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Cancel OPTIOM INSURANCE
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Cancellation service #1 in Canada
4.9Calculated on 5.6K reviews
I hereby notify you of my decision to terminate the contract relating to the Optiom Insurance service.
This notification constitutes a firm, clear and unequivocal intention to cancel the contract, effective at the earliest possible date or in accordance with the applicable contractual period.
Please take all necessary measures to:
– cease all billing from the effective date of cancellation;
– confirm in writing the proper processing of this request;
– and, if applicable, send me the final statement or balance confirmation.
This cancellation is addressed to you by certified e-mail. The sending, timestamping and content integrity are established, making it a probative document meeting electronic proof requirements. You therefore have all the necessary elements to proceed with regular processing of this cancellation, in accordance with applicable principles regarding written notification and contractual freedom.
In accordance with personal data protection rules, I also request:
– deletion of all my data not necessary for your legal or accounting obligations;
– closure of any associated personal account;
– and confirmation of actual data deletion according to applicable privacy rights.
I retain a complete copy of this notification as well as proof of sending.
Important warning regarding service limitations
In the interest of transparency and prevention, it is essential to recall the inherent limitations of any dematerialized sending service, even when timestamped, tracked and certified. Guarantees relate to sending and technical proof, but never to the recipient's behavior, diligence or decisions.
Please note, Postclic cannot:
- guarantee that the recipient receives, opens or becomes aware of your e-mail.
- guarantee that the recipient processes, accepts or executes your request.
- guarantee the accuracy or completeness of content written by the user.
- guarantee the validity of an incorrect or outdated address.
- prevent the recipient from contesting the legal scope of the mail.
Cancellation Optiom Insurance: Easy Method
What is Optiom Insurance
Optiom is a Canadian specialty insurer and broker that offers add‑on automotive coverage (for example, gap protection, deductible reimbursement and related dealer‑sold products) through dealers and independent agents. Policies are marketed as supplemental products to provincial auto insurance and vehicle financing, with features and claims processes governed by the policy wording and provincial insurance regulation.
How to cancel Optiom Insurance
Cancellation requirements can depend on the specific policy endorsement and whether the policy is financed. Optiom’s endorsement and customer reports indicate a 30‑day cooling‑off window for a full refund, and that Optiom typically requires either a signed cancellation form or a verbal confirmation (phone or in‑person) to process a cancellation. Email-only requests have been reportedly refused in some cases. To protect your rights, use a method that provides proof of delivery and keep copies of all communications.
- Step 1 - Check your policy endorsement and confirm whether a total‑loss claim has been made; some endorsements prohibit cancellation after a total‑loss claim.
- Step 2 - Decide your method: call Optiom to request the cancellation and ask what signed form or next steps they require; follow up in writing. If the policy is financed, advise your finance company.
- Step 3 - Send a dated, signed written cancellation to Optiom Inc., 1700, 707 - 8th Avenue SW, Calgary, Alberta, T2P 1H5, Canada using registered mail (raccomandata A/R) to ensure proof of delivery and retention of tracking/receipt.
- Step 4 - Request written confirmation of cancellation and a written statement of any refund amount or amounts payable to a finance company, and note the effective cancellation date.
- Step 5 - If you purchased via a dealer, confirm with the dealer whether additional steps or documentation are required and request copies of any dealer‑side paperwork.
What happens when you cancel
When Optiom processes a cancellation your coverage ends on the effective cancellation date specified by the insurer or requested by you. After cancellation you will no longer have policy benefits or access to new claims under that policy. The insurer will calculate any unearned premium and determine whether a retained premium or cancellation fee applies. If the policy was financed, any refundable portion of premium is typically sent directly to the finance company rather than to the named insured.
Will I get a refund?
Under Optiom’s policy endorsement, cancellation within 30 days of the effective date entitles the insured to a full refund of the total amount paid (provided no total‑loss claim was made). If you cancel after 30 days, refunds are calculated on a prorated basis for unearned time on risk and are reduced by any retained premium and applicable cancellation fees. For financed policies the refundable portion is normally remitted to the finance company; you may only receive a refund to yourself if no finance agreement applies or if the finance company returns funds to you. Disputes over refund calculation (including retained premium amounts and finance offsets) are a common source of complaints.
