Every few years the Government of Ontario reviews and implements auto insurance reforms that are mandatory for all insurance providers and policyholders in Ontario. Why? Well, the government wants to help maintain insurance stability and affordability for drivers in Ontario, while also responding to the rapidly changing insurance landscape in Ontario.
Reforms are rolling out this year, and some of the changes that will have the greatest impact on Ontarians come into effect on June 1, 2016.
At Allstate, we feel that it is important for you to understand what these reforms mean so that you’re comfortable when it comes time to evaluate your policy and to ensure you have the coverage you need to best protect you and your family.
One of the most notable changes affecting your insurance policy will be to accident benefits coverage. What are accident benefits? They’re the part of an Ontario insurance policy that extends coverage to supporting and fixing people, as opposed to tangible physical property, like damage to a car, after an accident happens. In particular, accident benefits coverage may help individuals and families cope with some of the following after a motor vehicle accident:
- Getting access to an ongoing source of income;
- Medical, rehabilitation & attendant care, which can include:
– Surgical, dental and/or optometric care
– Hospital, nursing and/or ambulance services
– Care that assists you in reintegrating into a family role or the labour market and your community
– An aide or attendant, or a long-term care facility, including a long-term care home or chronic-care hospital
– Some expenses not covered by OHIP
- The ongoing costs of caring for your dependants, such as your children;
- The cost of housekeeping and maintaining your home;
- Death & funeral benefits
But how will these benefits change? You will see the reforms combine some benefits together and, in certain areas, reduce the benefit amounts previously available for non-catastrophic and catastrophic injuries.
Below you will find an interactive document designed to help you navigate your Certificate of Automobile Insurance. You will notice that the interactive Certificate has “hotspots”, highlighted by little blue buttons. These hotspots are there to help guide you through the changes to the following benefits:
- Medical, rehabilitation and attendant care for non/catastrophic injuries
- Death & funeral
- Dependant care
To better understand the changes, as they will appear on your Certificate of Automobile Insurance, click on one of the hotspots. You will notice a popup chart that highlights the differences you can expect to see after the June 1, 2016 implementation date.
If you’re concerned that the new benefit limits won’t provide you with enough coverage, don’t worry. There are options available for increased accident benefit coverage if you feel that additional coverage best matches your lifestyle. This is something we encourage you to speak to your insurance agent about when it comes time to renew your policy – if you do nothing, your policy will default to the new, lower standard benefit levels.
We have also created a calendar tool which will send you an automated reminder to contact your insurance agent before your renewal date to discuss upcoming auto insurance changes and optional coverage limits available to you.