Understanding Your Car Insurance Options in Ontario: Enhance Your Coverage for Greater Security

It’s a common misconception that all car insurance policies provide the same protection. However, in reality, you can tailor your auto insurance to fit your specific needs and circumstances. For those living in Ontario, the basic insurance coverage for non-catastrophic injuries includes medical, rehabilitation, and attendant care up to CAD$65,000. For catastrophic injuries, coverage starts at CAD$1 million. But these standard amounts might not be enough for everyone, and fortunately, there’s an option to increase these to $130,000 and $2 million, respectively.

This guide will help you understand how to upgrade your insurance effectively. Here’s what you need to know about the optional accident benefits available in Ontario:

Types of Optional Accident Benefits You Can Choose:

  • Non-Catastrophic Injuries: You can boost your standard coverage from $65,000 to $130,000, helping to cover additional medical treatments and personal care assistance needed after an accident.
  • Catastrophic Injuries: Increase your coverage from $1 million to $2 million to support significant long-term medical and rehabilitation needs.
  • Comprehensive Benefits: You have the possibility to combine these increases, potentially elevating the benefits for non-catastrophic injuries to $1 million and for catastrophic injuries to $3 million.

Specific Benefits You Can Add:

  • Caregiver Benefit: If you’re unable to continue as the primary caregiver due to an accident, this benefit helps cover the cost of necessary alternative arrangements.
  • Housekeeping and Home Maintenance: This is available for catastrophic injuries up to $100 per week, and you can opt to extend this benefit to cover all types of injuries.
  • Income Replacement Benefit: Normally covering 70% of your gross income up to $400 weekly, this can be raised to as much as $1,000.
  • Death and Funeral Benefits: The standard benefit provides $25,000 to a spouse and $10,000 per dependent, with funeral expenses up to $6,000. These amounts can be increased to $50,000, $20,000, and $8,000, respectively.
  • Dependant Care Benefit: Particularly crucial if you’re working and do not receive caregiver benefits, this helps cover additional childcare expenses resulting from the accident.
  • Indexation Benefit: This adjusts certain benefits in line with the Consumer Price Index (CPI) for Canada, ensuring your coverage remains relevant with inflation.

Conclusion: Adding the highest available optional medical, rehabilitation, and attendant care benefits to your policy is a crucial way to protect yourself and your loved ones in case of a serious accident in Ontario. Speak with your insurance broker to tailor your coverage and secure your financial stability following an accident.

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