New Accident Benefit Options - blog-auto-accident-benefits

New Accident Benefit Options

Category

Auto Insurance, Erie Mutual Insurance News

Effective June 1, 2016 Ontario auto insurance policyholders will be given new options when it comes to choosing their Accident Benefit coverage limits.

The Accident Benefit most impacted by this change is for Medical & Rehabilitation as your new basic combined limit (upon renewal of your auto insurance policy) will now be ONLY $65,000 with a $1,000,000 limit for Catastrophic injury. Without increasing these limits you may not have adequate coverage should you, or a family member in your household, be injured in an auto accident. Policyholders will have the option to increase this limit to $130,000 or $1,000,000 with an additional $1,000,000 available for Catastrophic injury as well.

Other Accident Benefits Options include Income Replacement for those who earn essentially over $30,000 annually (your basic limit pays you 70% of your gross income to a maximum of $400 weekly). Without having a benefit package that covers lost wages and not increasing your AB Limit, there will be a shortfall in your income should you be unable to work as a result of an auto accident injury.

Discuss your AB options with an insurance professional, they will explain these options as well as Death & Funeral, Caregiver, and Indexation.

With the continuously changing world of auto insurance it’s important to ask questions and make an informed decision.

Read the Latest News

Welcome to our Series, Things Farmers Do, Spring Edition. With years of experience in the farming and growing industry, Erie Mutual provides the right insurance coverage that protects your farm at a competitive price. Like the agri-business, seasons change and that means Spring, Summer, Fall and Winter months to adjust to on your farm.

April 8, 2019 2 Min Read

No matter how many years we’re on the road, there are always ways to improve vehicles, insurance and driving skills. Erie Mutual has the expertise to better understand a confusing auto insurance policy. We realize it’s tough to make informed decisions when auto insurers use complicated language. That’s why we’re here for our clients to explain coverage, options available and what to expect if an accident occurs. Our claims team will take great care f you when you need us.

April 6, 2019 2 Min Read

If you are in the market of buying a new or used automobile, there is always plenty to consider. Some of us may be spontaneous and impulsive when we instantly fall in love with a vehicle and we become quick to close the deal, many others prefer to take their due diligence and prolong the shopping cycle.

March 13, 2019 4 Min Read

This field is required.
Invalid email format.
Some of the fields are not filled or invalid.
Form Template
Select a Form Template
Available fields in the selected template:
Templates Library
Loading, Please wait...
The Library cannot be open, please try it again later.