Understanding OPCF #39 and Why It’s Important

When it comes to car insurance, the many acronyms and technical terms can sometimes make our heads spin. One such term you might have come across is OPCF #39. If you’re like many people who find insurance jargon a bit confusing, don’t worry—this blog will break it all down for you and help you decide if OPCF #39 is right for you.

What is OPCF #39?

First, let’s demystify the acronym. OPCF stands for Ontario Policy Change Form. Each of these forms allows drivers to modify their insurance policy in specific ways, providing additional coverage or addressing particular needs.

 OPCF #39 specifically refers to Accident Waiver Coverage in Ontario and protects drivers from the financial consequences of their first at-fault accident.

Normally being in an at fault accident can result in a significant increase in insurance premiums. However, with OPCF #39 in place the insurer promises to “forgive” the first at fault accident. So your premium won’t be increased due to the at fault accident like it normally is.

Why is OPCF #39 Important?

1. Financial Stability: Considering that at-fault accidents can lead to a hefty surcharge on your insurance premiums for several years, OPCF #39 can save you a significant amount of money.
2. Peace of Mind: Knowing that your first mishap behind the wheel won’t result in a financial penalty can provide immense peace of mind. This is especially valuable for newer drivers who might be more prone to mistakes.
3. Long-Term Savings: By avoiding the premium increase, you’re essentially ensuring that your insurance remains affordable in the long run.

Is this right for you?

Remember, every driver’s situation is unique, so make sure to evaluate your own needs and consult with your insurance broker to discuss the add-on is right for you.

Your insurance broker is the best person to reach out to about questions and find out if you’re eligible to add this to your policy. There might be an additional premium for this coverage, but many find that the cost is worth the benefit.