Ontario Car Insurance Changes Effective September 1 2010
The last days of summer rushed behind us and here we are enjoying the first days of fall
. As the season changed it had brought some changes to car insurance affecting the accident benefits. You have probably heard about these innovations which had come into effect on September, 1st.This issue caused reaction among Canadians. The reform carried out by Ontario government is aimed to make car insurance rates more stable and car insurance coverage itself more flexible for drivers. However, many people claim that these changes will only make them pay more for the less coverage.
The fact definitely draws extra attention of those who drive in Toronto. This means of almost all citizens because who doesn't drive. Everyone drives in Toronto except for those under 16. Obviously, information on the aspects that have been changed to car insurance as a whole is very much relevant and should be brought to public attention in every detail. If you haven't got any notification letter from your insurance company yet you'd better get in touch with your car insurance broker for detailed explanation. It is important you learn about the amendments made to your insurance policy so that you could customize it to your own needs. Here are the key aspects that have been changed.
Minor Injury Cap
With the aim to reduce claims on less serious car accidents it was decided that those who suffer minor injuries in car accidents will be able to get $3,500 worth treatment. This will become a portion of medical and rehabilitation accident benefits.
Insurance Rates Where You Are 25% At Fault
It used to be that your car insurance premiums increase in the event you were found 25% at fault in an accident. Under new rules, your car insurance rates won't be increased under the same conditions.
Use of Credit Scores Ban
Up to this recent time your credit score used to be among the most powerful factors which could affect your car insurance premiums. To get the most-up-to-date information about your credit score car insurance companies would access your credit score. This was done with the aim to provide a quote for you. According to the recent amendments insurance companies are banned to get this sort of data.
Direct Compensation
In case your car was damaged in an accident your insurance carries is obliged to cover the cost of repair. That means that you'll get direct compensation as part of your car insurance policy. According to the new rules you have a choice to increase deductibles. You can pay $300-$500 out of your own pocket and therefore reduce your car insurance premiums.
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