Third Party Liability
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Provides coverage for the liability imposed by law for bodily injury or death arising out of the use or operation of the automobile. Minimum coverage as required by law is $200,000. However, purchasers of auto insurance will typically purchase
$1,000,000 in coverage. We recommend a limit of $2,000,000. |
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Optional Physical Damage Coverage
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Collision
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Coverage for loss or damage to your vehicle resulting from a collision with another
object. The standard deductible is $500, however,
higher deductibles are available to reduce your premium. |
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Comprehensive
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Coverage for loss or damage to your vehicle caused by fire, theft, broken glass
and other insured perils. The standard deductible is $300, however,
higher deductibles are available to reduce your premium. |
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Endorsements
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Loss of Use
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Provides
for a rental vehicle up to a maximum amount per day and an overall maximum,
for loss of use of your vehicle due
to a covered physical damage claim.
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Waiver of Depreciation
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Waives
depreciation for the total loss of your insured vehicle if you are the original owner or lessee of a
private passenger car and the total loss or damage occurs
within a specified time of the purchase or lease which is usually 2 years.
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Liability for Damage to Rented Automobile(s)
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Extends
coverage for liability or for loss or damage arising from
the operation of a non-owned automobile such as a rented car, including its equipment. |
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Optional Increased Accident Benefits Coverage
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The standard Ontario automobile insurance policy (OAP 1) includes basic accident
benefits coverage. If you own a business, or are a high income earner, you should compare the standard and optional coverage to see if there are any limits that may
have to be increased.
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Income Replacement
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Standard Coverage - $400 week
Optional Coverage - $600, $800, or $1,000 per week
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Medical, Rehabilitation and Attendant Care Benefits
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Standard Coverage Limits:
- $100,000 for medical and rehabilitation expenses;
- $1,000,000 for catastrophic injuries;
- $72,000 for attendant care;
Optional Coverage:
- additional $1,172,000 in medical, rehabilitation and attendant care expenses;
- up to $3,000,000 for catastrophic injuries.
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Increased
Caregiver and Dependent Care Coverage
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Standard Coverage:
- $250 per week for unpaid caregivers;
- $50 per week for each additional dependent;
Optional Coverage:
- $325 per week for unpaid caregivers;
- $75 per week for each additional dependent.
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Increased Death Benefit
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Standard Coverage:
- $25,000 death benefit to a
surviving spouse;
- $10,000 to each surviving dependant;
- $6,000 funeral benefit.
Optional Coverage:
- $50,000 death benefit to a surviving spouse;
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$20,000 to each surviving dependent;
- $8,000 funeral
benefit.
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