Can you pause your car insurance?

Have you ever wondered about pressing pause on your car insurance? Maybe you're setting off on an extended vacation, storing your summer car for the winter months, or have decided to give public transportation a try. In the article below, we discuss whether pausing your car insurance could be the right option for you.

Can you pause car insurance?

Yes, you can pause your car insurance – and reduce your premium – if you won't be driving for 45 days or more. A Suspension of Coverage endorsement temporarily suspends your car insurance for the use of your vehicle, while keeping your existing protection for a variety of non-driving risks. Non-driving risks may include theft, vandalism, floods, and more, depending on your coverage. Therefore, if you know you're not going to be driving your car for an extended period, you may want to consider this endorsement to save money and keep your car safe while you're not using it.

Pause your car insurance using MyInsurance

  1. Log into your MyInsurance account. Select 'Modify coverage' and click on 'Store your vehicle (suspend your coverage).'
  2. Select a start and end date to identify when you'd like to pause your car insurance using the Suspension of Coverage endorsement. Edit the driver assignment and vehicle usage if required.
  3. Review your updates and confirm the changes to suspend your car insurance.

When you're ready to get behind the wheel again, log into your MyInsurance account and choose a reinstatement date to remove the Suspension of Coverage endorsement. Remember, the Suspension of Coverage endorsement doesn't provide the minimum mandatory car insurance required by your province to operate your vehicle, so your coverage will need to be reinstated before you can get back on the road.

Login to MyInsurance to review your coverage.

Can't I just cancel my car insurance since I won't be driving my car?

Yes, you're free to cancel your car insurance policy with your insurer at anytime. However, you may be charged a short-rate cancellation fee – and you won't have any coverage in place for your vehicle.

Insurance can offer protection against a range of risks, including fire, hail, falling trees, theft, vandalism, and floods. Without a car insurance policy, you'd be responsible for paying to repair or replace your vehicle if it's damaged or stolen while you're not using it. Plus, when you're ready to begin driving again, you'd need to spend time comparing car insurance quotes and purchase a new car insurance policy before you can resume using your vehicle.

If you're looking for ways to save on car insurance, a TD Insurance advisor can help. Contact us to find car insurance that fits your unique needs – or get a quote online in minutes.

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The content on this page is for general information purposes only and does not constitute legal advice. Coverages described herein may be subject to additional eligibility criteria, limitations and exclusions. In the event you make a claim, potential indemnification is also subject to the receivability of the claim and the type of coverage you bought.

In the case of conflict between the content on this page and your policy wordings, your policy wordings shall take precedence. Please speak to an Advisor or consult your policy wordings for further details.