Add-ons to your auto insurance policy can ensure best coverage

Posted in Home & Property Insurance, Personal Insurance Tips

Add-ons to your auto insurance policy can ensure best coverage

Not every driver is the same. You have unique needs, and your broker may recommend an OPCF add-on to your auto insurance policy to ensure your coverage is exactly what you need.

Exploring the Options for Comprehensive Car Insurance Coverage

Your auto policy can provide you coverage for collision, fire, theft and injury. It can also provide you with very specialized coverage depending on your needs.

An add on is an item included under the Ontario Policy Change Forms (OPCF), and they are numbered. Below are some examples of add ons that can be built-in to your auto insurance policy once we understand your unique situation.

OPCF #20 – Loss of Use

If you have an accident where you are at fault, your replacement vehicle costs will be covered by the insurance company.

OPCF #27 – Damage to Non-Owned Autos

This is coverage that allows your coverages and deductible to be transferred to a replacement vehicle anywhere in Canada or the US, for renting a vehicle. You would use this if you have had an accident and needed a rental car for the foreseeable future. It essentially transfers your coverages to your rental vehicle, so that you have the same coverages you are used to.

OPCF #43 – Waiver of Depreciation Coverage

This coverage can be put on a new vehicle (with less than 5,000 kms) and it stays or your policy usually for 24 months. If you have this coverage and your vehicle is totalled or stolen and it is not recovered, the insurance company gives you what you paid for the vehicle and not the depreciated value.

OPCF #35 – Emergency Roadside Assistance

This form covers you for the costs associated with rescuing you from an unexpected situation such as towing, getting your keys out of a locked vehicle, repairing flat tires and more.

CPP coverage – Claims Protection Program

To qualify, you must have a driving record of 6*, which means that you have been a licensed driver with a clean driving record for at least 6 years. This coverage protects your good driving record in the event of an at fault claim. The other benefits are that your driving record is not reduced upon your renewal due to the claim and your premium won’t increase as a result of the claim.

Look for Professional Advice

The offering and limitations of these policy additions can vary between the insurance companies, so it is important to talk with a broker.

Brokers understand all the OPCF’s that will be available to you and will be able to advise you on your coverage options. They will also be able to advise you on your insurance company options when you are ready to renew your policy.

Unclear About The Reality of Your Auto Insurance Coverage?

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