If you own a vehicle in Ontario, here is the standard automobile insurance coverage you are required to have by law as a minimum:
This part of your automobile insurance policy protects you if someone else is killed or injured, or their property is damaged. It will pay for claims as a result of lawsuits against you up to the limit of your coverage, and will pay the costs of settling the claims. By law you must carry a minimum of $200,000 in third-party liability coverage.
This section of your auto insurance policy provides you with benefits if you are injured in an automobile accident, regardless of who caused the accident. It includes supplementary medical, rehabilitation, attendant care, caregiver, and income replacement benefits.
This section of your car insurance policy covers damage to your vehicle or its contents, and for loss of use of your vehicle or its contents, to the extent that another person was at fault for the accident. It is called direct compensation because even though someone else causes the damage, you collect directly from your own insurer, instead of from the person or insurer of the person who caused the damage.
This coverage protects you and your family if you are injured or killed by a hit-and-run driver or by an uninsured motorist. It also covers damage to your vehicle caused by an identified uninsured driver.
In addition to the minimum coverages mentioned above, which you must have as required by law, you may want to have even better protection. Two common options are:
These options and others allow you to customize your auto insurance policy to better suit the needs of you and your family.
For expert advice about what coverage is best for you, contact Mitchell & Whale at 1-800-731-2228 or email us at firstname.lastname@example.org. Why not see what our team of insurance experts can do for you!