I am with TD Monex and have basic insurance coverage, however i will be away for the next 3-4 months or so, I understand i can change the coverage to only cover say fire and theft etc.

But when i do return back and resume my regular coverage, should my monthly payment get back to what it originally was ? I am confused as i spoke with one of the customer service rep and he said - what ever i will not pay in the next 4 months would have to be paid back over the remaining period of the policy.

This means if i am paying $100 regularly and for the next 4 months i pay $50 (for example) - when i return and if i have 5 more months to go before the policy expires, my regular payment will be $140 for the remainder of the months ... I am not getting it at all.

If this is the case why the heck would one bother to change the coverage any ways !? Does any one know what other options can come into play while i leave for vacation - I do not want to cancel my policy as i will be back hopefully and will reusme. All advice welcome !!

Thank You all

Hi Cougar !
The statement by your agent is not true at all . I had done it many times and saved a plenty amount on insurance by taking off all unnecessay coverage during vacations . I can assure you that if you call them again another agent will sing a different song . If you chose to have fire and theft coverage only - u pay for it only .
But pls do remember that you are now even allowed to move your vehicle on your driveway during this policy is enforced . I know quite a bit details about this particular issue . In case you need any specific querry , pls feel free to drop me a PM
Ashwani

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