Frequently Asked Questions – Auto Insurance – General

The provincial government through the Financial Services Commission of Ontario (FSCO) has standardized automobile insurance in Ontario. FSCO has mandated minimum standard limits of coverage for all policies. You do have the option to increase your coverage and deductibles from these minimum limits. In addition, the price and service offered can vary widely.

1. Monthly Pre-Authorized Chequing – join our convenient pre-authorized chequing payment plan which takes an automatic withdrawal directly from your account monthly (a void cheque and authorization form are required).
2. Payment plans by cheque, money order or telephone/Internet banking:
   1. Full Payment Plan – full amount paid upon renewal
   2. Two-payment Plan* – ½ due upon renewal and ½ due within 30 days
   3. Three-payment Plan* – ⅓ due upon renewal, ⅓ due at 30 days and the last ⅓ due at 60 days
   4. Four-payment Plan* – ¼ due upon renewal, ¼ due at 30 days, ¼ due at 60 days and the last ¼ due at 90 days

* Note: When paying by cheque or money order for the Two, Three or Four payment Plan, a $10 service charge will apply to your first payment (post-dated cheques required with initial payment).

If you have any questions regarding your payment options, please call an OTIP service representative at 1-800-267-6847.