Frequently Asked Questions

Insurance On Leases

Can I insure my leased vehicle for more than $1,000,000 for Third Party Liability Coverage?

Yes. $1,000,000 third party liability insurance is the minimum requirement to meet the terms of your vehicle lease agreement. You are always welcome to increase Third Party Liability coverage to meet your additional needs.

Can I reduce the amount of my collision & comprehensive deductibles from $1,000?

Yes. Lower deductibles are acceptable, however, $1,000 is the maximum deductible allowed.

Who is OPTA?

We have partnered with OPTA, a professional firm that specializes in Insurance Tracking. They will confirm that your vehicle is adequately insured and inform you if there is a problem. All other aspects of your lease account are handled directly by Honda Financial Services.

Does HFS require a copy of my insurance policy?

Yes. HFS requires a copy of your full insurance policy including endorsements and coverage limits every year upon renewal.

How can I send a copy of my insurance to OPTA?

When you change insurance carriers or renew your policy, either you or your agent must send a copy of the new policy to OPTA by regular mail, fax or e-mail to the following address

Honda Canada Finance Inc.
600 - 175 Commerce Valley Dr. W.
Thornhill, On
L3T 7P6
Phone: 1-855-218-0784
Fax: 905-882-8804