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IMPORTANT CHANGES TO AUTO INSURANCE IN ONTARIO!
Effective September 1, 2010, there are significant changes to your automobile policy. The Ontario government introduced new reforms which will give you more choices over the coverages and price you pay for your auto insurance. You can now customize your policy to suit your specific needs, keeping in mind this important information:
- The limit for standard Medical & Rehabilitation Expenses will be reduced from $100,000 to $50,000 in your renewal policy.
- If your income is over $29,000 and you do not have disability coverage, we recommend increasing the Income Replacement Benefit.
- The limit for standard Attendant Care Expenses will be reduced from $72,000 to $36,000 in your renewal policy.
- If you are the primary caregiver to a dependant and do not have benefits, we recommend purchasing this optional benefit.
Information for Existing Policy Holders
When your auto policy is up for renewal, it will be issued with the new level of standard accident benefits. For that reason, it is important for you to understand how your standard benefits will automatically change:
New Accident Benefit Schedule
Summary of Important Changes to Your Policy
Information for New Policy Holders
Are you purchasing a new auto insurance policy? LEARN MORE about your options...
Important Links
Ontario Auto Insurance Reform (Insurance Bureau of Canada)
Providing More Choice to Customers (Financial Services Commission of Ontario)
General Information About Auto Insurance
Ontario motorists are required by law to have the following basic coverages:
- Liability
- Accident Benefits
- Uninsured Automobile
- Direct Compensation - Property Damage
Liability
Liability coverage helps protect you financially if you are found legally liable for injuring or killing someone, or for causing damage to property in an automobile incident.
Accident Benefits
This coverage can provide benefits such as replacement of lost income and payment for medical, rehabilitation, attendant care expenses not covered by government health insurance plan along with spousal benefits if you are killed in an accident.
Uninsured Automobile
This coverage provides benefits to you or other insured persons are injured or killed by an uninsured motorist or hit-and-run (unidentified) driver. It also covers damages to your automobile if caused by an identified uninsured motorist.
Direct Compensation - Property Damage
This provides benefits to repair or replace your vehicle or its contents if you are involved in an accident within Ontario, where another vehicle that is licensed and insured in Ontarion, is at fault. You may submit a claim directly to your insurance carrier, even though you are not at fault.
Additional recommended coverages include:
Collision Coverage
Comprehensive Coverage
All Perils Coverage
Specified Perils
Refer to the Glossary of Insurance Terms for full definitions of auto coverages.
Make sure you have enough coverage. Talk to a Merit Auto Insurance broker and ask about getting the right coverage to protect you, your family and your vehicle.
Greater Toronto Area: (416) 497-5556
Waterdown: (905) 690-6888
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