Ontario Policy Change Form (OPFC 19A)

What is the definition of OPCF 19A Insurance Coverage? Below is an excerpt from the FAQ Section of the Insurance Bureau of Canada for Ontario:

Is it possible to insure my vehicle for a specific amount?

Yes. A special endorsement “Agreed Value of Automobile (OPCF 19A)” is available. The endorsement lists the automobile(s) and indicates the value which usually is supported by an appraisal.

The standard policy pays up to the Actual Cash Value (current value of a vehicle). With this endorsement the company agrees to pay up to the value indicated under “Loss or Damage Coverage (optional)” when the loss occurs caused by a peril insured against.

If a damaged part is no longer available, the company will pay you the manufacturer’s last listed price.

The specialty “Classic and Special Interest” policies normally have this endorsement as standard equipment. If you chose to use a normal policy, but you wish to have a 19A Endorsement, you must specify this with your agent. Many clients get told that they have “Full Coverage”, this is usually not the case. If the policy you receive does not state a 19A Endorsement, you do not have it. An OPCF 19 Endorsement is not the same, this one limits the payment at time of loss and invokes the ACV clause, “Actual Cash Value at the time of loss”.

Real Life OPFC 19 Policy Example

Q: I have a car manufactured in 1990 (now considered a classic car since it is 20+ years old) and I am wondering if a classic car appraisal would be beneficial for me as far as insurance?

A: A professional car appraisal could benefit you, but the benefit will depend on what type of auto insurance policy you have (or that you will get): an OPFC 19 policy or 19A policy.

If you go on a “classic or special interest car” insurance policy, the premiums are very low and the coverage is the best: this is a 19A endorsement.

If you go on a “regular” vehicle insurance policy, you can still request 19A endorsement coverage. If you go with a regular auto policy, informing the insurance company of the quality of the vehicle will help if any future dispute was to arise. A car appraisal done by an expert is the best way to inform an insurance company as to the vehicle’s quality and true fair value.

Contact us to arrange for your professional classic car appraisal should you require it. to insure your classic car is fairly valued for insurance purposes.