Automatic Renewal, Warranty Statements, Disclosures, and Premium Financing Agreement

Important information about your Payments and Automatic Renewal

Payments will be withdrawn immediately upon purchase, regardless of the effective date of your Policy. When you’ve elected for financing, subsequent monthly installment payments will be withdrawn on the payment date selected by the customer.  Customers that have chosen our single payment plan will be charged 15 days in advance of the effective date. Your encrypted payment information will be securely stored by Stripe, and APOLLO will notify you by email when it is time to renew.

With today’s purchase, you qualify and are enrolled in our automatic renewal process. This ensures that you’ll have the peace of mind of knowing that you won’t miss your tenants insurance renewal ever again! By purchasing this insurance from APOLLO, you acknowledge that the policy will be automatically renewed before expiration, and the renewal premium will be charged to your registered payment method. For those that are on monthly installment pay, your first payment of the renewal will be charged on the date previously selected by the customer. For those that are on single pay ( annual), your renewal policy, you will be charged 15 days in advance of the effective date.

If first payments for renewal are not received:

1. for single pay (annual) customers, we will regularly attempt to collect payment up until 10 days after the renewal effective date. At which point, if no payment is received, the policy will be lapsed effective the renewal date and the coverages afforded by the Policy will cease; and

2. for monthly installment pay customers, we will regularly attempt to collect the first payment until 21 days after the first payment date of the renewal. At which point, if no payment is received, the policy will be canceled effective immediately due to non-payment and the coverages afforded by the Policy will cease.

You have the option to cancel automatic renewal by accessing the online platform or notifying us at any time at a minimum of 15 days before the expiration date. If there are any changes to the Policy terms and conditions, you will be receiving notification in advance of the expiry. Renewal terms will be accessible to the customer 30 days in advance of the renewal date on the APOLLO Policy Portal.

IMPORTANT: You acknowledge that canceling the policy in advance of renewal, you WILL be subject to short-rate cancellation, minimum retained fees, and other terms and conditions detailed in your policy.

Warranty Statements

By purchasing this insurance, you confirm that the answers provided in this application or any other information provided in connection with the acquisition of this insurance, are correct to the best of your knowledge that you have not suppressed or misstated any material facts, and you agree that you are entering into a contract to bind coverage selected in this application. Such material facts may include, but are not limited to, whether you've had previous insurance claims or know of incidences or circumstances that will likely result in a claim.

By clicking to complete the purchase, the payment will be processed through the provided credit card for the annual or the monthly amount shown and policy documentation will be emailed to you instantly.

Privacy Disclosure and Consent

The undersigned authorized representative acknowledges that any personal information provided in connection with the insurance applied for, including but not limited to the information contained in this Application, has been collected in accordance with all applicable privacy legislation. The undersigned confirms that all necessary consents have been obtained for the collection, use, and disclosure of such information for the purposes of any investigation and inquiry in connection with this Application for insurance and, if applicable, investigating and settling claims, detecting and preventing fraud, and acting as required or authorized by law.

Compensation Disclosure

Your insurance broker is compensated by APOLLO on a commission basis only. The broker commission varies from 15% to 20% of the premium depending on the insurance product and insurer and does not include taxes or fees.

False Information

Any person who, knowingly and with intent to defraud any insurance company or other person, files an Application for insurance containing any false information, or conceals information concerning any fact material thereto for the purpose of misleading any insurance company or other person, commits a fraudulent insurance act which is a crime.

Declarations

The undersigned authorized representative of the Applicant:

1. declares, after inquiry, that the statements and representations set forth in this Application, and all materials submitted to or requested by the Insurer in conjunction with this Application, are true;

2. acknowledges that these statements, representations, and materials are relied on by the Insurer and that they shall be deemed material to the acceptance of the risk assumed by the Insurer under the insurance applied for, should the insurance be affected;

3. agrees that if the information supplied in connection with this Application changes between the date of this Application and the effective date of any insurance effected pursuant to this Application, the undersigned will immediately notify the Insurer of such changes, and the Insurer may withdraw or modify any outstanding indications, quotations and/or authorization or agreement to affect the insurance;

