standard Auto Insurance Coverage in Ontario
Ontario car indemnity policies are standardized and comprised of four mandatary types of car indemnity coverage. All four of these types of car insurance coverage are included in a basic car indemnity policy. When comparing quotes, keep in judgment that unless you ’ ve indicated extra coverage, all quotes provided are for standard car insurance coverage. You constantly have the option to increase your coverage amounts and leverage extra cable car insurance coverage arsenic well. When adding things to your policy, it is probably your quote will change to reflect this coverage.
Mandatory Auto Insurance Coverage in Ontario:
Provides coverage in the event person is injured or killed in an accident, or their property is damaged, resulting in a lawsuit. Liability indemnity covers the costs of settling these claims improving to your coverage measure. compulsory minimum coverage amount : $ 200,000 minimum, but higher amounts much recommended .
statutory Accident Benefits
Provides coverage for a count of benefits in the event you are injured in an automobile accident, regardless of who is at mistake. These benefits cover checkup expenses such as physical therapy and other expenses not covered by OHIP. All utmost payouts are subject to eligibility vitamin a outlined in your car insurance policy. You can purchase extra coverage for most of these Statutory Accident Benefits .
- Income Replacement Benefits: Basic weekly income replacement of 70% of your gross income up to $400/wk.
- Medical, Rehabilitation and Attendant Care Benefits: Up to $65,000 for serious injuries, and $1 million for catastrophic injuries.
- Caregiver Benefits: Up to $250 per week for the first dependent, and $50 per week for each dependent after that.
- Housekeeping and Home Maintenance Expenses: Maximum payout $100 per week.
- Death and Funeral Benefits: Up to $25,000 is provided to your spouse, $10,000 for each dependent, and up to $6,000 in funeral costs in the event you are killed in an automobile accident.
aim Compensation-Property damage ( DC-PD )
Covers damage to your vehicle or personnel casualty of use of your vehicle and its contents in the event another person is at fault. There are extra caveats to this type of coverage. The accident must have happened in Ontario and involved at least one other cover fomite.
If you are seeking extra coverage for your vehicle, you ’ ll want to purchase collision policy. No specify mandatary amount. This type of coverage is for your vehicle then long as it meets eligibility.
Provides coverage in the event you are injured or killed by an uninsured driver or as the consequence of a hit-and-run. Can besides cover damage to your vehicle if caused by an identified uninsured driver. See statutory Accident Benefits coverage above.
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optional Auto Insurance Coverage in Ontario :
In addition to increasing coverage amounts for third-party indebtedness insurance and statutory accident benefits, there are besides a number of unlike types of optional policy coverages you can add to protect your vehicle, the most common being collision and comprehensive examination car insurance coverage.
- Collision coverage/Upset Coverage – Covers losses to your vehicle if you’re involved in a collision with another object, including another vehicle, or an object in or on the ground.
- Comprehensive Coverage – Covers listed perils identified under Specified Perils coverage, as well as damage caused by falling/flying objects, missiles, and vandalism.
- Specified Perils Coverage – Covers losses from fire, lighting, windstorm, hail, rising water, theft, attempted theft, earthquakes, explosions, and other named perils as identified in your policy.
- All Perils Coverage – Combines collision and comprehensive coverage and provides additional protections.
Please note that these optional coverages may have their own deductibles.