Kanetix Forum

Dear Sir/Madam,

A quick question. We have just moved out of Canada for a period of at least 2 years for work in Australia.
One of our friends is selling our Chevrolet Venture, which we had to leave behind. The insurance contract ran out and we chose not to renew, thinking we'd have sold the car by now. Now we are in the situation however where the car is not insured and if someone would want to make a test-drive, they would not be covered.

IS THERE A WAY to insure the van for a SHORT TERM (e.g. on weekly basis or monthly), like they offer in the UK, Australia and a lot of other countries, and like you are able to do at car rental companies?? I off course do not want to end up in a situation to have to get insurance for 1 year and then having to pay a penalty for canceling early.

Any suggestions are really great?

thank you

Mike

Hi:

There is no such product offered in the industry which would cover you specifically for a short term policy. However, you have a few options: Some insurance companies will offer a 3 month or 6 month policy rather than purchasing a full year term.

Whether you purchase a 3, 6 or 12 month policy you will still have to cancel the policy mid-term after your insurance needs are through. Most companies will charge a short-rate cancellation fee for canceling early. This is the penalty you would pay for having short term insurance.

Please note that Kanetix is not a broker or agent and although we passed this information along to you from KTX Insurance Brokers, we are not responsible for the opinions expressed by them.

Sean Graham, Principal Broker at KTX Insurance Brokers