Automobile insurance in Ontario is compulsory.
Brant Mutual markets the standard government regulated Ontario Automobile Policy. We take pride in underwriting the policy efficiently and competitively. There is a wide range of discounts and coverages available to policy holders based on specific criteria.
The compulsory insurance coverages required are:
- third-party liability minimum of $200,000., in case the driver of your vehicle injures a Third Party or damages a Third Party's property;
- uninsured automobile coverage, in case the owner of the vehicle that injured you or caused damage to your vehicle doesn't have any insurance;
- statutory accident benefits, provides a basic level of income replacement and medical benefits - regardless of who is at fault;
- direct compensation for property damage, which allows you to claim from your insurance company for damage to your vehicle caused by someone else. Direct compensation for property damage means that, to the extent that you are not at fault in an accident with another vehicle, your own insurer will pay for damage to your vehicle.
Basic Accident Benefits:
The Act, and regulations, provide for certain accident benefits, regardless of who is at fault for the accident which results in bodily injury or death. These accident benefits follow the insured individual rather than the insured vehicle. Maximum amounts you will receive will include any benefits you receive from any other plan.
Optional Increased Accident Benefits:
Policy holders may purchase a variety of optional accident benefits which build on the basic accident benefits levels. These optional increased accident benefits follow the insured individual rather than the insured vehicle.
The Right to Sue:
In addition to the benefits, all automobile accident claimants, (not at fault) accident victims may, within the limits, sue to recover economic losses and some non-economic losses.
Deductibles:
A "deductible" is the portion of a claim for damages to your vehicle you must pay. A higher deductible usually results in lower premiums for the policyholder, but, the policyholder takes a higher financial risk.
Deductibles usually are purchased on the optional physical damage section of the policy. Coverages under this section consist of:
- All Perils (this option combines the coverages of Collision or Upset and Comprehensive. This coverage includes loss or damage caused if a person who lives in your household steals a described automobile. Coverage also applies if an employee who drives or uses, services or repairs a described automobile, steals it.
- Collision or Upset (losses caused when a described automobile is involved in a collision with another object or tips over. Objects include:
- another automobile that is attached to the automobile
- the surface of the ground, and
- any object in or on the ground.)
- Comprehensive (losses, other than those covered by Collision or Upset, including falling or flying objects, missiles, vandalism, perils included under Specified Perils,)
- Specified Perils (losses caused by fire; theft or attempted theft, lightning, windstorm, hail, or rising water; earthquake;)
Under the Direct Compensation - property damage provision of the policy, there is no deductible applied if you are not at fault in an accident in Ontario, involving another Ontario-insured vehicle (unless you have chosen a deductible to lower the premium).
There are many options available when purchasing automobile insurance, please feel free to
contact one of our sales representatives for further details on how they can customize a policy for your needs and pocket book.
