What are digital insurance slips?
There have been a number of developments over the years that have made insurance easier for both you and your insurer. One of those developments is the ability to digitally store your proof of insurance, or “pink slip”, on your phone. Last year the Ontario government made it legal to securely add your proof of insurance to your smartphone, ensuring that you will always have it on you.
What is the digital slip?
If you are unsure as to what a digital insurance slip is, let us explain. In short, the digital slip essentially replaces the physical pink slip that you usually keep in your vehicle’s glove compartment. The pink slip, and now the digital slip, is your proof of auto insurance that you are legal required to have on you when you drive. If you are pulled over, or are involved in an accident, you must provide both your licence and your proof of insurance.
How does it work?
Previously it was common practice to store your pink slip in the glove compartment of your vehicle, that way you always had it when you drove. However mistakes happen and papers can be misplaced, so it is handy to now be able to also store it on your smartphone. Many insurance providers now offer their customers a smartphone app their customers can add to their phones, making claims easier and providing them a number of other benefits. One of the functions is also the ability to store your proof of insurance on your insurer’s app, so it is always accessible whenever you need it. The digital copy contains all the same information that your physical pink slip had, and is a legal way to prove that you have valid auto insurance. If you are interested in making the switch, it would be best to speak with your broker to see if you insurer offers the digital slip and how to put it on your smartphone device.
What are the benefits of going digital?
Diving into the digital world of insurance can have a fair few benefits. One of them would be the convenience of having your proof of insurance at your fingertips, as well as the peace of mind that it brings. Gone are the days of worry if you remembered to put the pink slip in your glove compartment. If you are ever pulled over you are easily able to access your proof of insurance straight from your phone, even if you do not have the physical copy on you. So in addition to being convenient, it can also save you money, sparing you from acquiring an added fine for not having your pink slip on you, and the affect that may have on your insurance premiums. Another benefit is the ability to easily update your insurance information without having to wait for your updated pink slip to arrive. And, probably the benefit that will get you the most excited, is a discount it may give you on our premiums. With the Ontario government putting this new program in place, they have made it mandatory that insurers offer a small discount to those who choose to go digital with their proof of insurance.
Why do you need proof of insurance?
As mentioned above, it is mandatory for you to carry your proof of insurance with you while you drive. Because it is illegal to drive a car in Canada without coverage, you must be able to prove that you have valid, up to date auto insurance. If you are pulled over and you cannot provide both your licence and proof of insurance, then you can receive a heavy fine, which not only puts you out at the time, but also can cause you issues with your insurance down the road.