4. agrees that coverage will be voided and/or claims will be denied if the Applicant fails to divulge to APOLLO material information, including but not limited to: five or more roommates living at the location; the Applicant having had insurance coverage canceled in the past 5 years; the Applicant owning and including in the household, the following breed of dogs: American Staffordshire Terriers, American Pit Bull Terriers, or Staffordshire Bull Terriers, all commonly known as Pit Bulls, Doberman Pinschers, Rottweilers, Chow Chows, Presa Canarlos, Wolf Hybrids, Rhodesian Ridgeback, Japanese Akita, Cane Corso, Tosa, Dogo Argentinos, Fila Brasileiros, German Shepherds, Huskies, Boxer, Bullmastiffs, Labrador Retrievers and Guard Dogs; and the Applicant conducts a business out of the location;

5. agrees the burden of proof regarding the ownership and valuation of personal property in a claim rest solely upon the applicant and the absence of such proof may impact their claim; and

6. declares that the Applicant has reviewed the insurance purchased from APOLLO, including but not limited to personal property limits and special property limits, to ensure that they are reasonably protected and meet any contractual obligations if applicable;

It is agreed that all materials submitted to or requested by the Insurer in conjunction with this Application are hereby incorporated by reference into this Application and made a part hereof. It is further agreed that this Application and all materials submitted to or requested by the Insurer in conjunction with this Application are the basis of and are deemed attached to and incorporated into any policy effected pursuant to this Application.

Known Claims or Circumstances

It is understood and agreed by the Applicant and/or Broker that if knowledge of any such facts, circumstances or situations exist that are material to the insurance provided, whether or not disclosed, any claim or action subsequently arising or developing therefrom shall be excluded from coverage under this policy or any policy issued by APOLLO on behalf of certain underwriters and/or insurance companies. It is further understood and agreed by the Applicant and/or Broker that if knowledge of any such facts, circumstances or situations exist that will, directly or indirectly, arise in a claim, any claim or action subsequently arising or developing therefrom shall be excluded and the Policy may be deemed void at APOLLO’s discretion.

Electronic Signature

You now have the option to sign this form electronically. If you elect to do so, you hereby consent and agree that your use of keypad, mouse or device to complete and submit credit card information constitutes your signature, acceptance and agreement to the Declarations and Signature section immediately above as if actually signed by you in writing and has the same force and effect as a signature affixed by hand.

Fee Disclosure

The overarching spirit of this provision is that brokerages must proactively and prominently make customers aware in writing of any fees in excess of premiums, along with the reason for collecting such fees, and that the consumer must agree to these fees before they are liable to pay. Examples of such fees include brokerage, administration, and service fees (similar to those routinely charged on commercial or specialty policies) as well as financing fees. As per provincial and state law, I understand that there are fees included in the total quote for the processing of this insurance transaction, software costs, convenience, underwriting and other policy and administrative fees. I agree to pay these fees in addition to the costs of the insurance and any commissions included. These fees are subject to service taxes required to comply with provincial and state regulation.

All fees are fully retained by APOLLO in the event of cancellation regardless of the reason for cancellation.

Financing Terms and Conditions

Agreement to Payment

By way of the payment by Apollo Insurance Solutions Ltd. (will be hereby referred to as APOLLO) of the Amount Financed and subject to the terms and conditions set out in this Agreement, the Applicant agrees to pay APOLLO the payments in accordance with the terms of this Agreement.

Security Interest

The Applicant assigns and grants to APOLLO a security interest in the Policies, including all gross unearned premiums plus applicable taxes that may accrue by reason of the cancellation or termination of the Policies under the terms thereof for any reason whatsoever, dividend payments or other income arising under the Policies, and loss payments which reduce unearned premium, subject to any mortgagee or loss payee interest.

If any premiums related to any financed policy could be fully earned in the event of a loss, APOLLO shall be named a loss-payee with respect to the policy.

Power of Attorney

The Applicant hereby irrevocably appoints APOLLO (and any of APOLLO's employees or agents) as attorney-in-fact and agent with full power of substitution and full authority, to (i) cancel the Policies in accordance with the provisions herein, (ii) receive all sums assigned to APOLLO, and (iii) execute and deliver on behalf of the Applicant all documents, forms and notices relating to the Policies in furtherance of this Agreement.

The Applicant agrees that this right to cancel will terminate only after all of Insured's indebtedness under this Agreement is paid in full. This appointment is by onerous title and is coupled with an interest, and the Applicant hereby represents and warrants that it has the authority to appoint APOLLO as such attorney-in-fact and agent on behalf of each of the Applicant's affiliates.

