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Ontario car insurance policies are made up of a number of types of coverage. If you own a vehicle, then you will be required to, at the very least, have a standard auto insurance policy that includes third party liability coverage, statutory accident benefits coverage, direct compensation coverage, and uninsured automobile coverage. This is the minimum amount of coverage you are legally required to have as an Ontario driver.
However, there are situations where you will want or be required to have additional coverage, often in the form of optional enhancements to your current coverage – called Ontario Policy Change Form (OPCF), a rider, or policy endorsement.
An OPCF, or enhancement, is an optional car insurance coverage provision that allows you to alter the amount of insurance coverage in certain situations. You can add, reduce, or change coverage amounts on your existing car insurance policy, ensuring you have the custom car insurance coverage you need to meet your driving requirements. There are many different types of OPCF endorsements that you can purchase for your personal car insurance. How much an endorsement will impact your rates will depend on the type of OPCF and its effect on your policy.
To help you gain a better understanding of the common personal insurance riders and endorsements available to Ontario drivers, we’ve put together a list of the most common OPCFs:
One of the first things you think about after an accident, if your vehicle has damage that prevents it from being driven, is what you are going to do for transportation while your car is in the shop. In some cases, you could be without your vehicle for weeks while it is getting repaired, and having to pay for the cost of a rental out of pocket can add up.
This endorsement provides you with coverage for transportation replacement and rental car coverage if you were to get into a car accident or if your vehicle is stolen. The OPCF 20 definition allows you to choose to either rent a car or hire a taxi while your vehicle is being repaired. Depending on the endorsement, there may be a limit to the amount of coverage you will be provided. There are many situations where you may find yourself driving a vehicle that you do not own. For example, you may drive your parents’, sibling’s, boss’ or friend’s vehicle for a variety of reasons. However, the most common reason you may be driving a vehicle that you don’t own is you rented a vehicle while on vacation. This endorsement - OPCF 27 - Liability for Damage to Non-Owned Automobile(s) and Providing Other Coverages When Insured Persons Drive Other Automobiles – provides you with physical damage coverage for vehicles you drive that are not your own, including rental cars. This means that if you cause damage to a vehicle while driving, it will be covered, often up to a limit of $50,000. The endorsement is subject to a deductible, and the coverage will include all drivers listed on the policy.
Accidents happen every day. Some aren’t your fault, and others are. When an accident is your fault, especially if you have a clean driving record, it can erase all those years of accident free driving, that is, unless you have accident forgiveness coverage.
OPCF 39, also referred to as accident protection or accident forgiveness, will protect your driving record or preferred driver rating in the event of your first at fault accident. This means that your car insurance premiums will not increase as a result of an insurance claim as long as you remain with the same Ontario insurance company. If you choose to switch insurance companies, you could see an increase in your auto insurance rates.
Coming to an amicable agreement with your insurance company about the replacement value of your vehicle when filing a claim is important. You want to get the most value possible in order to replace your vehicle if it is deemed a write off. This is the purpose of OPCF 43 / 43A.
OPCF 43 – Removing Depreciation Deduction, and OPCF 43A – Removing Depreciation Deduction for Specified Lessee(s) allows you to remove your insurer’s right to deduct depreciation from the value of your vehicle when settling a car insurance claim for damage or loss. Essentially, this endorsement ensures that you will be able to replace your car with one of the same make and value. You will have an option for the amount of months this endorsement is in effect. In most cases, you can choose between 24 and 60 months. To be eligible for this endorsement, drivers need to be the original owner of the vehicle and you must carry full coverage. Even though auto insurance is mandatory in Ontario, there may be instances where you are involved in an accident with another driver who does not have as much or adequate coverage. OPCF endorsement protects you if you are involved in an accident and the at-fault driver does not have enough coverage to compensate the injured victims to cover the costs of their medical bills and recovery. With this endorsement, you can file a claim to recover the remaining outstanding damages. Is OPCF 44 mandatory? This is a common question we receive about this endorsement. It is not a mandatory part of your insurance coverage; rather, it is an optional form of coverage you can add to your policy. OPCF 44 provides you and eligible family members with additional third party liability coverage and benefits (bodily injury or death) if you are involved in an accident where you are not at fault with another party who either is not insured, has less insurance, or is unidentified (the case of a hit and run or similar incident). The OPCF 44R wording ensures that you will have access to coverage if you or a family member is injured. Depending on your insurer, you may have a number of coverage limits to choose from
Other common OPCF endorsements drivers commonly add to their Ontario automobile policy :
Contact a ThinkInsure broker today with all your questions about auto insurance endorsements and how to add an OPCF to your policy.
A Guide to the Ontario Graduated Driver's Licensing SystemOPCF – Explaining Ontario Policy Change Form Information
Mar 10, 2017
What Is An OPCF?
Common OPCF Endorsements In Ontario
OPCF 20 - Rental Car Coverage
OPCF 27 – Coverage To Drive Another Person’s Car
OPCF 39 – Accident Waiver / Forgiveness
OPCF 43 / 43A - Remove Depreciation Deduction
OPCF 44R - Family Protection Coverage
Other Common OPCFs
Have Questions About OPCF Endorsements?
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