When you request and receive a quote from an insurance brokerage or company, you may not understand the process that occurs behind the scenes. By now, you may have learned what affects your auto insurance premium and simple ways to get discounts on your insurance. What you may not know is that every time you are requesting a new car insurance policy, the insurance company will run an “Autoplus” report. An Autoplus report is an important piece of the insurance process and is a powerful tool insurance companies use to create your auto insurance policy. What your Autoplus report reveals about your driving history, can impact the price you pay for your auto insurance.
Autoplus is a large database with information on all your car insurance history. In Ontario, all insurance companies are subscribed to the Autoplus database. This includes all of the companies who have insured you in the past. (There are reports that go back decades!)
If you have ever been in an auto accident or made an insurance claim, it has all been noted on your Autoplus report. If a driver has ever made a claim against you, this will also be noted. It also notes if you’ve had a record of non-payment, non-disclosure or misrepresentation that led to a policy cancellation. Lastly, it includes a list of all the vehicles you’ve insured. These reports are extremely accurate, detailed and precise and offer a great deal of value to insurance companies that are creating auto insurance plans for you.
All it takes is a quick click! When your driver’s license number has been inputted, the Autoplus request generates your report and delivers it to the insurance company or brokerage.
If you’re interested in obtaining your own report, you can do so by filling out information and putting in a request. Take into account that the report will take around two weeks to be delivered to you by mail. What’s great about ordering your own report is you’ll be provided with all your information in one solid report. This way, should you ever call an insurance brokerage or company, you will have the valid information and the right answers to their questions.
Human memory is not fool-proof so having something to help jog your memory and keep you organized can be a good thing. Alarmingly, many drivers have learned through their Autoplus reports of accidents being reported they were involved in. These are scenarios in which both drivers agree to not put their claims through their insurance and settle the damage costs with one another. While this is a popular decision due to worries that accidents can negatively affect insurance rates, it can backfire on the driver should the other driver report the accident anyway. Having accidents reported that are deemed your fault and hiding it surely does not look favourable on your report to insurance companies.
Being honest about your driving history will ensure you receive the best service and the best auto insurance policy for you. Autoplus reports will always reveal the true history of a driver, so it’s a good idea to always remain honest and transparent about your driving history. There are many consequences should you be caught misrepresenting yourself. For example, your insurance claims can be denied, you may face higher premiums in the future, your entire policy can be cancelled immediately and there will be a mark on your record. Having a mark on your record tells insurance companies you are a high-risk client and have been fraudulent in the past. Unfortunately, this can lead to extremely expensive premiums and less chances that any of the insurance companies choose to insure you. As insurance fraud in Canada can cost up to $2 billion every year, those who are caught involved with fraud and proven guilty are facing stricter punishments.
To avoid dire consequences, it’s always important to remain honest about your driving history with insurance companies who want to protect you. Your Autoplus report will reveal your entire driving history and makes the working relationship between you and your insurance company or brokerage much more easy, simplified and organized. If you’re looking for auto insurance in Ontario and can’t remember your exact driving history, consider ordering your own Autoplus report. This will make looking for auto insurance an easier process for you and the insurance brokerage you choose to work with. If you have any questions about auto insurance in Ontario or would like to receive a quote, reach out to Oracle RMS today!