Insurance

Insurance

How does Modo’s insurance work?

We know accidents happen. That’s why every Modo driver gets full collision and comprehensive coverage. Modo’s fleet is insured up to $5 million under a Third-Party Liability policy from ICBC. And since we have a fleet plan through ICBC, we carry the insurance, not you.

In the event of damage to the Modo vehicle during your booking, qualifying Modo members pay a damage fee up to the first $1,000, depending on the extent of the damage. (Yes, that includes at-fault accidents, hit and run, vandalism and damage to the tires.) Individual members who have been in an accident with a cost to Modo that exceeded $1,000 are required to make a damage deposit of $1,500.  That deposit will be returned after two years of damage-free driving.

Do I have to pay for damage that occurs during my booking?

In the event of damage to the Modo vehicle during your booking qualifying, Modo members pay a damage fee up to the first $1,000, depending on the extent of the damage. (Yes, that includes at-fault accidents, hit and runs, vandalism and damage to the tires.) Green Members, members using a Member Eligibility Declaration form to demonstrate eligibility, and members who have been in an accident with a cost to Modo that exceeded $1,000 during the preceding two years, pay a damage fee up to the first $2,500.

Individual members who have been in an accident with a cost to Modo that exceeded $1,000 are required to make a damage deposit of $1,500.  That deposit will be returned after two years of damage-free driving.

Can I avoid paying the damage fee?

There are two options available for most individual members to avoid paying the damage fee:

Modo Damage Pool

Enrolling in the Modo Damage Pool reduces your damage fee to $0 should damage occur during your booking, including at-fault accidents. The Damage Pool is optional, and covers all Modo vehicles. Members must be enrolled in the Damage Pool prior to an accident.

The Damage Pool costs $50 annually (non-refundable) and expires after being used in the event of an accident. If you are in an accident whose cost to Modo was less than $1,000, then you can rejoin the Damage Pool for $50. If the cost to Modo was greater than $1,000, then you must wait two years before rejoining.

Business accounts, Green Members, members using a Member Eligibility Declaration form to demonstrate eligibility, and members who have been in an accident with a cost to Modo that exceeded $1,000 during the preceding two years, are not eligible to join the Damage Pool.

How to join: Login to your account at bookit.modo.coop and click My Account>Damage Pool/Coverage to sign up.

Collision Loss Damage Insurance (CLDI)

Reduce your damage fee to $0 by paying your Modo statements and/or invoices with a credit card that offers Collision Loss Damage Insurance (CLDI). The cost of damages is covered by the insurer. Please check with your credit card company if you qualify. CLDI does not cover trucks or cargo vans.

Please note: Your credit card must be set up for automatic payments and you are required to decline Modo’s insurance prior to your bookings. Individual members choose insurance options when signing up online and can adjust them under their Account Settings at their convenience.

Modo Co-operative
Vancouver604.685.1393
Victoria250.995.0265
Nanaimo250.741.4141
Kelowna250.469.6617
Modo Co-operative
Vancouver604.685.1393
Victoria250.995.0265
Nanaimo250.741.4141
Kelowna250.469.6617
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