If you enter into a long-term lease contract with purchase option, the merchant can require that you get insurance. The merchant may not, however, require that you purchase this insurance from a specific insurer.
Choice of insurance
When merchants require insurance, they must inform you that:
- you can purchase this insurance from the insurer or representative of your choice;
- you can provide insurance that you already hold.
The contract must then also include a mandatory reference to the insurance (41.0 KB).
A merchant may, on reasonable grounds, refuse the insurance you have chosen or that you already hold.
Last update : October 23, 2020
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The information contained on this page is presented in simple terms to make it easier to understand. It does not replace the texts of the laws and regulations.