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Reviewing and renewing your auto insurance

Insurance exists to help provide coverage to you from the what ifs of daily life. And few places are more subject to constant condition changes than roads. The following lists most of the times you may need to update or even rethink your auto insurance.

Renewal time - let’s see if we can save you money!
The most obvious time to update your insurance is when you buy or sell a vehicle. After that, it’s when your renewal comes around. Use this time to review your coverage and check it against everything that’s below. Make this renew/review policy a habit and you might even save some money.

Big changes in life
Have you switched jobs or moved to a new address? Such changes affect your commute, which in turn affect your auto insurance.
If you’ve just been married and are changing your name, you’ll want to inform your insurance company (and update your license). Other important changes include moving in with a new partner, then sharing vehicles. Adding someone to your insurance will likely affect your premiums. How much depends on their age, experience, and driving record.
Likewise, if someone on your insurance has moved away or out, taking them off the policy could lower your premiums. Another time to update your insurance is when you have a child. Maybe this affects your decision to commute. See below.

Changes in your driving habits
Has your commute changed? For instance, maybe you’re working from home more frequently now, or simply driving less. You could be eligible for a discount.
Are you using your vehicle for business purposes, like ridesharing or deliveries? If your insurance policy doesn’t cover this, you’re putting yourself at financial risk.

Any financial changes?
Some savvy consumers choose to pay their premiums with a credit card. (PC® Insurance clients who do so with their PC earn 2x the regular PC Optimum™ points!*) If you lose or replace your credit card or it expires, update your payment details with your insurance company immediately, so you don’t leave yourself unprotected. It’s the law in Canada to have auto insurance if you drive.

Or changes to your vehicle?
If you’ve modified or added custom parts to your ride, it may no longer technically qualify as the same vehicle you insured. Let your insurance company know and prevent any risk of a claim being refused.
Lastly, once you’ve paid off your vehicle loan, talk to your insurer. You may not need collision or comprehensive coverage anymore. And if you can’t remember when you last reviewed your policy, well, there’s no time like the present. Review your policy details through your online account.

General information not about PC® Insurance home and auto coverage is provided for your reference and interest only. The above content is intended only to provide a summary and general overview on matters of interest and is not a substitute for and should not be construed as the advice of an experienced professional. PC® Insurance does not guarantee the currency, accuracy, applicability or completeness of this content.
*All purchases with the PC Financial
® Mastercard® earn a minimum of 10 PC Optimum™ points per dollar. When you pay your PC® Insurance home or auto insurance premium with your PC Financial® Mastercard®, earn 20 PC Optimum™ points per dollar. Minimum redemption is 10,000 PC Optimum™ points (worth $10 in free rewards) and in increments of 10,000 PC Optimum™ points thereafter, at participating stores where President's Choice® products are sold. Some redemption restrictions apply; visit for details and full store list.

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