Optiom Insurance plans and pricing
| Plan | Price (CAD) | Period | Features |
|---|---|---|---|
| Optiom Prime (average vehicle gap coverage) | C$25.00 - C$35.00 | Monthly | Replacement cost (gap), deductible reimbursement (up to $500), rental reimbursement, key‑fob replacement, consistent premium over term |
Your consumer rights in Canada
Provincial insurance acts permit the insured to cancel a policy at any time by request; insurers must acknowledge and process terminations in accordance with the applicable provincial rules (for example, specified notice periods for mailed notices versus personal delivery). Optiom’s own endorsement establishes a 30‑day cooling‑off right for a full refund (subject to the endorsement conditions). If you cannot resolve a dispute with the insurer, Optiom’s complaints page references escalation paths such as Lloyd’s Underwriters, the General Insurance OmbudService (GIO), the Autorité des marchés financiers (AMF) for Quebec residents, and federal bodies such as the Financial Consumer Agency of Canada (FCAC).
Customer experiences
Customer feedback is mixed. Optiom’s testimonials highlight fast claims handling, helpful staff and timely deductible reimbursements for some clients. Conversely, complaints logged with consumer channels (including the BBB and online forums) cite instances where customers believed they had cancelled but continued to be charged, or where email/unsigned cancellation requests were not accepted. Other concerns include confusion when purchase is dealer‑facilitated (differences between dealer vs. independent agent processes) and mismatched expectations about replacement terms and policy limits.
Documentation checklist
- Policy number and insurance documents (endorsement that shows cancellation and refund terms)
- Signed, dated cancellation request or signed cancellation form (if provided by Optiom)
- Proof of delivery (registered mail receipt, tracking number, or in‑person acknowledgement)
- Copy of any verbal cancellation confirmation (note date/time and agent name) and follow‑up written communication
- Financing agreement details and contact information for the finance company
- Identification (driver’s licence or other ID) and dealer paperwork if purchased through a dealer
Common mistakes
Common errors include relying solely on an email or informal voicemail without obtaining a signed form or proof of acceptance, assuming cancellation will automatically produce a refund without checking for retained premiums or finance offsets, and failing to notify the finance company when the policy is financed. Another frequent misunderstanding is assuming add‑on products are part of a provincial insurer (for example, misinterpreting dealer communications as provincial coverage) which can lead to surprise limitations when filing claims or cancelling.
Comparative recap
| Method | Refund | Difficulty |
|---|---|---|
| Call Optiom (verbal request) | Possible full refund if within 30 days; otherwise prorated minus retained premium and finance offsets | Medium - High (some reports that verbal requests alone were not accepted without signed confirmation) |
| Signed form / In‑person cancellation | Full refund within 30 days; prorated thereafter subject to policy terms | Low (preferred by Optiom and often accepted without dispute) |
| Registered mail (written notice) | Full refund within 30 days; prorated thereafter; strong proof for disputes | Low (best practice for proof of delivery) |
| Dealer‑initiated cancellation | Varies - depends on dealer practices and how policy was issued | Medium - High (reports of inconsistent dealer handling) |
After cancelling
After you cancel, request written confirmation that includes the effective cancellation date and refund calculation, and track whether any refund was paid to you or to a finance company. Monitor bank or credit card statements for the refund and contact the finance company to confirm whether they received any refunded premium. If Optiom’s response is unsatisfactory, you may escalate: start with Optiom’s complaints process, and if unresolved consider filing with the General Insurance OmbudService (GIO), Lloyd’s complaints channels (Lloyd’s complaints), the Autorité des marchés financiers for Quebec residents (AMF), or the Financial Consumer Agency of Canada (FCAC). For company contact and complaints guidance see Optiom’s complaints page: Optiom - Complaints. For consumer reports and examples see the Better Business Bureau entry: BBB - Optiom complaints. For the specific endorsement language referenced regarding refunds, see the policy endorsement (source copy): policy endorsement (scribd).
Address
Send written cancellation (registered mail recommended) to:
Optiom Inc.
1700, 707 - 8th Avenue SW
Calgary, Alberta, T2P 1H5
Canada