Blog OPCF 19/19A Explained

Apr 18, 2023

OPCF 19A: Agreed Value of Automobiles

yellow sports car

Did you know in Ontario, there are option endorsements and policy change forms that help you customize your policy?

OPCF 19/19A is one of the various Ontario Policy Change Forms that drivers can include. This specific one focuses on the agreed value of a vehicle in the event of a loss.

There are some distinct differences between these forms. Read on to learn more about their specifications and how to add them to your Ontario car insurance.

What is OPCF 19?

OPCF 19 is also known as Limiting the Amount Paid for Loss or Damage Coverages. It will include the maximum amount your insurer will pay out in the event of a loss. The insurer will pay the lesser of the ACV (actual cash value) at the time of the claim, or to the limit of OPCF 19. This endorsement sets a limit on the insurer, usually the appraised value of the vehicle.

For example, if you need to report a car accident in Ontario and your vehicle was worth $25,000 and appraised at $20,00. If your OPCF 19 is at a limit of $15,000 you will likely only be imbursed up to the $15,000, because most insurers will choose the lower value.

What is OPCF 19A?

OPCF 19A, is the Agreed Value of Automobile(s) Endorsement. This endorsement will guarantee to pay the amount stated in the agreement. The amount is pre-determined by the vehicle’s appraisal. If you own a classic car, you’ll want to ensure you have OPCF 19A on your policy and ensure you know which perils are included.

You can find a PDF of OPCF 19A on the FSRAO website.

What’s the difference between OPCF 19 and OPCF 19A?

The key difference between these two policy modifications is that OPCF 19 will only cover the limit as outlined in your auto insurance agreement. On the other hand, OPCF 19A will pay the amount stated in the agreement of your vehicle, which is usually the full appraisal amount.

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Is OPCF 19/19A mandatory in Ontario?

Always remember that having a valid policy is a mandatory requirement in Ontario, but having endorsements such as OPCF 19/19A is not a legal requirement to drive in the province. They are only additions you can add if you seek additional protection for your car insurance in Toronto, or another city.

How to add OPCF 19/19A to your policy

Adding OPCF 19/19A is as easy as contacting your broker and letting them know about your decision. Having a professional car appraisal done beforehand can also support the process as you’ll have proof of the cost if there is a dispute. You want to ensure you are getting fair value for your vehicle.

Contact us to learn if OPCF 19/19A is right for you

You can add OPCF 19/19A during the term of your coverage, without needing to renew your auto insurance. Keep in mind you may see an increase in your monthly payments when you add additional options, but it can help you if you are submitting a car insurance claim.