Auto Insurance Reforms
The Ontario Government recently introduced new reforms to the Auto Insurance industry. These changes, effective September 1, 2010, provide stability for both insurance companies and policy-holders alike, and to provide consumers with more choice to purchase coverage that best meets their needs and budgets.
What has changed?
- Medical and Rehabilitation: New policies have a limit of $50,000 for non-catastrophic injuries, with the option to increase to $100,000.
- Attendant Care: New policies have a limit of $36,000 for non-catastrophic injuries, with the option to increase to $72,000.
- Caregiver, Housekeeping and Home Maintenance: New policies will allow expenses only for catastrophic injuries, with the option to purchase this coverage for non-catastrophic injuries.
- Deductible: New policies will continue to have a $30,000 deductible when suing for pain and suffering, with the option to reduce the deductible to $20,000.
What does this mean for you?
We'd be happy to discuss how these reforms affect your new or existing car insurance policies.