Effective September 1, 2010, when new laws are being introduced by the Ontario government, Ontario consumers will have more choices when it come to their car insurance coverage and premiums. In fact, you may have already received a letter in the mail from your insurance company which includes a brief description of these changes coming into effect. You should be receiving at least two more pieces of information in the mail which will be more detailed. Currently your insurance policy is comprised of a set amount of basic coverage options, however after September 1st these basic coverage options will change. You will have more choices in the future which will affect how much you will be paying on premiums based on coverage needs of your particular driving profile.To help you better understand the most important changes and your options, we've summarized the major coverage categories of your policy and how they will be affected when the new laws come into effect.Medical, Rehabilitation and Attendant Care (for non-catastrophic injuries) Currently: This coverage includes up to $100,000 for medical and rehabilitation benefits. For attendant care, there is coverage of up to $72,000After September 1st: Basic coverage will include up to $50,000 with the option to purchase up to $1,100,000. Under the new set of changes for attendant care, basic coverage will include up to $36,000 with the option to purchase more. Medical, Rehabilitation and Attendant Care (catastrophic injuries) Currently: Coverage includes up to $1,000,000 for medical and rehabilitation benefits. After September 1st: Coverage will continue to include up to $1,000,000, but you will have the option to purchase more. Caregiver BenefitCurrently: This benefit provides payment for some expenses incurred when you are not able to continue being the primary caregiver to any dependents in your home in need of care. This is available for all injuries. After September 1st: This benefit will only be available for catastrophic injuries. You will, however, have the option to purchase this coverage for non-catastrophic injuries.Housekeeping & Home Maintenance ExpensesCurrently: This benefit covers any expenses for housekeeping or home maintenance in the event you are unable to do these tasks yourself. This is available for all injuries. After September 1st: Your coverage will only apply for catastrophic injuries. However, you will be able to purchase this coverage for non-catastrophic injuries.Income Replacement BenefitCurrently: This coverage replaces 80% of your net income up to a maximum of $400 per week. After September 1st: Basic coverage will replace 70% of your gross income up to $400 per week. You will have the option to purchase additional coverage for up to $600, $800 or $1000 per week. For more details on the upcoming changes and how you will be impacted. Please visit www.fsco.gov.on.ca, or www.ibc.ca. In addition, be sure to speak to your licensed insurance professional about your options, the coverage you need, and the related costs for your particular situation.
Upcoming Changes To Your Car Insurance Policy
Recent insurance articles:
Our Users Say
2,066 reviews on TrustPilot. See some of the reviews here.
Fast response after getting quote
Fast response after going through getting a quote. Limited choices to enter some information.
11 hours 11 minutes ago
Sean Figueredo
Sean Figueredo
Very easy to go through the questions
Very easy to go through the questions
1 day 17 hours ago
Dina Robichaud
Dina Robichaud
Easy to complete
Easy to complete, quick reply from company and put you into quick contact with best pricing company
2 days 10 hours ago
Tim Laurie
Tim Laurie
Satisfied with the service thanks will…
Satisfied with the service thanks will use it for other insurance
3 days 14 hours ago
Jaideep Seth
Jaideep Seth
Andrew was great person to deal with.
Andrew was great person to deal with.
3 days 17 hours ago
Marion Crocker
Marion Crocker
Dimple was very helpful
Dimple was very helpful. She took the time to answer my questions and was very polite and friendly.
6 days 20 hours ago
Perry Janes
Perry Janes
It was quick and lowest quote given…
It was quick and lowest quote given instantly
1 week ago
Hemant
Hemant
Efficient & convenient
Efficient & convenient
1 week 2 days ago
Ciro Spiezia
Ciro Spiezia
The process of requesting a quote is easy and efficient
The process of requesting a quote is easy to follow and efficient. A representative contacted me right away and connected me directly with the right insurance broker who was able to provide the best insurance quote for my family's cars. Both the representative and the insurance broker were professional and efficient.
1 week 3 days ago
Aurelia M.
Aurelia M.
Real cost savings!
Very friendly and helpful, quickly connected me with a broker who offered a policy that saves me $600 a year!!
1 week 6 days ago
PETER WALCOT
PETER WALCOT
Agent was pleasant to talk to.
Agent was pleasant to talk to.
2 weeks 1 day ago
Rody Drover
Rody Drover
easy and fast
easy and fast
3 weeks ago
tim hannah
tim hannah
The operator was pleasant and quick
The operator was pleasant and quick. Almost no waiting
3 weeks 1 day ago
Larry Fischer
Larry Fischer
Quick response
Quick response. Good service. Accurate. Pleasant agents.
3 weeks 2 days ago
Peter
Peter
Communication was clear
Communication was clear, friendly, and prompt, with no sales pressure.
4 weeks ago
RH
RH
Just had a quote through a broker for…
Just had a quote through a broker for my car and house insurance my experience was great. All questions were answered and I got a reasonable rate.
4 weeks ago
Ray Goguen
Ray Goguen
Efficient and knowledgeable.
Efficient and knowledgeable.
4 weeks ago
Terrence
Terrence
Great Customer Service
Great Customer Service, friendly staff, Good Pricing
4 weeks 2 days ago
D.K
D.K