Car Insurance Calculator Ontario

Accident benefits coverage kicks in if you get into an accident that results in bodily harm. No matter what kind of harm it causes - whether you break your wrist or the other driver suffers a concussion - accident benefits will help pay for any medical costs incurred. This type of coverage can be claimed whether it was you, a passenger, or a pedestrian involved in the accident that required medical or rehabilitation attention in the aftermath. Examples of expenses that accident benefits coverage may pay for include funeral fees, lost income, physical therapy, and prescription medication.

Finally, uninsured motorist coverage protects policyholders and their passengers if they are involved in an accident with a driver who is uninsured, underinsured, or anonymous. Given the latter, it can protect drivers from the high cost of hit and run accidents, whether the accident results in bodily injury or property damage.

Collision car coverage will help pay for your car to be repaired if it suffers extensive damage in a car accident. Collision coverage can be claimed whether the accident was with another vehicle, an animal, or even a grounded object on the road, as well as whether you were found to be at fault for the accident or not.

Comprehensive car coverage covers policyholders for damage or losses that occur due to circumstances other than accidents. For instance, if your car is parked and a tree branch falls on it, the cost of repairing or replacing it might be covered by the comprehensive coverage portion of your policy. Comprehensive coverage protects drivers against damage caused by insured perils only. These perils vary between policies but may include fire, theft, vandalism, falling objects, explosions and riots, wind, and water damage.

Direct compensation is another component of basic car insurance in Ontario. It can help policyholders pay for the cost of repairing their vehicle if it is damaged in an accident. Please note that this type of coverage can only be claimed if you were not at fault for the accident.

Another type of optional car insurance coverage popular among drivers is accident forgiveness. Accident forgiveness is additional coverage that can be added to your car insurance policy as an endorsement, to protect your driving record and to help prevent your insurance premium from increasing if you have an at-fault accident claim. Note: coverage and eligibility varies by province.

A waiver of depreciation is an endorsement you can add to your enhanced coverage that will help pay for you to replace your vehicle if it is totalled. This type of coverage is strongly recommended for owners of new or expensive cars, as without a waiver of depreciation, your insurer will only issue a payout for the value of your car after depreciation.

Loss of use coverage is one last type of enhanced car insurance coverage. It will pay for the cost of taking alternate transportation if your car is damaged in an accident and needs to be repaired. During the time that it takes to be repaired, loss of use coverage will reimburse you for extra costs incurred, like that of renting a car, taking taxis or ride shares, or buying a public transit pass.