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Understanding No-Fault Insurance Benefits in Ontario – Standard vs. Optional Benefits

In our post  Understanding No-Fault Insurance Benefits in Ontario we discussed the general nature of no-fault benefits in Ontario as well as the fact that the new SABs (Statutory Accident Benefits) now apply to all car, truck, motorcycle and SUV accidents occurring after September 1, 2010 In this post in our No-fault Benefits series, Sheila Minnie talks about the difference between Optional and Standard Insurance Benefits.

Optional Benefits  Available for Ontario Auto Insurance Policy Holders

When you renew your automobile policy today, your broker or insurance company should be explaining to you that you can purchase optional benefits for an increased insurance premium as outlined by FSCO guidelines to insurance companies.

Optional Increased limits for No-Fault Benefits

In some cases what these optional benefits do is provide increased limits for the various categories of no-fault benefits.  For example, there is the ability to purchase additional insurance to increase the maximum amount of weekly income replacement benefit available to you from the standard $400.00 per week to $600.00, $800.00 or $1,000.00 per week.

Optional Additional Benefits

In other cases, these optional benefits provide benefits that used to be included under the old SABs (for accidents occurring between November 1, 1996 and August 31, 2010) that are no longer included with the standard policy.  Housekeeping and Home Maintenance benefits used to be available up to a maximum of $100.00 per week under the old SABs.  Now, you must have purchased optional benefits in order to receive any Housekeeping and Home Maintenance benefits for any injuries apart from catastrophic ones.

Review your Ontario auto insurance policy to be sure of your coverage

Clearly, it is very important for you to discuss with your broker or insurance company what benefits you are paying for and whether it makes economical sense for you to purchase Optional Benefits.  Optional Benefits must be purchased prior to any accident for which they are claimed.  So, take the time when you renew your policy to carefully consider your various options to ensure there are no surprises later on.

In the event that you are involved in a serious car accident , it is critical that you are aware of what no-fault benefits you are entitled to receive, whether you have the standard policy or optional benefits.

Learn about the Minor Injury Guideline and how this may affect your accident benefits in our next post in the no-fault series from Sheila Minnie.

Our team of  experienced Ontario personal injury lawyers have the expertise to ensure you are accessing all the no-fault benefits available to you and would be pleased to sit down with you in your home town for a free initial consultation. Contact us to book a one on one appointment with a car accident lawyer in Ontario.

Call 1-800-563-6348 to speak to an Ontario Injury Lawyer today


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