Introduction to Changes in the Auto Insurance Reform 2016

Due to recent changes to auto insurance in Ontario, it’s the perfect time to reassess the policy you haven’t thought about in years. Your insurance company will be sending you an update in the mail, and we’re here to follow up with a conversation about your needs.

Consumers should consider more than what’s offered in a standard insurance policy. There are favourable options depending on your lifestyle. Consider updating your policy if:

* You’re a primary caregiver of young children, elderly parents or disabled family members

Consider extending your Caregiver Benefit and/or adding a Dependent Care Benefit.

* You earn more than $30,000 a year

Consider increasing your Income Replacement Benefit to $600, $800 or $1000.

* Your auto insurance policy is your only form of coverage (i.e. you don’t have a group plan through an employer or spouse)

Consider increasing your Medical Rehabilitation Benefit. If you have group insurance, most benefit packages are limited to $500 a year per practitioner, and OHIP doesn’t cover things like occupational therapy, private nursing and psychology.

Other lifestyle questions to ask yourself:

* Are you a snowbird (you travel down south for the winter)?

* Are you responsible for housekeeping or home maintenance?

* Do you have a pre-existing injury that requires regular treatments like physiotherapy or massage?