Accident benefits are an important part of Ontario car insurance. No driver wants to get injured in an accident. But you can keep peace of mind knowing it will help pay for healthcare and other expenses while you recover.
In this blog, we will look at what accident benefits are offered in Ontario.
Accident benefits provide compensation if you or others are hurt or killed in an automobile accident. They cover passengers and pedestrians involved in the incident.
The FSRA provides a definition :
"This section of your automobile insurance policy provides you with benefits if you are injured in an automobile accident, regardless of who caused the accident, including supplementary medical, rehabilitation and attendant care, caregiver, non-earner and income replacement benefits. Options exist to increase most of these coverages."
The Statutory Accident Benefits Schedule (SABS) is an important document that outlines what is covered under your policy.
It applies to all basic automobile policies. It outlines the mandatory and optional limits for medical care, income replacement, death, funeral expenses and loss of income from disability.
Accident benefits are mandatory in Ontario. All policies will include it. There are standard and optional additions that you can add to your plan.
Here is what the benefits will cover across the province :
This will help with medical and rehab expenses that are not covered by a private health plan or the government.
Mandatory coverage includes up to $65,000 for non-catastrophic injuries or up to $1 million for catastrophic injuries. You can increase the amount for non-catastrophic injuries to $130,000 and for catastrophic injuries to $2 million.
If you pass away as a result of an accident, the following will be paid out :
You have the option to increase limits up to $50,000 for your spouse, $20,000 to dependents, and $8,000 for funeral expenses.
Additional expenses can be covered, including :
You have the option to increase limits for income replacement, medical care, caregiver benefits, death and funeral benefits, and more. Here is what you can add :
More options include :
Keep in mind that increasing your limits will increase your premiums. Contact us to see how much they will increase.
All passengers involved in an auto accident are eligible for it. Regardless of the type of accident or who was at fault, you will almost always be covered by insurance. You will need to file a car insurance claim against the other driver.
There will come a time after an accident when your insurer will approach you to settle your claim. In Ontario, you must wait one year before settling it.
Your insurer will propose a fixed amount to settle and close your claim. Once you agree to a settlement, you cannot request additional compensation from your insurer.
How much you settle for can affect litigation for tort claims against an at-fault driver if you are pursuing legal action. Always assess your situation before settling. Speak with a lawyer or your insurance broker about your options. You need to understand your options and how much you are entitled to before making any settlement decision.
Accident benefits are included in the minimum requirements in all provinces except for Newfoundland. The limits for medical payments, replacement income, death benefits, funeral costs, and the ability to sue vary from province to province.
The License Appeal Tribunal (LAT) is an independent agency that oversees statutory accident benefits disputes under SABS. If you have a dispute over a settlement with your insurer, it will be resolved by LAT.
Yes, income replacement is included in basic policies, but you can learn more about endorsements. You can increase your limits to qualify for up to $1,000 per week in compensation.
Yes. They are part of mandatory automobile coverage.
Yes. Most of these types of claims eventually get settled. You must wait one year to settle it.
Yes. You will need to fill out a form (OCF-1) for these benefits, which is part of the application. You must submit this paperwork as part of the process with your insurer.
Knowing your limits and understanding your needs is important. Check your agreement or speak to your insurer to know how much protection you have and if you should add any additional coverage to your car insurance quote.
Categories | Auto |
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Tags | Auto Coverage |
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