Direct Compensation - Property Damage (DCPD)
Direct Compensation - Property Damage (DCPD) came into effect for automobile accidents that occurred in Prince Edward Island on or after October 1, 2015.
What does DCPD mean?
Under DCPD, consumers will be required to settle their property damages with their own insurer regardless of fault. DCPD will cover the portion for which you are not at-fault. Collision coverage, if you choose to purchase it, will cover the portion for which you are at-fault.
This is beneficial to consumers because, unlike the old system, consumers will only have to deal with their own insurer to settle property damage claims. DCPD is also beneficial to both consumers and industry, because it simplifies the administrative process which speeds up the claims process.
DCPD has previously been implemented in Nova Scotia, New Brunswick, Quebec and Ontario.
DCPD is not "no-fault" insurance. Just like the old system, fault must be determined as at-fault accidents may affect your rates.
Consumers are reminded that in the event of an accident, just as under the old system, be sure to obtain the other party's proof of insurance information (insurer and policy number with a valid date). You will need that information for DCPD to apply.
For more detailed information review the links at the Resources Links on the right of this page.