Romanov Report

The Romanov Report gives you information about your insurance, renewals, your vehicle, tickets, accidents and the law. An archive of all reports is available.

YOU'RE FIRED!

If your insurance company is not providing you with a great rate and the service you expect, you have a "TRUMP" card. You can cancel your policy and go elsewhere.
Can I Cancel Them Now?
You can cancel your insurance policy anytime.
BUT REMEMBER: Your insurance policy is a contract, you need to sign off to cancel it.
If you cancel your policy before its renewal date, most insurance companies charge a penalty. The amount of the penalty varies with the length of time the policy has been in force. The longer the policy has been in force, the lower the charge will be for cancellation. Generally the penalty is between 4% and 6% of the annual premium.

It's not personal.
It's just business.

If you are paying monthly, your previous insurance company may access your account for one last payment or partial payment.

Be Careful: If you do not make that payment, your policy will be labeled "cancelled for non-payment of premium", which will affect your insurance rate with your new company.

Can My Insurance Company "FIRE" Me?

Your insurance company can cancel your policy for misrepresentation, like not telling the truth, or for any violation of the "statutory conditions". These conditions are clearly outlined in your policy. Here's a copy of the insurance policy:

http://www.insurancehotline.com/scripts/insquote.pl?instype=rr25_1

Some cancellation conditions include NOT notifying your insurance company about:

new drivers in your household

a change in the use of your vehicle or the distance you commute to work

driving or allowing your car to be used for racing

driving or allowing your car to be driven while the driver is impaired

RED ALERT: A Company Can Cancel YOU Without Listing Their Conditions

All insurance companies have their "OWN RULES", which have been approved by the provincial government. Yet, that doesn't mean they've had to tell you about them. In fact, companies have at least forty or fifty filed reasons to cancel your policy, all different, and most are NOT listed in your policy. We usually find out about them when it's too late.

Your driving record can trigger a cancellation or non-renewal for the following:

two at fault accidents in six years

one at fault accident and two or more tickets

three tickets (combination of minor and major)

a driving-related Criminal Code conviction

a "major" ticket, such as passing a school bus when not allowed to do so

a combination of an accident, ticket, or cancellation of policy in the last 3 years for a non-payment of premium

two "minor" tickets where the driver has been licensed less than four years

Here are some other examples:

driving your car out of province for over 30 days

your car being driven by an excluded or unlicensed driver

if a driver has been convicted of insurance fraud

making a false statement in a claim

Which Conditions Can Cancel Me?

Ask your agent or broker which conditions your insurance company can use to cancel you. If you get cancelled, you will be driven to a high risk insurance company, and your rate will skyrocket.

If your policy has been in force for less than 60 days, the insurance company can only cancel your policy if the reason has been filed with the provincial government. After 60 days, they can cancel you for non-payment, not notifying them of a change of risk, giving false information, or not giving all information required.

How Do I Know If I'm Being Given The Axe?

The insurance company must cancel you by hand-delivering a note giving you five days cancellation notice. Or by mailing you a notice of cancellation, giving you 15 days notice. The 15 days start on the day after the notice has been received by the post office which delivers your mail.

Note: Don't think that if they can't find you, they can't cancel. The insurance company will send you a registered letter to your last known address and whether it's deliverable or not, their responsibility stops there and the cancellation proceeds.

Fear of Changing Insurance Companies?

Be brave. Knowledge is power. Click on the link below:

http://www.insurancehotline.com/scripts/insquote.pl?instype=rr25_2

ALWAYS ON

If your Internet service provider like Rogers, Sympatico, AOL, etc. goes down, you can continue using your computer as usual and without any interruption. Not having a connection for 4 hours, even days, is NOT acceptable! Anyone in business knows this.
Anyone who uses Vonage, or other voice-over-Internet services will benefit from this too. Because if your Internet connection goes down you will be without a phone line.
There's a company called Failsafe that has a device which provides, you, or your office, with a guaranteed connection, if your service provider goes down.
Your Internet connection will seamlessly be transferred to another live connection, until your service is restored, no matter what the time frame is. The cost for this service can be anywhere between $50 to $150 per month. Many businesses are presently spending thousands of dollars a year for this type of service.
I know of one mid-sized business which was spending $3,000 a month and now spends only $150 a month.
I would be delighted to provide you with more information. Let me know:

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