New Auto Insurance Changes Means REDUCED Benefits For You

by Sivan Tumarkin


Wednesday, April 27th, 2016 at 12:13 pm


Changes to auto insurance policies are coming to Ontario.

Effective June 1, 2016, to help make insurance premiums more affordable, the benefits and coverage you receive in a standard auto insurance policy are changing – some have been reduced, and some options for increased coverage have been eliminated or changed.

image

image

image

(Charts courtesy of Financial Service Commission of Ontario)

All auto insurance policies will continue to include third party liability, uninsured automobile, direct compensation-property damage, and accident benefits.

However, these changes further reduce the benefits that you are entitled to if you are injured in a car accident!

We advise you to contact your insurance provider or insurance broker and ask about optional insurance, which is additional insurance you can purchase to enhance the benefits package you will receive if you are injured.

The benefits you are entitled to are extremely minimal thanks to insurance regulations passed over the past several years.

It is now more important than ever to consult with an insurance and injury lawyer (like the lawyers we have on our team) for free in order to understand all available options.

If you have any questions or concerns regarding these auto insurance changes, please contact Sivan Tumarkin at sivan@stlawyers.ca or call 1-844-661-9065.

You can read more about the mandated changes via the Financial Services Commission of Ontario website here.

 

Leave a Reply