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Thread: insurance cancellation fee?

  1. #1
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    insurance cancellation fee?

    Hi there, I'm trying to insure my jeep and the best quote i can get (it's high risk insurance - 1 accident 4 years ago and 4 minor tickets) is through Perth insurance. I asked the broker if i could cancel after 5-6 months and she said i could - but i would be changed a hefty cancellation fee - which is essentially a pro-rated amount as if i was insured for the whole year.

    This is frustrating and i don't mind paying $450 a month during the summer for the jeep, but i seldom use it throughout the rest of the year...and it's not my daily driver...so paying $5000 for 5-6 months is a but tough for me to swallow

    Anyone have any info on this... ?
    OF4WD # 6856
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    insurance cancellation fee?

    Put fire and theft on it when you don't use it (winter months)


    OF4WD #7796

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    Quote Originally Posted by Miller View Post
    Put fire and theft on it when you don't use it (winter months)


    OF4WD #7796

    As Miller has said and I agree. Play their ball game...
    Minimal insurance ( fire and theft ) keeps you and your jeep protected, just don't take it out on the streets for a quick rip if
    we get another mild winter...

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    What they said ^ but they'll more then likely want at least one other vehicle insured for Collision (road use) while the Jeep is on Liability (fire and theft) I take it your DD is with the same company?

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    no unfortunatly my DD is through work...arg...so frustrating. I've left a message with the broker...but i remember last year she said something similar about needing to have 2 vehicles...etc...

  6. #6
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    Quote Originally Posted by RedNeckYJ View Post
    What they said ^ but they'll more then likely want at least one other vehicle insured for Collision (road use) while the Jeep is on Liability (fire and theft) I take it your DD is with the same company?
    FYI - liability does = fire theft. Collision doesnt = road use.

    Liability = road coverages that are mandatory for the province of ON. Thisi s the " millions of dollar coverage "
    Collision = coverage for physical damages occuring from an accident deemed your fault.
    COMPREHENSIVE = " Fire & Theft "

    As for cancellation fees, there is a system that is followed by all insurers ( except one that I know of ).
    You will either have a pro rata cancellation or a short rate cancellation.

    Good OAP1 FSCO and you will find copies of the Ontario Auto Policy, and it will explain the cancellation procedure there for you to learn about.

    Cheers
    1987 Jeep YJ with a few mods.
    2008 Jeep Sahara Unlimited - the daily driver
    "party like a rockstar, play like an allstar... and f*ck like a pornstar"

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