We encourage you to visit this page frequently so you remain up-to-date on your insurance company’s response to the coronavirus pandemic.

Car Insurance:

Travelers announced in July that they have extended their Stay-at-Home Auto Premium Credit Program. In April they provided a 25% credit on one month’s premium for those with a personal car insurance policy.  In July they announced they would provide an additional 15% credit on one month’s premium per customer with personal car insurance.

This additional credit will be automatically provided and no action is required by clients.  The credit will be automatically provided against a future bill for those on monthly installments or cheque by mail, for those who had already paid in full.   

Clients whose driving situations have changed also have the following options.

  1. If your car is rated for business or commuting to work/school but you are now driving significantly fewer kilometers, you may be able to adjust your policy information. The premium reduction from this depends on a number of factors (i.e. type of car, annual mileage), but it is usually not significant savings.
  2. Some clients are not driving their vehicle at all during the pandemic and want to remove road coverage entirely.  This option is only available IF your car is not being used at all and is in storage or parked indefinitely for a minimum of 45 days.  By law you must have insurance on your car if it is being operated so this option is only available to those who are no longer using their car at all.  Also, if the car is leased or has a lien holder, we may not be able to reduce coverage without written confirmation from the lessor or lien holder.

If you decide to change your coverage, as per the options above, it is important that you note that you are responsible for calling us to have the use and/or mileage adjusted once your situation changes, in order to avoid potential risk of being uninsured or under-insured.  For example -If you amend your vehicle to pleasure use, we will not know when you start using it for business/commute again.  If you remove road coverage, we will not be aware when you decide to use your car again.   You must contact us so we can amend the use of your vehicle or re-add road coverage before you drive your car.

Property Insurance:

We recognize that many clients are temporarily working from home.  While property policies do not provide coverage for business pursuits at home, Travelers is providing coverage for incidental office use for those working from home temporarily during the COVID-19 pandemic. For those clients with a home, condo or tenant form policy, there is $5,000 coverage provided.  For all other forms there is $2,500 in coverage provided.

If you would like to discuss your options please contact us.

Please be aware that the details on this page are provided as a summary for illustration purposes only. Your policy wording governs in all situations. Please remember that each policy is subject to limits and exclusions. If you would like to review your policy details, please contact one of our licensed brokers.