Automotive

OPCF 43 Car insurance adjuster expert please help!

  • Last Updated:
  • Feb 23rd, 2018 9:00 am
[OP]
Newbie
Nov 9, 2017
22 posts
10 upvotes

OPCF 43 Car insurance adjuster expert please help!

I have OPCF 43 on my current car insurance policy that was renewed last July. My car was bought new 26 months ago and on the renewal date of the current policy it is less than 24 months and I have OPCF 43 on it which mean that if the car is total loss, insurance will not apply depreciation on the car.

The exact condition is below:

The loss or damage must occur before the expiry date of the policy that is in force 24 months from when your automobile was delivered to you.

My question is, my car was delivered 26 months from time of accident but then the current policy starting from July when it was less than 24 months and only expired next July. So it fits the condition that the accident occured before the expiry date of the policy that is in force 24 months from when the automobile was delivered to me even though it is more than 24 months old because the expiry date of current policy is next July!

Can someone confirm if OPCF43 still applies in my case?
13 replies
Deal Expert
Aug 22, 2011
20364 posts
7340 upvotes
Ottawa
From my understanding, this policy no longer applies to your vehicle; as it is over two years old now!
Sr. Member
Dec 20, 2015
864 posts
292 upvotes
Toronto, ON
Dann384476 wrote:
Feb 21st, 2018 11:12 am
I have OPCF 43 on my current car insurance policy that was renewed last July. My car was bought new 26 months ago and on the renewal date of the current policy it is less than 24 months and I have OPCF 43 on it which mean that if the car is total loss, insurance will not apply depreciation on the car.

The exact condition is below:

The loss or damage must occur before the expiry date of the policy that is in force 24 months from when your automobile was delivered to you.

My question is, my car was delivered 26 months from time of accident but then the current policy starting from July when it was less than 24 months and only expired next July. So it fits the condition that the accident occured before the expiry date of the policy that is in force 24 months from when the automobile was delivered to me even though it is more than 24 months old because the expiry date of current policy is next July!

Can someone confirm if OPCF43 still applies in my case?
OPCF 43 is valid only from the date of delivery of the vehicle from the dealer to you. So basically it is 24 months from the date of pick up. But some policies have it as 36 months not sure why your insurance company has it for 24 months only.
Deal Addict
Aug 20, 2007
1660 posts
415 upvotes
Kitchener
It depends, some companies (a small number) apply the 24 month condition literally, ie starting from the date of acquisition, regardless of whether it aligns with the effective date of your renewal. Some companies allow it to be extended for the remaining portion of the term.

Most companies do take the literal approach where if the accident is > 24 months from the date of purchase, regardless of when the policy is expiring, OPCF 43 is not applicable to be used.
[OP]
Newbie
Nov 9, 2017
22 posts
10 upvotes
I am surprised my company (AVIVA) has only 24 months, but could it be that the wording actually means 36 months since it is saying the accident must occur before the expiry date of the current policy which is in fact extending 12 months from the 24 months period? Any AVIVA expert here?
Deal Fanatic
Apr 11, 2006
5311 posts
1106 upvotes
Mississauga
OP this endorsement is a standard wording prescribed by FSCO. If you're charged for the coverage you have the coverage for the entire policy term. More specifically for your case, it extends to the expiry date regardless of the fact that it's past the 24 month time frame. This situation would be true of all companies based on their respective time frames of the coverage.

Don't let Aviva tell you otherwise or try to cheat you otherwise.
[OP]
Newbie
Nov 9, 2017
22 posts
10 upvotes
kenchau wrote:
Feb 21st, 2018 4:02 pm
OP this endorsement is a standard wording prescribed by FSCO. If you're charged for the coverage you have the coverage for the entire policy term. More specifically for your case, it extends to the expiry date regardless of the fact that it's past the 24 month time frame. This situation would be true of all companies based on their respective time frames of the coverage.

Don't let Aviva tell you otherwise or try to cheat you otherwise.
Awesome, that what I am thinking too because if they charged me then no point that they use that clause, I was paying for the OPCF43 then they should honour till end of the contract
Deal Fanatic
Apr 11, 2006
5311 posts
1106 upvotes
Mississauga
Dann384476 wrote:
Feb 21st, 2018 4:17 pm
Awesome, that what I am thinking too because if they charged me then no point that they use that clause, I was paying for the OPCF43 then they should honour till end of the contract
Worth noting, as others have suggested, other companies do offer upwards of 36-, 48-, and 60-months. So if that's something you're interested in, you should speak to your broker about other options they can get you with other companies they are contracted with, as well as, pricing, for you to determine if it's worth your while.

Other companies may have a requirement that you had purchased the coverage on the vehicle since new and that there's no gaps in the coverage. In your case, you would qualify, as long as, you switch over by the expiry date and not a day later.
[OP]
Newbie
Nov 9, 2017
22 posts
10 upvotes
kenchau wrote:
Feb 21st, 2018 4:53 pm
Worth noting, as others have suggested, other companies do offer upwards of 36-, 48-, and 60-months. So if that's something you're interested in, you should speak to your broker about other options they can get you with other companies they are contracted with, as well as, pricing, for you to determine if it's worth your while.

