A summary of the latest COVID-19 alleviation measures by insurance providers in Canada.

The COVID-19 alleviation measures offered by insurance providers are continuing fast and furiously. Welcoming the previous statements from the Co-operators, RSA Canada and Asuransi Wawanesa came statements from Echelon Insurance, Pafco, and Pembridge Insurance. From price reductions to versatile coverage and payment options, if you do have auto insurance or home insurance coverage, what to comply with will help you stay in the loop on what your insurance provider has to offer as well as what various other service companies provide to you. their customers. to help them deal with the COVID-19 tornado.

Echelon Insurance

Echelon Insurance announced new measures that will help customers lower their costs if their driving practices change due to the COVID-19 lockdown. Customers are encouraged to contact their Echelon broker if:

• Their vehicle usage has been significantly reduced: Customers whose driving duties and fuel mileage have been reduced due to COVID-19 can request that the fuel mileage associated with their package be reduced. Depending on how much gas mileage drops, the premium drop can be as much as 15%.
• They have parked their car and will no longer use it until the pandemic is over:

Customers who are no longer using their vehicle due to COVID-19 can request to remove the broad coverage from their package. However, the policyholder needs to ensure that the vehicle is parked and stored safely. Decreasing the premium for reducing coverage on the plan by doing this depends on 80%.

Echelon also announced that they anticipate avoiding the planned rate increase that is ready to take effect in the next 3 to 6 months. Echelon says this will equate to 12% to 15% savings for their customers.

Lastly, Echelon has also run versatile online payment options, and auto coverage for customers offering food or supply delivery. However, it is important to remember that this is for bid delivery solutions, paid delivery solutions like UberEats are omitted.

Pafco Insurance

As previously reported, Pafco gives its policyholders a single payment of what to do with 25% of their monthly car premium. “Stay at Home” payments are available for drivers who, as of April 8, 2020, have plans with the company.

Pafco has now verified that these payments will be automated. There is absolutely nothing the policyholder needs to do to get it. Policyholders can anticipate checks in the mail in May.

Along with the single payment, Pafco policyholders will also take advantage of canceled non-sufficient fund (NSF) fees as well as the option to delay resettlement or make changes to coverage. The latter will require the policyholder to contact their provider to arrange in advance.

Pembridge Insurance

Pembridge Insurance offers the same single “Stay at Home” payment as Pafco Insurance. Both companies are under the Allstate Canada corporate team and thus offer the same insurance relief measures.

Pembridge policyholders can anticipate a single payment of what to do with 25% of their monthly car premium. In the purchase to get payment approval, the policyholder must have a plan with the company since April 8, 2020. Also since the payment is verified, by check sent by post in May, it will be automatic. There is absolutely nothing the policyholder needs to do to get it, other than check their mailbox.

Along with the single payment, Pembridge policyholders will also benefit from a non-sufficient fund (NSF) fee waived, if they do not have the ability to cover their premium payments. However, before reaching this phase, contact your broker as options to delay resettlement or make coverage changes can help.