The Ontario government has revamped standard auto insurance policies, which comes into effect today. The move is part of the government’s plan to make premiums more affordable over the years. However, some experts say the lower premiums resulting from today’s changes will come at the price of substantially decreased coverage for policies.
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Auto insurance coverage in Ontario just changed
Ontario: Cuts to auto insurance have started
Ontario’s wealthy insurance companies continue to see high-profit levels while drivers, who pay the highest premiums in Canada, continue to see their coverage eroded to the lowest level in 25 years.
Ontario auto insurance prices drop along with benefits
With the most expensive premiums in the whole country, auto insurance is a big deal in Ontario, especially during election time. Before being elected, the Ontario Liberal Party promised a 15% drop in auto insurance rates by August 2015. Well it’s nearly a year later and we still haven’t hit that target, but it is getting cheaper.
http://www.lowestrates.ca/
Motorcycle rates rising with severity, number of claims
Front and centre on the current round of increases is Ontario’s most popular motorcycle underwriter, TD General Insurance. Together with subsidiary Primmum Insurance, the firm filed for rate increases in 2014 of 9.16 per cent and 9.14 per cent respectively, and in 2015 they were granted further increases of 25 per cent and 24.59 per cent.
http://www.wheels.ca/news/
Bike & Motorcycle Accidents in Ontario: A personal injury overview
There are plenty of other laws which relate specifically to motorcycle and bike accidents in Ontario which you probably aren’t familiar with because they often aren’t enforced by local police. But, these laws are available to the police whenever they’d like to use them. We have seen a lot of cases whereby cyclists are ticketed for riding their bikes on the sidewalk, even though they’ve been injured by a negligent motorist in a car accident. The police will look to ticket to cyclist for riding on the side walk. Our personal injury lawyers have seen at least 4 of those cases in London, ON were the London City Police have been aggressive in issuing these tickets even though the cyclist appears to have done nothing wrong other than ride their bike on the sidewalk. Even though a motorist may have ran a red light, the police are still aggressive in issuing these sort of tickets.
Changes to Ontario insurance a double-edged sword
While there is rhetoric and howls on both sides of the legislative aisle, the fact remains: The standard wording in your policy will default to you receiving fewer benefits and lower coverage in two key areas as of June 1, 2016. If your policy was renewed earlier this year, you will not see the new changes come into effect until your next renewal. But if you buy or renew a policy after June 1, the impact is immediate.
http://driving.ca/auto-news/
Ontario Auto Reforms
If you renewed your policy earlier this year, the changes will affect you the next time your policy renews. If you buy a new policy or renew on or after June 1, 2016, here’s what’s different.
Limitation Period Trumps Invalid Election
Following a motor vehicle accident on June 23, 2008, the claimant sought accident benefits from her insurer. The insurer advised her by letter that she may be eligible for either an IRB or a CGB, but that only one benefit could be paid at any one time. The only information given to the claimant regarding the duration of an IRB was that it would have been limited to 12 to 16 weeks if her injuries fell within the Grade I Whiplash Guideline/Grade II Whiplash Guideline. The claimant selected a CGB on her OCF-10 Election of Income Replacement, Non-Earner, or Caregiver benefits form.
Basic Income: Helicopter Money
About 10% of Canadians live in poverty. That figure is even higher in major cities, such as Toronto where the number of children living below the line is nearly 25%. In India, 22% of the people live in poverty. A “guaranteed annual income” (GAI) could wipe out this poverty at a stroke.
http://dissidentvoice.org/
Drivers Need to Pay Attention to Auto Insurance Changes
Upcoming changes to auto insurance mean Ontario drivers will need to take more interest in their insurance policy this year.