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1 minute read Published on Apr 11, 2016 by BrokerLink Communications
Effective June 1, 2016, the Ontario government will introduce changes to car insurance in an effort to make insurance premiums more affordable. These changes provide consumers with more choice when it comes to coverage levels, with most of the changes impacting the Statutory Accident Benefits coverage you receive.
After June 1, the standard car insurance policy you will receive from your insurer will automatically feature new lower benefits. These benefits may or may not fit your situation.
It is important to consider if these new limits are appropriate for you and your family. Your BrokerLink broker can help you review your coverage and discuss your options for purchasing additional coverage and protection.
Mandatory third-party liability coverage protects an insured Ontario driver and/or car owner in the event that someone is killed, injured or suffers property damage as a result of the driver’s negligence. For a minor injury, no-fault medical payments are limited to $3,500. Additional limits for non-minor and catastrophic injuries apply. Ontario residents have the option to buy additional coverage depending on their needs.
All drivers in Ontario will continue to be required to carry the following types of coverage on their vehicle:
Read full details on all of the Ontario car insurance changes.
When it comes to insurance, we know that you have several options available to you. Your BrokerLink broker is your trusted guide when navigating the complicated world of insurance.
Upon your renewal unless otherwise stated, your car insurance coverage will default to the new lower standard benefits. Contact your BrokerLink broker today to discuss your options and find the coverage that is right for you and your family.