What Is A Letter Of Experience For Insurance?

Sep 23, 2019

Letter Of Experience Insurance

We all want to save on car insurance. Part of saving is about understanding the type of information used by insurance companies to set rates. Insurers use many different factors to assess and determine your insurance.

Sometimes, insurers don’t have all the information or they need clarification about your auto insurance history. A car insurance letter of experience can provide insurers with the information they need, while helping you save more.


What Is A Letter Of Experience For Auto Insurance?

A car insurance letter of experience is a document you can request from your current and previous insurance provider. It is a record of your history as an insured driver with the company. It serves as a letter of reference and provides insurers with important information about your insurance history.

The document can verify information you have provided to a new insurer and potentially help you lower your insurance rates.


When Do I Need An Experience Letter For Insurance?

Letter Of Experience For Auto Insurance

There are a number of situations where a letter of insurance experience is useful :

  • You’ve moved to another province
  • You have recently moved from another country to Canada
  • You had a lapse in insurance coverage
  • You we’re not the primary driver on your previous insurance policy
  • The Insurer has identified discrepancies or inconsistent information in your insurance application and required verification

What Information Is In A Letter Of Experience For Insurance In Ontario?

A letter of car insurance experience outlines your history with an insurer. Letters of experience for insurance typically include this information :

  • The insurance policy number
  • The start and end date of the policy
  • Drivers listed on the policy
  • Claims history
  • Reason for policy cancellation

Note : If you have had policies with a number of insurers, you will need letters from each one to get a complete history of insurance.


What Are The Advantages Of Getting An Auto Insurance Letter Of Experience?

What Is A Letter Of Experience For Insurance

Insurance providers commonly request a letter of experience for insurance to verify and update information about a policyholder. However, a letter of experience for auto insurance can also benefit you.

While they are not required, it doesn’t hurt to ask if a letter could help you lower your insurance costs. The information provided could help you qualify for insurance discounts, save money, and get lower car insurance premiums.

As a new policy holder with an insurer, you could be viewed as higher risk. The letter of experience can help establish a strong history as an insured driver.


How To Get A Letter Of Experience From Your Insurance Company

The process for how to request a letter of experience for insurance is straightforward. All you need to do is request the letter from your insurance company.

How To Get A Letter Of Experience Insurance

Only the insurer that provided you with a policy can give you a letter of experience. You cannot get it from your broker. However, your insurance broker may be able to help you get the letter from your insurer.

It’s recommended to request a letter of insurance experience each time you switch insurance providers. This will ensure you have an updated record of insurance and will save you the time and hassle of requesting a letter for insurance experience from years ago.


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