Kanetix
Car Insurance Forum

So last week I was in a car accident. The driver of the other car was 100% at fault. My car was a write off and I received the money for my car today from my insurance company.



Now tomorrow I am supposed to call and cancel the insurance on my car that I no longer have. It was the only car on the policy. My question is, is there any way I can keep my car insurance active even without having a car at the moment? I am in the process right now of looking for a new car. I will probably have one within a few weeks. I don't want to have to cancel my policy (in the middle of term I should add) just to have to apply for a new policy in a couple weeks on a new car. So do I actually have to cancel it? Or is there a way to keep it active by paying a smaller monthly fee or something like that.

This depends on whether you have a rental car currently. If you have been provided with a rental car to drive in the meantime you would just keep your policy going as normal until you return your rental. Your policy will cover the rental car as a temporary substitute vehicle and you can make a permanent substitution when you buy your new car. If you do not have a rental and are without a car for a number of weeks or more, it is likely the most cost effective solution is to cancel your policy and start a new one when you purchase your new car. Some brokers might suggest you use an OPCF 16 Suspension of Coverage endorsement to temporarily suspend coverage on your policy. This would suspend coverage and payment for a period of time. It's always best to consult with your broker or agent to see what option best suits you.



Sean Graham, Principal Broker at KTX Insurance Brokers

if company provides this wonderful facility, like car insurance... i'll definitely go with this plan.. I liked it.