Rental Insurance
Insurance is one way of managing the risks related to accidents and disasters that can and do happen. If you aren’t adequately insured, then it could leave you or your organization in financial ruin. When you buy insurance, you transfer the cost of a potential loss to the insurance company in exchange for a fee, known as the premium.
Why do I need liability insurance?
If you are hosting an event at Fisher Heights Community Place, insurance is mandatory. Because of your operations, or actions, you are open for possible suit from third parties. You may not be liable, but you will need to be defended in court. A liability policy pays for this defence as well as any costs found against you. Liability insurance is designed to protect against claims of bodily injury or property damage, person injury liability, medical payments and tenant’s legal liability.
Streamlined Process: renters will work directly with the insurer to get a quote.
- Submit your initial rental request using our on-line reservation booking form.
- Once your rental permit is issued, we will direct renters to the Instant Risk Coverage (IRC) website and portal to purchase insurance.
- Renters will create a profile, answer a questionnaire, and receive an instant quote. They can then purchase coverage via credit card or seek another quote elsewhere.
- Renters are always welcome to shop around and seek insurance elsewhere.
- Automated Insurance Certificates: if the renter buys insurance through IRC, the certificate will be automatically emailed to all parties (the renter, the community partner, and the City).
- Streamlined Payment: as the renter will be paying the insurer directly through the portal, there will be no further need for community partners to process insurance premium payments, and forward cheques or summaries of insurance to the City each quarter.
Instant Risk Coverage (IRC) Insurance Portal
City of Ottawa Insurance…
The insurance premium is dependent on :
- Nature of the event and its activities (passive/low risk, moderate risk, physical/high risk)
- Expected number of attendees
- Event frequency (one-off or recurring event)
- Does the event include alcohol?
- Does the event involve vendors?
There is a $1,500.00 deductible on each claim.
Are bouncy castles ever allowed? Bouncy castles are allowed outside only if they are set up outside, supervised and removed by a professional company. That company must provide proof of insurance for a minimum of $2M with the event organizer (rental client) and City of Ottawa listed as ‘Additional Insured’.
The Bottom Line…
If something is damaged or disappears as a result of your event then the permit holder or their Insurance Company is expected to pay the full cost of repairs or replacement.
If someone is injured as a result of your event then the permit holder or their insurance company is expected to pay the full cost of any claims and/or lawsuits.