10 Surprising Things That Can Invalidate Your Car Insurance

There are around one million uninsured drivers on Britain's roads and that is certainly what is partly responsible for the spiralling costs of motor insurance. You probably feel that those folks who are driving without being insured should be punished, but were you aware that you could be driving uninsured and never even know it? There are reasons that will mean that, on the subject of the crunch, your vehicle insurance won't fork out. Here are ten from the surprising ways in which you're likely to be invalidating your car insurance.

1. You've upgraded your vehicle

If that you do not notify your insurer if you upgrade your car or truck, you might well find that the car insurance is invalid. This doesn't only pertain to the obvious things, like enhancing the engine size your vehicle, it may also affect something as simple as fitting alloy wheels.

2. Allowing your canine to run loose in the vehicle

If you allow your pet to romp around inside your vehicle then, quite obviously it may distract you your driving. If you have any sort of accident then your pet could get at fault and you wouldn't get any money from the insurer.

3. Being in arrears in your instalment plan

You must make sure that all your vehicle insurance instalments are kept up to date as if you have one payment that is certainly outstanding, it can invalidate your car or truck insurance, even if you might have kept up the installments since that particular missed payment.

4. Allowing your MOT to expire

If you forgot to take the car in for an MOT, then that could signify you are will no longer insured. Insurers will experience a lack of a real MOT being an indication the vehicle isn't roadworthy and will contravene the relation to its your car policy.

5. Using your car or truck for business

You should check the small type on some policies as to precisely what is classed as business use and what on earth is not. On some motor polices, your insurance won't cover you for working with your own car drive an automobile to a one-off business meeting. Some insurance coverage don't even cover you for the daily commute.

6. Leaving your keys from the car

Are you one particular people who leave the keys from the ignition of the car sometimes? Even if you leave your car or truck unattended with all the keys within it for just a minute you may be uninsured. If you need to pop back indoors simply because you forgot something, take your automobile keys to you.

7. Car sharing

If you might be taking friends to function in your automobile and they pay out the comission for it, be aware that your insurance carrier does not take that to an indication that that you are running a taxi service. If you start to make money at all outside of car sharing, you will be invalidating your motor insurance.

8. Not abiding by road signs

If you ignore road signs that inform you a road is closed, or will not be suitable for autos, then don't disregard the signs. Even if the road looks OK to you personally, if you have a car accident, you'll not be insured by your insurance if there seemed to be a sign that said not to go there.

9. Starting a fresh job

Be careful when you get a promotion at your workplace or if you modify your job. Different professions are assumed to own different quantities of risk so, what your task title says, may affect your premiums. You need to advise your insurance company if you change your career, or they might not spend when you need these to.

10. Not disclosing the driving reputation a named driver

If you put in a named driver to your automobile insurance policy, you will want to disclose information any accidents they may have had inside past. Failure to express to your insurance carrier about the good a named driver could imply that you are not insured to drive the car.

10 Surprising Things That Can Invalidate Your Car Insurance

Government Posts Proposed Changes to DRS Regulations

The Ministry of Finance has posted proposed changes to Insurance Act regulations to provide for the transition the Automobile Insurance Dispute Resolution System from the Financial Services Commission of Ontario (FSCO) to the Ministry of the Attorney General's Licence Appeal Tribunal (LAT), and the wind down of disputes filed at FSCO. 

Proposed amendments include:

 • The last date for submitting applications for mediation, neutral evaluation, or the appointment of an arbitrator to FSCO will be March 31, 2016. 

 • An application for an appeal to the FSCO Director of Arbitrations will only be accepted where the application for the appointment of an arbitrator was received by March 31, 2016. 

 • As well, an applications for a variation or revocation to the FSCO Director of Arbitrations will only be accepted where the application for the appointment of an arbitrator was received by March 31, 2016. 

 • The Office of the Director of Arbitrations will continue to function until all notices of appeal and all applications for variation or revocation have been finally determined. 

 • Statutory Accident Benefits Schedule (SABS) provisions that apply to the dispute resolution process at FSCO will continue to apply, as they read on March 31, 2016, to all applications that were received by FSCO before the transition date but are not finally determined before that date. The SABS will also be amended, where necessary, to apply to applications filed at the LAT on or after April 1, 2016.

Competition Bureau Supports Ride-Sharing Services

The emergence of Uber and other ride-sharing services has created increased competition for the Canadian taxi industry.  This has created a source of friction for the industry because of what they see is an "uneven playing field."  Taxi operators are required to follow regulatory rules while ride-sharing services largely operate unregulated.  The Canadian Competition Bureau recently weighed in on the subject.

The Competition Bureau recently released a study, Modernizing Regulation in The Canadian Taxi Industry, which concluded that the competition in the sector has benefited consumers.  However, there needs to be a balance between increased competition and the need for regulation.

The taxi industry has operated largely unchanged for decades.  Regulators have created rules to govern price, vehicle safety and insurance requirements.  But the regulatory rules often restrict entry into the sector by limiting the number of taxi licences.  The number of plates usually does not keep up with demand for services which creates artificial scarcity, but also higher prices, poor service and long wait times.

Ride-sharing companies have changed the landscape by offering consumers lower prices, variable pricing (higher fares when demand is high), shorter wait times, and convenience.  The software application used by ride-sharing companies provides automatic payment and the ability to track the number of vehicles available in the local area.  The software also allows consumers to rate drivers which creates an incentive to provide better service.  Low rated drivers receive fewer ride requests.

The innovations introduced by Uber and other similar service providers have benefited consumers.  There is a need for updated regulatory rules so that traditional taxi operators can respond to the competition.  But the one aspect not addressed by the Competition Bureau study is the insurance issue. 

In September 2015, Intact Financial announced plans to work with Uber to create products tailored for the ride-hailing service, after concerns emerged that person auto insurance policies may not cover drivers using their personal vehicles for commercial gain.   In the meantime, Uber claims it has adequate insurance coverage and that every ride on the UberX platform is backed by $5 million of commercial auto insurance, which covers both bodily injuries and property damage stemming from a crash.  However, Alberta government said in July that it had determined the policies do not meet the requirements of the province’s Insurance Act.  It's all very confusing.  

Ride-sharing services are here to stay.  Consumers will benefit but only if the regulatory rules and updated and the insurance issues are addressed.

Insurance News - Wednesday, December 2, 2015

Here are the leading auto insurance headlines from ONTARIO AUTO INSURANCE TOPICS ON TWITTER for Wednesday, December 2, 2015:

• There is a substantive risk associated with relying on insurer examination reports to deny serious claims which can be compounded by taking a matter to arbitration without having sufficient evidence to support a position.
• Why auto insurance rates are so high in the Greater Toronto Area.
• There is a down side to low gas prices - more vehicle traffic and more accidents.
• LAT releases update on transfer of auto insurance disputes from FSCO. LAT still planning on accepting disputes beginning April 1st.
• Consumers big winners in new law regulating towing operators.
• Ontario’s auto insurance overhaul needs to put consumers first according to a former New Jersey regulator.