With pandemic restrictions related to COVID-19 continuing to ease across Ontario and much of the province in Phase Two of the re-opening plan, there are important considerations to be aware of that may affect your insurance.

More businesses have restarted operations, more people are heading back to work, and some sense of the old normal is slowly returning. As a result, your routine may be changing (yet again) and you may need to update your insurance policies to reflect your current situation as accurately as possible.

Here are some things to keep in mind when reviewing your policy:

PERSONAL VEHICLES

Change of Use for Auto Insurance: Driving activity may have increased again now that more businesses and services are open, or perhaps even returned to pre-pandemic levels. If you had reduced or removed coverage during the past three months you’ll need to make sure you update your policy details so that the coverage you need is in place.

Each insurance company has a unique approach to changing use of vehicles, so please contact your broker to learn about the options and make any updates to your policies.

COMMERCIAL INSURANCE

Unoccupied Premises: Many insurance companies extended coverage for unoccupied premises for 90 days, around the State of Emergency declaration. That period is likely expiring towards the end of June or in early July. Some insurers have begun announcing extensions, but not all. While some insurer actions were more broad (e.g. until the State of Emergency is lifted or until further notice), it is best to ensure your coverage continues.  Be sure to contact your broker to discuss what stage of reopening your business may be in and how vacancy might affect you.

Change of Operations: During the earlier months of the pandemic, some businesses may have changed their operations in order to accommodate new demands (e.g. producing personal protective equipment, hand sanitizer, etc.). If your business operations and/or products are changing again, be sure to get in touch with your broker so they can ensure your coverage is tailored for your business needs.

As always, we’re here to help. The benefit of having a broker on your side means we do the work of researching policy options and make it easy for you to be protected when it matters most. Find your broker here and don’t hesitate to contact us for more information.