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

So, your hobby has turned to a passion; you have gone from engaging in your favourite pass time for fun and perfected it and now you make some money on the side for it. Good for you! Congratulations on being self-employed, or at least partially.

February 6, 2019 3 Min Read

Homeowners face uncertainty and risk each day, as do the insurance companies that insure the homeowner. Many areas are a concern to both insurer and homeowners whether it is acknowledged or not. Topics such as a change in climate, extreme weather conditions, as well as the homeowner themselves the consumer.

January 30, 2019 4 Min Read

Ugh, that is usually the first thought when it comes to winter driving on Ontario roads. Who could blame you? Accidents happen often enough throughout the year, no one wants the increased stress of winter conditions and unpredictable weather to add to their daily travel.

December 12, 2018 3 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.