The Applicant has a right not to appoint APOLLO as Power of Attorney. In that case, Applicant will not be eligible for monthly payment subscription with APOLLO and the Applicant has to make full payment at the time of policy inception.

The Applicant can revoke APOLLO as Power of Attorney at any time with 7 days - written notification. Outstanding premium for rest of the policy term will be due on the day of written notification.

IMPORTANT: In the event of missed payments and/or failed payment attempts, through the Power of Attorney, APOLLO has the authorization to cancel the insurance policy(ies) on the Applicant's behalf. At which point, the Applicant's insurance coverage and ability to make claims under the insurance policy will be impacted.

Pre Payment

The Applicant may put an initial deposit on its loan in full or in part and receive a refund of the unearned finance charge as calculated by APOLLO. If there is an outstanding credit balance owing to the Applicant of $25.00 or less, APOLLO shall not be required to refund it.

Late & Returned Payments

The Applicant agrees upon default in payment of any installment to pay a delinquency charge of the greater of:

1. 5% of the delinquent payment amount;

2. a $25 fee per missed installment;

3. Once regular payment attempt is unsuccessful, the Applicant will get two more payment attempts at 3 business days interval each to clear the outstanding balance;

4. If all three payment attempts are failed, APOLLO will provide 15 days' notice to the client to clear the outstanding balance; and

5. If the payment is not cleared within 15 days and/or continues to fail on day 15th, APOLLO will cancel the policy on the Applicant's behalf.

IMPORTANT: As a result of cancellation of the insurance policy, the Applicant's ability to make claims under their insurance coverage will be terminated. With exception to the notifications of missed payments described above, APOLLO will NOT be sending the Applicant a registered letter prior to cancellation.

IMPORTANT: It is the Applicant's responsibility to ensure that contact information is up to date with APOLLO. Out of date contact information and/or missed notifications does NOT waive the Applicant's obligations under this agreement nor APOLLO's rights under this agreement.

Assignment

All rights given to APOLLO shall benefit its successors and assignees, and APOLLO may transfer its rights under this Agreement without Applicant's consent. Applicant shall not assign this Agreement or Policies without Applicant's written consent, except for adding mortgagees or loss payees.

Default & Cancellation

Applicant is in default under this Agreement if

1. a payment is not received by APOLLO when due,

2. a proceeding in bankruptcy, receivership,insolvency or other proceeding is instituted by or against Applicant,

3. any representation or warranty of Applicant or Broker contained herein is not true and accurate or misleading in any respect, or

4. Applicant fails to comply with any of the terms of this or any other Agreement with APOLLO.

At the time of default, all amounts due under this Agreement become immediately due and payable and the Applicant is liable for all amount, and interest shall accrue thereon at the interest rate of 18.00% per annum, calculated monthly, on the unpaid balance as of the scheduled due date of the first delinquent payment leading to termination of the Policies until the date of payment in full of such outstanding balance.

Upon default, APOLLO has no further obligation under this Agreement or by applicable law. If a default by the Applicant results in cancellation of any of the Policies, the Applicant agrees to pay to APOLLO a Cancellation Charge in each case not to exceed $100.00. If cancellation occurs, the Insured agrees to pay APOLLO interest on the balance due at the contract rate, or at the maximum lawful rate, until the balance is paid in full.

APOLLO reserves the right to cancel the policy when the Applicant is in default at any time and without any further notification.

Rights After Policies Canceled

After any of the Policies are canceled, whether by APOLLO, Insured, or the insurance companies, APOLLO has the right to receive all unearned premiums and other funds assigned to APOLLO as security herein and to apply them to Insured's unpaid balance under this Agreement or any other agreement between the Insured and APOLLO. Receipt of unearned premiums does not constitute payment of installments to APOLLO, in full or in part. If the amount received is more than the amount owed by Insured, any excess amount will be refunded to Insured; The minimum refund is $25.00. If the amount received is less than the amount owed by Insured, the Insured shall be responsible for the discrepancy. Insured agrees that the insurance companies may rely exclusively on APOLLO's representations regarding the Policies.

