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Automobile Insurance – Also includes Motorcycle
In the province of Ontario, all Automobile Insurance companies use the same Statutory contract, the policies is the same regardless of company, however, there are many options within the policy that are available so that you can customize the policy to fit your needs. Talk to us about the options that best fit your needs and requirements.
Mandatory Road Coverages
The Government of Ontario has mandated certain coverages that must be carried on all vehicles that are driven on Ontario roads. Third Party Liability coverage has a minimum limit of $200,000, this limit was set over 25 years ago. The “minimum” limit has not kept up with the current environment of liability claims. In this litigious society “minimum” limits can leave you exposed in the event of a serious accident that you are found legally liable. Over the last 25 years a $1,000,000 liability limit has been the most commonly used amount; however, our firm has seen more and more clients opting for a liability limit of $2,000,000. Additional products such as Umbrella Liability policies can offer even higher limits. Accident Benefits is a section of the auto policy that provides coverage for medical rehabilitation and income replacement. For more information on these coverages and the options that are available, please follow this link. http://www.fsco.gov.on.ca/en/auto/brochures/pages/brochure_changes10.aspx
Direct Compensation-Property Damage Coverage is mandatory coverage that provides physical damage coverage for damage to your vehicle for collision claims where you are deemed to be Not at Fault. This section generally has a zero deductible.
Loss or Damage coverages – This section of the policy provides coverage to repair your vehicle in the event of a number of different happenings or perils. Collision coverage provides protection for your own vehicle in the event of a physical collision where you are deemed “at fault”. Comprehensive coverage provides protection in the event of a loss occurring from fire, theft, vandalism and broken windshields. Both of these sections are optional and both section offer a wide range of deductibles.
We can offer you excellent coverage benefits on personal-use vehicles, including:
Coverage may include: