We know how complicated auto insurance can be. It seems that every time you turn around, they are changing the rules. Well that’s because, they are. Unfortunately, we can’t change that however, we can do our best to help you understand what coverage you need and why you need it.
The Ontario Government mandates that everyone who wants to drive a car must have A valid drivers license, and Insurance. A brief outline of the coverage is as follows:
Third Party Liability: This coverage protects you if someone is injured or killed or their property is damaged. It will pay for legitimate claims made against you up to the limit of your coverage, and will pay the costs of settling the claim.
Accident Benefits: Provides benefits if you are injured in an auto accident regardless of fault. These include, medical care, rehab and attendant care, replacement of your income to a certain limit, an allowance when a caregiver is injured and funeral expenses and death benefits when a person dies in an accident. These limits will change with the new Auto Reform that goes in to effect on June 1st, 2016. To read more about this, click here.
Uninsured Motorist: Protects you if you are injured by another driver that happens to not have insurance, or by a hit and run driver.
Direct Compensation/Property Damage: Pays for the damage to your car when another motorist is responsible for the accident.
Collision: Pays for the damage or replacement of your automobile if you are involved in a collision with another vehicle or object, and it happens to be your fault.
Comprehensive: Pays for damage to your car for things like fire, theft, glass breakage.