Insurance company not renewing my policy, is this the same as cancellation, and do I need to declare it when getting quotes

by Michael
(Sudbury, ON Canada)

Over 2 years ago, before my present insurer I had a weather related accident in a company vehicle and a minor speeding ticket 10KM over posted limit, I have no points or convictions, I shopped around at renewal and changed my insurer declaring both incidents. I have recently received a letter from them saying that their underwriting rules have changed and that I will not be able to renew, and that I should seek a quote elsewhere, before my policy expires. My questions are, is this allowed? Do I have to declare my policy has been cancelled, or is there a difference between not renewing. It appears my premiums took a hit 2 years ago because of the incidents, but will take a greater hit this year because an insurance company which were not affected by my incidents but enjoyed my premiums has changed it's underwriting rules,


Cancellation vs Non-renewal


Hi Michael

It is an important difference. Cancellation would be problematic. The non renewal shouldn't be a big issue with other carriers. The biggest issue is the accident, which is likely considered to be at fault.

The non-renewal is allowed if it is a filed underwriting rule with the Financial Services Commission of Ontario.

Please be sure to discuss this further with a licensed insurance representative. Oh, and by the way, are your rates too high? Check here:

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Note: Always speak with a licensed insurance professional about your specific situation. This insurance information is general in nature and the policy wordings always take precedence. It is possible that there are errors and omissions in this website and www.canada-insurance-source.com, or its authors, take no responsibility.

Keep in mind that insurance licensing, legislation, and policies often vary by province and most certainly by country. Canada Insurance Source is a free information source. So use this site to gain a general understanding of insurance with your own area and situation in mind.  Make sure you review the "please read" page. Always speak with a licensed insurance professional about your specific situation.

Always speak with a licensed insurance representative about your specific situation.

This site is general in nature and there may be errors or ommissions

Please Read

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