If a vehicle will sit unused during a long trip or work assignment, review the insurance before stopping payments or cancelling. A parked car can still suffer theft, fire or other damage, and financing or lease terms may require ongoing protection.
Tell your broker the storage dates, location and whether anyone might use or move the vehicle. Compare keeping the policy unchanged, suspending selected coverage and other available arrangements. Savings require an actual quote; there is no universal $1,000 saving.
Confirm that it will genuinely stay out of use
An occasional family errand, airport pickup or early return can change the plan. Even a short drive requires confirmation that the necessary coverage has been restored.
Check storage-location rules and financing, lease or parking agreements. Plates, registration and insurance are related but separate matters. Follow current ServiceOntario requirements rather than assuming a generic “plate suspension” process exists. Ontario’s registration guidance
Option 1: discuss OPCF 16
OPCF 16 suspends specified use or operation coverage and listed Collision or Upset protection while the vehicle is continuously out of use, until reinstatement. Its scope includes relevant liability, accident benefits, uninsured automobile and DCPD protection. Check the affected vehicles and remaining coverage in the actual endorsement. FSRA’s OPCF 16
The 45-day provision is important: the standard form provides no premium refund for a suspension shorter than 45 consecutive days. It does not require you to wait until the car has already been parked for 45 days before requesting the arrangement. Confirm availability, effective date and refund calculation beforehand.
The endorsement does not add Comprehensive or Specified Perils coverage you never purchased. If you want theft or fire protection to remain, verify the existing coverage, retained perils and deductibles.
Option 2: ask about other storage arrangements
An insurer may offer an arrangement retaining appropriate non-driving protection. “Comprehensive only” is not a standardized option available to every household with every insurer. Do not assume a second fully insured vehicle is always required, or that parking alone makes you eligible.
Confirm the location, permitted duration, any movement of the car, retained risks and return-to-road process. Comprehensive does not cover every natural event, mechanical problem or deterioration. FSRA’s optional vehicle-damage guide
Considering full cancellation?
Ask for the cancellation cost or refund for the proposed date. Midterm cancellation can involve short-rate or other applicable adjustments; a refund may not equal a simple proportion of unused months. Monthly instalments do not necessarily mean a month-to-month contract.
Not every voluntary gap automatically causes higher future premiums. Ask how the actual circumstances affect a new application or discounts. Stopping payment is not formal cancellation, and cancellation for non-payment can affect future pricing. FSRA’s cancellation and payment guidance
Consider who would bear a theft or fire loss while no vehicle-damage coverage is in place.
Arrange reinstatement before you drive
OPCF 17 reinstates coverage suspended under OPCF 16. Contact your broker ahead of time and obtain confirmation of the restored protection, effective date and time, premium adjustment and insurance documents. Do not assume your travel return date automatically restores coverage. FSRA’s OPCF 17
Do not drive or let someone else use the vehicle beforehand. If your plans change, update the insurance arrangement first.
Information to prepare
- Expected storage and return-to-use dates
- VIN and exact storage location
- Whether anyone may drive or move the car
- Financing or leasing insurance requirements
- Loss protection you want to retain and acceptable deductibles
Contact A-Z Insurance to compare the available arrangements and plan both the suspension and reinstatement.
Phone: 905-707-2929. Email: info@azinsure.ca.
This article provides general information checked on October 11, 2026. Eligibility, refunds and savings are not guaranteed. Applicable policy wording, endorsements, contracts and legal requirements govern.