Working from home? Check your insurance!

Mooseman

Original poster
Moderator
Dec 4, 2011
25,327
Ottawa, ON
After seeing US TV commercials from some insurance companies giving rebates and discounts because of our current situation, I checked on my insurance's website and, nothing. There have also been complaints that insurance companies are just raking it in because they haven't lowered premiums and not paying out as much due to a lot less accidents.

My wife's been working from home for the past month and her car has hardly moved so screw a rebate, I suspended the coverage on it. So if you have a similar situation with a vehicle that could be parked for a while, save some cash and get the insurance suspended until it's needed again.

And another thing I saw on my house insurance's website, they are automatically adding extra coverage for those working at home for any equipment being used at home up to $10,000 at no extra cost. That's good to know as my wife has about $2000 of computer equipment here that belongs to her office.

So check your insurance website to see if they are offering a discount, refund or rebate and if you are getting some extra benefits.
 

Redbeard

Member
Jan 26, 2013
3,479
Just be careful before you cancel your car insurance. Should you cancel your insurance before purchasing new insurance your rates will be higher due to not having continuous insurance coverage before (insurance folks call it proof of prior insurance)- even if is only one day lapse!) Some states mandate coverage if the vehicle is tagged and should they learn of no coverage they often snatch your license. Call your insurance agent to find out and maybe just lower the limits on everything. If the bank holds a note on the vehicle they may frown on lower coverages and just bill you the amount to properly insure you. (I am sure this is the high dollar insurance too.) Reading the insurance websites it seems like they will credit your account in the months following this mess for just the time cov19 has kept many folks from working. This credit is often only for 1 month of service :sadcry:.

be careful out there
 

Mooseman

Original poster
Moderator
Dec 4, 2011
25,327
Ottawa, ON
I have a fleet so no problem here for any kind of lapse. In fact, one vehicle I can't even suspend liability when it's in winter storage because of the issues I had with its VIN and the type of insurance I had to get.

For sure check your local laws and particularities before changing anything.
 

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