Restoring Coverage after Covid-19
The light at the end of this tunnel
After months of quarantine and isolation due to Covid-19, Ontario is slowly opening up once again. For many people, this may mean the ability to drive to work once more so it’s important to ensure your vehicle is legal to drive so you can get back on the road once again – you may need to restore coverage on your vehicle if you had requested it be suspended.
When Covid-19 hit Ontario was forced into quarantine which resulted in people suddenly being stuck at home, their living room becoming their office. Many insurance companies allowed auto policyholders to place their vehicle(s) on Comprehensive only coverage which meant the vehicle was no longer legal to drive but the coverage provided fire and theft coverage while the car was parked. Some companies offered discounts on premiums while restrictive measures were in place however, now the province is entering Stage 2, getting out and about is a possibility once again.
Before you drive it’s important to give your insurance broker a call to make sure your vehicle is legal to drive. Coverage will not change unless the policyholder advises their company of their intent so it’s up to you to be proactive. If your insurance company offered a discount during the pandemic, that may also be coming to an end so if you had requested assistance during quarantine your broker can update you on when the discounts may be expiring.
Suspended Coverage – what is it?
The OPCF 16 – Suspension of Coverage Endorsement – can be applied to your vehicle at your request. If your vehicle is leased or financed it’s important to check whether the company providing the service allows this endorsement as it removes the following coverages:
- Liability limit
- Accident Benefits
- Uninsured Automobile Coverage
- Direct Compensation – Property Damage
While your coverage is suspended your vehicle is not legal to drive which is why, if you requested this endorsement, it is important to get these coverages restored before driving your vehicle once again. Depending on the company you are insured through your request can either be completed by phone or by form.
If you have questions about your policy, or you can’t remember whether you requested your coverage be suspended, call and speak with your insurance broker as they will be able to advise you on aspects of your auto insurance policy.
As always if you are looking for more competitive insurance rates you call our brokerage for quotes – Call us today at 1-877-454-4476 to speak with a broker to see if we can find a better auto insurance solution for you.