The Financial Institutions Act requires that the information contained in this Disclosure Notice be provided to a customer in writing prior to the customer entering a financial transaction.
RE: Application for Insurance for Commercial General Liabilty? Program, Oasis Outdoor Adventure & Sports Insurance Solutions Inc.
RE: Application for Insurance for Equipment? Program, Oasis Outdoor Adventure & Sports Insurance Solutions Inc.
RE: Application for Insurance for Property? Program, Oasis Outdoor Adventure & Sports Insurance Solutions Inc.
I have read the above terms and conditions and agree to proceed with the application.
If you have replacement cost insurance, your claim will cover the lesser cost of restoring items to their original condition or buying new items of like kind and quality to the ones lost; there will be no deduction for depreciation.
This means, if your 2-year old piece of machinery is totally damaged in a fire, the claims payment you receive will allow you to buy a machine with features as similar as possible to the destroyed model. Your policy limit on the machine must represent the cost of a new machine of similar kind and quality.
Oasis Insurance offers 3 years of replacement cost on portable equipment such as groomers, tractors from the date you purchase it new. This means you must keep your limit of insurance on that item at the new cost for the first 3 years and you will receive a replacement cost settlement on your claim.
If you have an actual cash value policy, your claims payment will be based on the cost of buying items in similar condition to the ones you lost; deprecation will be factored into your payment. For example, if your six-year-old tractor is damaged in a fire, we will determine the current value of that machine in its used condition and provide you with that amount as a payment.
OASIS Outdoor Adventure & Sport Insurance Solutions Inc. offers a national general liability program for accredited ATV, Off Road Trail Bikes and Snowmobile Safety Instructors while providing their courses.
Our specialties include, working with non-profit clubs, trail related exposures, outdoor adventure risks, large commercial, as well as standard line products.
For clients who own pedal bikes, ATV’s, UTV’s Dirt Bikes or Snowmobiles, go to www.insuretoys.ca to find a local broker.