Other companies may have a requirement that you had purchased the coverage on the vehicle since new and that there's no gaps in the coverage. In your case, you would qualify, as long as, you switch over by the expiry date and not a day later.
I have a concern about switching, hope you can help. I am at fault in this incident (lost control due to weather condition), my insurance has 1st time forgiveness (I have no claim for over 10 years!!!) and if I stay with them then there is no increase in premium, however if I move then will I have my insurance premium bumped up based on this fault?
Deal Guru
User avatar
Mar 1, 2008
11645 posts
1679 upvotes
Toronto, Ontario
Dann384476 wrote:
Feb 21st, 2018 3:26 pm
I am surprised my company (AVIVA) has only 24 months, but could it be that the wording actually means 36 months since it is saying the accident must occur before the expiry date of the current policy which is in fact extending 12 months from the 24 months period? Any AVIVA expert here?
Aviva also offers 60 month coverage. It is called the Replacement Cost Coverage. Check with your broker for more information on that coverage.
Dann384476 wrote:
Feb 21st, 2018 5:16 pm
I have a concern about switching, hope you can help. I am at fault in this incident (lost control due to weather condition), my insurance has 1st time forgiveness (I have no claim for over 10 years!!!) and if I stay with them then there is no increase in premium, however if I move then will I have my insurance premium bumped up based on this fault?
If you are at fault, then yes your insurance premiums will increase when you switch.
Deal Fanatic
Apr 11, 2006
5311 posts
1106 upvotes
Mississauga
Dann384476 wrote:
Feb 21st, 2018 5:16 pm
I have a concern about switching, hope you can help. I am at fault in this incident (lost control due to weather condition), my insurance has 1st time forgiveness (I have no claim for over 10 years!!!) and if I stay with them then there is no increase in premium, however if I move then will I have my insurance premium bumped up based on this fault?
Crap, forgot about that minor detail, which is of course the point of this thread. My bad. I guess ask your broker about similar coverage for longer length of time with Aviva.
Deal Fanatic
User avatar
Aug 11, 2008
7737 posts
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Ontario
in most cases, the OPCF 43 will remain on your policy until the policy expiry date. Confirm with your current insurer to be sure. There are several companies now that offer OPCF 43 for 24, 36 and 48 months.
Dann384476 wrote:
Feb 21st, 2018 11:12 am
I have OPCF 43 on my current car insurance policy that was renewed last July. My car was bought new 26 months ago and on the renewal date of the current policy it is less than 24 months and I have OPCF 43 on it which mean that if the car is total loss, insurance will not apply depreciation on the car.

The exact condition is below:

The loss or damage must occur before the expiry date of the policy that is in force 24 months from when your automobile was delivered to you.

My question is, my car was delivered 26 months from time of accident but then the current policy starting from July when it was less than 24 months and only expired next July. So it fits the condition that the accident occured before the expiry date of the policy that is in force 24 months from when the automobile was delivered to me even though it is more than 24 months old because the expiry date of current policy is next July!

Can someone confirm if OPCF43 still applies in my case?
RIBO LICENCED INSURANCE BROKER, over 30 years experience
Deal Fanatic
User avatar
Aug 11, 2008
7737 posts
791 upvotes
Ontario
Wawanesa will only allow this coverage to be added at the time of purchase. Other companies will allow adding after the purchase, in all cases you must be the the original owner and the vehicle must have less than 5000klm(with most companies) ...
kenchau wrote:
Feb 21st, 2018 4:53 pm
Worth noting, as others have suggested, other companies do offer upwards of 36-, 48-, and 60-months. So if that's something you're interested in, you should speak to your broker about other options they can get you with other companies they are contracted with, as well as, pricing, for you to determine if it's worth your while.

Other companies may have a requirement that you had purchased the coverage on the vehicle since new and that there's no gaps in the coverage. In your case, you would qualify, as long as, you switch over by the expiry date and not a day later.
Last edited by COSMIC5 on Feb 23rd, 2018 8:59 am, edited 1 time in total.
RIBO LICENCED INSURANCE BROKER, over 30 years experience
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User avatar
Aug 11, 2008
7737 posts
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Ontario
you should stay where you are. Moving to a new company, you will be rated from the date of the AF meaning if the accident happened in 2017/06 for example, you would be a 0 star with a new insurer.
Dann384476 wrote:
Feb 21st, 2018 5:16 pm
I have a concern about switching, hope you can help. I am at fault in this incident (lost control due to weather condition), my insurance has 1st time forgiveness (I have no claim for over 10 years!!!) and if I stay with them then there is no increase in premium, however if I move then will I have my insurance premium bumped up based on this fault?
RIBO LICENCED INSURANCE BROKER, over 30 years experience

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