Important changes to your auto insurance policies

Effective June 1, 2016, your auto insurance benefits will be changing!  It’s important to learn these changes and make important coverage decisions BEFORE you renew your policy.

The Ontario government introduced changes to the auto insurance system in order to make insurance more affordable.  These changes will give you more choices when selecting coverage options.  We warn that with choices come consequences: the savings you incur may result in less coverage.

Many of the changes outlined below affect “Statutory Accident Benefits“, which are essentially the compensations you receive if injured in an auto accident, regardless who is at fault.  Some benefits have been reduced and increased coverage options have also changed (or even eliminated).

Here are the most significant changes (effective June 1, 2016):

Non-Catastrophic Injuries

  • Previously, Medical Rehabilitation had a $50,000 limit and Attendant Care had $36,000
  • Medical & Rehab and Attendant Care have been combined and reduced to a total of $65,000
  • You have the option to increase the benefit to a total of $130,000

Catastrophic Injuries

  • Previously, Medical Rehabilitation had a $1,000,000 limit and Attendant Care had $1,000,000
  • Medical & Rehab and Attendant Care have been combined and reduced to a total of $1,000,000
  • You have the option to increase the combined benefit to a total of $2,000,000

All Injuries

  • Previously, Medical, Rehabilitation and Attendant Care had no additional coverage
  • You can choose to increase the combined non-catastrophic benefit to $1,000,000 and the catastrophic benefit to $2,000,000

Your coverage will default to the new lower standard benefits if your auto insurance policy is issued or renewed on or after June 1, 2016.  Check with your insurance broker to make sure you won’t be losing coverage upon renewal.

Other important changes will come into effect so check back here often to stay up-to-date on your benefits and coverage.

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