It’s mandatory to have auto insurance in Canada, and this insurance includes accident benefits that could help cover some of the medical costs that could be incurred in a collision. But what are they exactly and what do you need to look for when deciding between one insurance company and the next? We’ll explain everything you need to know about Ontario accident benefits and how to ensure you get the best coverage.
What is Covered?
Accident benefits provide medical coverage that goes beyond the standard provincial healthcare coverage. This includes set limits for medical rehabilitation and care benefits for non-catastrophic and catastrophic injuries, caregiver benefits, as well as housekeeping and home maintenance expenses for catastrophic injuries. Income replacement benefits, third-party liability, and death and funeral expenses are covered under the policy too.
You also have the choice to customize your coverage by increasing the benefit amount. For instance, if the standard auto insurance policy for income replacement is 70 percent of gross income up to $400 per week, but you know you’ll need more to care for your family if you ever do get injured in an accident, you might want to pay extra to increase the limit to $1000 per week.
How to Choose an Insurance Company?
Insurance companies must follow specific provincial guidelines. However, they will set their own rates, deductibles, limits and optional coverage amounts, so it’s important to do your research before deciding. The most important things to consider when comparing insurance companies include:
- Policy Rates. These rates can vary greatly from one insurance provider to another.
- Total coverage. The terms and particulars can also vary. Pay special attention to the deductibles, limits and add-ons.
- Service. The customer service and claims process are just as important as the coverage itself. Make sure to check the reviews of past customers to see if they have a seamless process and speed of service.
- Support. Do they have a 24/7 customer support hotline?
- Premium Increase. It’s important to understand under what circumstances could the insurance company increase your premiums.
- Renewal and Forgiveness. It’s also important to know if the insurance company will renew your policy if you have an at-fault claim.
It can take considerable time, energy, and knowledge to properly compare one insurance provider from another. That’s why it’s helpful to use an insurance broker. It’s their job to stay up to date on all the insurance companies’ policies and to know which one is best for your unique needs. Best of all, you don’t pay a broker for their service. You’ll get the best terms, rates and coverage for your needs in an affordable and timely fashion.
Contact us today at Rowat Insurance and we’ll help you find the best Ontario accident benefits coverage for you and your family.