verify your coverage.

What you should know if loss/damage occurs to the rental vehicle:

If you purchased the insurance (CDW) from the Rental Agency – Know what their claims procedure is and be sure to have the contact numbers available.

If you used your U of W Scotiabank Travel Visa Credit Card - Claims must be reported within 48 hours of the loss/damage occurring by calling toll free (800) 847-2911 if you are in Canada or the United States or call collect (410) 581-9994.

Please note: As the renter, you will be responsible to settle any claims with the credit card company.

In cases of accidents or claims, please notify the Insurance & Risk Management Officer, Julie Laforet at (519) 253-3000 ext: 2080 or

What happens if your personal property (i.e. laptop, camera, luggage) is stolen or damaged while in the rental vehicle?

Personal property damaged or stolen from a rental vehicle is not covered. You should check with your personal insurance advisor to ensure that you have adequate personal property insurance.

Can I allow someone else to drive the Rental Vehicle?

Rental agreements vary by rental agencies. You must advise the Rental Agency of any potential drivers and have them included on the Rental Agreement. Be sure to confirm any requirements pertaining to any additional drivers (i.e. minimum age requirement 25 years, etc.).

Using Your Individual U of W Scotia Bank Travel Visa Credit Card

Collision/Loss Damage Insurance

When renting a vehicle in Ontario and using your Scotiabank Travel Visa Card, a Cardholder may decline the Rental Agency’s collision damage waiver (CDW) only if you strictly adhere to the following:

Only the Cardholder may rent a vehicle and decline the Rental Agency’s collision damage waiver (CDW) or an equivalent coverage offering;

  • The Cardholder must be in the rental vehicle at all times;
  • Your Canadian Dollar Scotiabank Commercial card must be in good standing;
  • You must initiate and complete the entire rental transaction with the same Canadian Dollar Scotiabank Commercial card;
  • The full cost of the rental must be charged to Your Canadian Dollar Scotiabank Commercial card to activate coverage;
  • Coverage is limited to one rental vehicle at a time, i.e. if during the same period there is more than one vehicle rented by the Cardholder, only the first rental will be eligible for these benefits;
  • The length of time You rent the same vehicle or vehicles must not exceed 48 consecutive days;
  • Coverage is limited to loss/damage to, or theft of a rental vehicle only up the rental vehicle’s actual cash value plus valid Loss of Use charges;
  • The Cardholder must decline on the rental contract the CDW option or its equivalent offered by the Rental Agency;
  • Most vehicles are covered by the Policy; however, some such as pick-up trucks are not. Please review the list of vehicles excluded from this coverage.
  • The VISA Collision/Loss Damage Insurance Program will provide coverage to Cardholders when the full cost of each rental of a vehicles is paid for using Your Canadian Dollar Scotiabank commercial card;
  • Coverage is available except where prohibited by law;
  • Claims must be reported within 48 hours of the loss/damage occurring by calling (800) 847-2911 (when in Canada or the United States) or you can call collect (410) 581-9994.
  • Refer to the VISA Auto Rental Collision/Loss Damage Insurance for additional clarifications.

If you are renting a vehicle, outside of Ontario you are required to purchase the Collision Damage Waiver (CDW) insurance available from the rental agency. Each province and Country have different insurance requirements and laws.

Helpful Tips

Check the vehicle carefully for scratches or dents before and after you drive the vehicle. Be sure to point out where the scratches or dents are located to a Rental Agency representative.