04/09/2020
A COVID-19 Update
INSURANCE
Walkington Insurance is open as usual from 9:30am to 4:30pm Monday to Friday, and will be here to assist you with your personal and commercial insurance questions, as well as to assist you with any challenges you are currently facing financially with respect to your policies of insurance caused by the COVID-19 pandemic. Until further notice, all assistance will be offered by email and telephone. All in-office appointments are suspended indefinitely for the health and safety of the brokerage team as well as all of our fantastic clients. All of our insurers have initiated contingency plans to ensure that full claims services are still being provided in an uninterrupted way.
Your insurance company is offering its policyholders assistance financially as well during this difficult time.
Here are some strategies to assist you with any challenges you currently face:
1. Clients being directly affected financially by COVID-19 can request premium payment deferral from their insurance company by contacting the insurance company with your broker’s help. The accounting representatives are available to discuss suspending your payments for policies until a later date, giving you the financial help you need right now. The process is easy. Response times are rapid. Please have your policy number ready for the fastest service. Contact us to obtain the appropriate phone numbers for your insurance company’s accounts/billing department.
The accounting dept. cannot make policy coverage changes. Call Walkington Insurance for assistance of that type.
2. Clients may find that the normal uses of their home or their vehicles is changing in response to COVID-19. Contact Walkington Insurance to discuss alterations in the way vehicles are rated, as this may lead to short term savings for you. Perhaps you are no longer commuting, or now you need to use your car to commute, instead of utilizing public transit. Maybe you are using your vehicles for delivery, or you are assisting others by looking after their children in your home temporarily at this time. Call us and we can assist you in understanding how your insurer is responding to this and other new developments/challenges as they happen.
3. Clients who find they are not driving vehicles at all can call to discuss the guidelines for removing or suspending coverage temporarily for situations where additional vehicles will be parked or stored.
4. Lastly, our brokers are monitoring the Ontario Insurance marketplace very closely and will be able to advise you as to potential additional assistance coming from your insurance company as discussions happen with regulators and the Provincial Government. These discussions may lead to new initiatives such as partial premium refunds and/or rebates on auto policies. After all, the current risk exposure to the auto insurers has changed with so many vehicles no longer on our roads. Our office will do our best to keep you informed.
We are all in this together and we will get through it.
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Stay safe everyone.
Mark Campbell, BA, CAIB
Insurance Broker