What is an OPCF?

When you drive a car in Ontario, you are required to have a standard auto insurance policy. Your policy will include third-party liability coverage, direct compensation coverage, statutory accident benefits coverage, and uninsured automobile coverage.

However, there might be times when you want to change, add, or reduce the amount of coverage on your car insurance. Perhaps you want additional coverage so you can drive a rental car, or you have a blemish-free driving record and would like to protect that record in the event that you need to make a claim.

These optional enhancements are called Ontario Policy Change Forms, better known as OPCFs, and are available for your auto insurance policy. OPCFs enable you to customize your insurance to suit your situation and are also known as riders or endorsements. It helps to think of OPCFs as options that you can add to your policy so you have complete car insurance that gives you peace of mind.

Common OPCFs in Ontario

OPCF 20: Rental Car Coverage

OPCF 20 covers you in the event that your vehicle is damaged in an accident and you need alternative transport while it is being repaired or replaced. With OPCF 20, you are also covered if your vehicle is stolen. You can choose to rent a car or hire a taxi while you are unable to use your own car.

There may be a limit on the amount of coverage you are provided depending on the individual policy endorsement. Typical limits are $1,500, but higher limits are available if you require them. You must have collision coverage to add OPCF 20 to your policy.

OPCF 27: Liability for Damage to Non-Owned Automobiles

OPCF 27 applies to damage to a vehicle that you are driving but do not own. Typically used for rental vehicles, OPCF 27 can make sure that you are covered in the event that you are involved in an accident where you are driving a car that is not yours.

There is usually a limit of up to $50,000 and you will need to pay a deductible. All drivers listed on the policy will be covered by this endorsement. You must have collision coverage to add OPCF 27 to your policy.

OPCF 43: Remove Depreciation Deduction

If you are the original owner of a brand new vehicle and you carry full coverage, you can choose OPCF 43 to protect the value of your car. This endorsement ensures you get the most value possible for your vehicle if it’s written off in an accident.

OPCF 43 removes the depreciation deduction that your insurer is entitled to take from the value of your vehicle when settling a claim. This means you get more money for your damaged car and you are more likely to be able to replace it with another car of the same value. You can choose to have this endorsement for between 24 and 60 months, depending on what your insurance company provides.

Accident Forgiveness Coverage

Unfortunately, if you are involved in an accident that is your fault, there are repercussions in terms of your insurance policy. You will no longer have a clean record of accident-free driving. You could also potentially lose your preferred driver rating and your premiums could increase. Unless that is, you choose to have Accident Forgiveness Coverage.

Also known as Claims Protection, this endorsement will protect your driving record or preferred driver rating if it’s your first at-fault accident. If you stay with the same Ontario insurance provider, your premiums will not increase as a result of your first at-fault claim with the endorsement. It is not transferable to another company.

Other OPCF Options

There are other OPCFs, including OPCF 44R, which provide coverage in the event that the other driver in an accident is not adequately covered to compensate you for your injuries. This also covers you if the other driver is unidentified or fails to stop.

To find out more about OPCFs and the right policy endorsements for you, contact us today!