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Coronavirus disease (COVID-19): Supporting our policyholders and brokers

Updated July 12, 2021

As a Canadian Mutual born out of the adversity of the late 1800s, we recognize that it is in times like these that Canadians need us the most. Our history, like that of our country, has been one of working together in good times and bad.

Recognizing that our policyholders are in need of reducing their household costs, we have worked closely with your insurance brokers to implement options to help with your expenses during this time. Your insurance broker can walk you through the many options now in place. We will continue to communicate with your broker and provide updates on our website as more options become available.

Options for premium relief

If you’re having financial difficulty and are unable to pay your insurance premium, please contact your insurance broker who can help set up flexible payment terms during this time. There are many ways we are working with your broker to help you, including the deferral of premiums, to maintain your insurance coverage during the crisis.

Reducing premium costs for your vehicle

If your personal vehicle is no longer in use, we encourage you to contact your insurance broker to discuss options to reduce costs on your automobile coverage. Reducing coverage can generate up to 75% or $80 in savings each month for every vehicle.

If you are not currently using your vehicle for business or commuting to work, but are continue to use it for groceries or medical appointments, we encourage you to call your broker to update your coverage to reflect your reduced vehicle usage to help you save money each month. If you are working from home, self-quarantining or following social distancing guidelines, this will allow you to only cover what you need.

For those with commercial vehicles whose businesses may have slowed down, you can remove certain driving coverages and pay less for your commercial business insurance.

A number of our commercial policyholders are responding to new or developing business opportunities in the COVID-19 environment. Please contact your broker to allow us to update your insurance policy to reflect this change.

Coverage allowances

If you have a claim underway and been unable to have your car or home repaired due to vendor closures or parts and materials unavailability, we will work with you directly to explore options to extend car rental and additional living expense coverage until your property is fully repaired and usable.

If you’re working remotely as a result of the COVID-19 outbreak, your personal insurance policy can provide up to $5,000 in coverage for business property on your premises. If you are working from home and have your employer’s property with you, it may be insured up to $5,000 if something happens to it in your home and it is not insured elsewhere.

Reduction in business revenues

If you have commercial business coverage and your revenues are down due to the pandemic, please contact your broker to help you update your policy. We will be re-calculating your premiums to reflect the change to help you pay less for your coverage during the pandemic.

Commercial businesses that have closed temporarily

If your business operations have been temporarily halted due to the pandemic, we will not consider your commercial buildings as vacant or unoccupied for coverage purposes during the COVID-19 crisis. If you’re unable to access your seasonal or secondary homes and are restricting your movements due to the pandemic, we are waiving the attendance requirements until the crisis has ended.

Supporting our communities

Supporting our communities is one of our defining values. Our Caring Together campaign provides financial support to those affected by COVID-19 across Canada and the US. With this campaign, we increased our 2020 financial commitment to communities by over 40%.