Reinstatement

Applicant agrees that any payments made and accepted after a Notice of Cancellation has been sent to insurers shall not constitute reinstatement or obligate APOLLO to request reinstatement of such Policies, and Insured acknowledges that APOLLO has no authority to reinstate coverage, and such payments may be applied to Insured's indebtedness hereunder. APOLLO may request insurers to reinstate the Policies if all outstanding payments are brought up to date.

Collection Costs

APOLLO may take all necessary actions to enforce payment of any deficiency and debt generally of Insured. Receipt and acceptance by APOLLO of any refund of unearned premium or any other amount shall be without prejudice to the right of APOLLO to proceed with legal action against Insured to recover payment of any amount not satisfied. Insured agrees to pay attorney fees, court costs and other collection costs to APOLLO if a balance is referred to an attorney or collection agent who is not a salaried employee of APOLLO to collect money Insured owes.

Authority

Insured acknowledges that: a) it has chosen to do business with Broker and the insurers, and that the insolvency, fraud, defalcation or other action or failure by any of them shall not relieve or diminish Insured's obligations to APOLLO; b) APOLLO is not the assignee of the obligations of the insurers, and APOLLO has no liability whatsoever in respect of the Policies; and c) Broker has the authority to bind Insured in the event of changes or amendments to this Agreement, including the addition of additional premiums and renewals, and APOLLO is under no obligation to obtain the signature of Insured.

Additional Premiums

The funds paid by APOLLO shall be applied only for the premiums due at the time the Policies are issued. Insured shall pay to the insurer(s) any additional premiums or any other sums that become due. Insured or Broker may request that APOLLO finance additional policies and/or additional premium during the term of this Agreement, and if the Insurer agrees and issues a revised Notice of Acceptance, this Agreement shall be deemed amended accordingly. Should APOLLO agree to any further extensions of credit, then a) this Agreement and other loan documents identified shall be deemed to comprise a single and indivisible loan transaction, b) any default under any component of the transaction shall constitute a default under the entire transaction, and c) any unearned premium relating to any component of the transaction may be collected and applied by APOLLO to the entire loan transaction balance. APOLLO may charge $50 for each endorsement or other change request resulting in the terms of this Agreement being modified.

Financing on Automatic Renewal

When automatic renewal is available for your Insurance Policy, the following provisions shall apply: a) this Agreement shall provide continuous financing for insurance premiums and is an ongoing contract which may be, at APOLLO's option, renewed or extended at the request of Insured or Broker; b) this Agreement may be renewed annually for the policy terms and premium amounts identified in a renewal executed by Insured and/or Broker and received by APOLLO; c) each term and condition of this Agreement shall remain in full force and effect during any renewal term notwithstanding any change of Apollo Insurance Solutions Ltd., coverage, premium or payment schedule; d) a down payment, if applicable and as stated herein shall be paid to APOLLO by Insured and shall be maintained by Insured annually in an amount equal in proportion to that in the original term, and Insured authorizes APOLLO to:

(i) continue pre-authorized withdrawals until written notice of cancellation or renewal is received by APOLLO and

(ii) credit any excess or collect any additional down payment from the Insured;

e) APOLLO may decline any extension of credit or renewal of this Agreement in its sole and absolute discretion; f) financing by APOLLO for any renewal term will be calculated at current rates and/or fees and can be changed without Insured approval; and g) any updates to this financing agreement will be made available on the Apollo online platform.

Governing Law

To the maximum extent permitted by law, this Agreement shall be deemed made in and governed by the laws applicable in the Province of Ontario, and the parties hereto irrevocably attorn to the non-exclusive jurisdiction of the courts of such Province in respect of matters arising from this Agreement.

Liability

Broker and Insured hereby release, remise and forever discharge APOLLO of and from any and all actions, causes of action, suits, claims, demands and liabilities whatsoever which either of them hereinafter can, shall or may have for or by reason of or in any way arising out of any cancellation or termination of any Policies by any insurer or Apollo Insurance Solutions Ltd. on behalf of underwriters and Insurers.

Agreement

This Agreement may be delivered by fax, email, mail, or online platform. If any part of this Agreement is determined to be invalid or unenforceable, the remaining provisions of the Agreement shall continue in full force and effect. This Agreement constitutes the entire agreement between APOLLO and Insured with respect to the matters set out herein and may not be modified, except as agreed upon in writing by APOLLO and Insured. APOLLO's acceptance of late or partial payments shall not be deemed a waiver by APOLLO of any other provisions of this Agreement.