Frequently Asked Questions

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What changes are happening to my auto insurance policy?

The Ontario government has introduced significant reforms to the auto insurance system to provide you with more choice over the coverages and price you pay for insurance. These additional accident benefit choices will allow you to customize your policy to better suit your needs.

  • Medical, Rehabilitation and Attendant Care standard benefits are being lowered and combined to give you more flexibility. The new duration of these standard benefits is now five years for non-catastrophic injuries for all claimants except children. It will be paid as long as you remain medically eligible.
  • We won’t increase your premium as a result of minor at-fault accidents that occur on, or after, June 1, 2016. An accident is considered minor if there is no payment by any insurer, no injuries and damages less than $2,000 are paid by the at-fault driver. This provision is limited to one minor accident every three years.
  • The maximum interest rate for monthly payment plans will decrease from 3% to 1.3% for one-year policies, with corresponding reductions to shorter terms.
  • The standard deductible for Comprehensive coverage is being increased from $300 to $500.
  • If you’re not working, you will no longer have to wait six months for income replacement benefits because they will now be available to you after only four weeks. The new limit of the duration of these benefits is two years after the accident.

How do the new Accident Benefits compare to what was available prior June 1, 2016?

Many of the changes beginning June 1, 2016 will affect the Statutory Accident Benefits you receive if you are injured in an auto accident, regardless of who is at fault. Some of these benefits have been reduced and some options for increased coverage have been eliminated or changed.

For more details, please refer to the comparison chart below.

For non-catastrophic injuries
Current policy (until June 1, 2016)
Medical and Rehabilitation: $50,000
Attendant Care: $36,000
New policy (after June 1, 2016)
Combined and reduced to $65,000 total.
Optional
Increase the benefit to $130,000 total.
For catastrophic injuries
Current policy (until June 1, 2016)
Medical and Rehabilitation: $1,000,000
Attendant Care: $1,000,000
New policy (after June 1, 2016)
Combined and reduced to $1,000,000 total.
Optional
An additional $1,000,000 for a total of $2,000,000 for catastrophic injuries.
All injuries
Current policy (until June 1, 2016)
Medical, Rehabilitation and Attendant Care: Not applicable.
New policy (after June 1, 2016)
Medical, Rehabilitation and Attendant Care: Not applicable.
Optional
Increase the combined non-catastrophic benefit to $1,000,000 and the combined catastrophic benefit total to $2,000,000.

How do these changes affect my current insurance policy?

Even if you make a change to your policy, such as adding or removing a vehicle, your policy remains the same until it comes up for renewal on, or after, June 1, 2016. Along with your renewal documents, we will be sending you more information on the changes and your new options. This will help you make an informed decision.

Can I take advantage of the changes before my renewal?

After June 1, 2016, you can choose to make changes to your existing policy to take advantage of the new levels and options without having to wait for it to come up for renewal. Please call us at 1.888.280.8549 and one of our friendly agents will be happy to help you.

Will my rates go down as a result of these changes?

The new choices will give you greater influence over the price you pay for insurance. The cost of your policy will vary based on the coverage you purchase.

Why is the interest rate changing on my auto policy but not on my residential policy?

Your auto and residential policies are two separate contracts with very different coverages, limitations and conditions. The residential interest rate is not part of the changes.

Where can I find more information about these changes?

For general information about auto insurance in Ontario, more about these changes, definitions of different types of coverages and a glossary of insurance terms, visit www.fsco.gov.on.ca or www.ibc.ca.

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