Understanding Automobile Insurance
Whether you are currently shopping around for auto insurance, your policy is about to expire, or you’re looking to save money on your current policy, it is important to understand how your policy works.
The following information is designed to help you understand your auto insurance policy and all the various parts that make up your coverage, and to help you in purchase the insurance coverage that best meets your needs.
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Basic vs. Optional Auto Insurance Coverage
To legally drive a vehicle in Ontario, your auto insurance policy must include: Third Party Liability; Accident Benefits coverage; Uninsured Automobile coverage; and Direct Compensation-Property Damage coverage. You’ll likely want to extend your policy beyond the mandatory coverage to increase your protection and benefits. Your insurance broker will help you understand and decide on the best level of protection to consider. The table below describes both mandatory and optional coverage available to Ontario drivers.
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Classes of Impairment
When a person is injured in an accident in Ontario and pursues a claim for accident benefits, the insurer will, at some point, make a determination as to the degree of their injury and impairment. An injured person may be found to have a minor injury, a non-catastrophic impairment or a catastrophic impairment. The onus is on the injured person to prove the degree of their impairments.
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Basic income could work—if you do it Canada-style
Dana Bowman, 56, expresses gratitude for fresh produce at least 10 times in the hour and a half we’re having coffee on a frigid spring day in Lindsay, Ontario. Over the many years she scraped by on government disability payments, she tended to stick to frozen vegetables. She’d also save by visiting a food bank or buying marked-down items near or past their sell-by date.