Did you know that your Ontario Automobile policy comes with Standard Accident Benefits to help you or injured occupants get better in the event of an automobile accident? In my experience most consumers do know that they have some ‘sort’ of accident benefits. Often I hear consumers say they were told there are benefits but weren’t explained what the benefits are and what options they have.
For every automobile policy sold at Absolute Insurance Brokers, we tell our customers the standard benefits that are included in their automobile policy. We also educate them on the optional coverage’s they can purchase to increase the standard benefits that come with the Ontario Automobile Policy.
Two of the most important optional coverage’s that consumers can purchase are:
1) Medical, Rehabilitation and Attendant Care
The standard benefit pays up to $65,000 for medical, rehabilitation and attendant care expenses with a 5 year time limit in most cases. If catastrophically impaired, the standard benefit pays up to $1,000,000 for medical, rehabilitation and attendant care expenses. You may purchase an optional medical, rehabilitation and attendant care benefit of $130,000 or $1,000,000.
2) Catastrophic Impairment – Medical, Rehabilitation and Attendant Care (Increased)
You may purchase an optional catastrophic impairment benefit of an additional $1,000,000 added to the standard medical, rehabilitation and attendant care benefit or the optional increased medical, rehabilitation and attendant care benefit.
If you purchase the additional Medical, Rehabilitation and Attendant Care benefit for catastrophic injuries and for all injuries, the total eligible benefit amount for a catastrophic impairment would be $3,000,000. The cost to increase these coverage’s can range depending on where you9 live, your overall insurance cost and the number of vehicles you have insured. On average in Orangeville, Ontario the cost is $80-$100 a year.
For more information on optional accident benefits in Ontario please click here to the Financial Services Commission of Ontario website.
