By Vincent Gaudreau, CIB, FCIP, CRM, insurance broker and RCCAQ chair

Up to 60% more: that's what some auto dealers are charging their clients when they purchase FPQ5 coverage. We will keep on denouncing this situation along with various illegal practices. But to increase the impact of our efforts, we need your support!

Overview: replacement insurance

Background

•On average, consumers pay 60% more for replacement insurance purchased from an auto dealer than they would from a broker.
•Consumers are often forced to replace their vehicles at the same dealership.
•Some auto dealers are engaging in activities reserved for certified professionals.

Steps taken

•The RCCAQ has been reporting these illegal practices to the AMF since 2012.
•A dossier of complaints was submitted to the AMF in March 2013.
•Numerous representations have been made to the AMF to protest this situation.
•The RCCAQ has appeared in the media on multiple occasions in order to emphasize the importance of protecting consumers.
Results
• In February, the AMF announced that nine auto dealers would be fined a total of more than $115,000.
•We will continue to lobby the AMF and the provincial government to ensure either that CFOs' practices are properly regulated or that auto dealers' right to sell FPQ5 coverage is revoked.

How you can support our efforts

• If you become aware of any illegal practices, report them by taking these steps.
• Download, print out and distribute these brochures to your clients.

Other issues at stake

Would you like to know what other issues are at stake? Please consult the list and show your commitment to our cause by renewing your RCCAQ membership!