Get ready to get a notice from your insurance company that auto insurance benefits in Ontario are changing.
The changes will come into effect on June 1st and the amount your provider will cover for injuries will be lower than before.
Coverage limits for injuries described as “catastrophic,” are being slashed in half. The $2 million combined limit for medical, rehabilitation and attendant care will drop to $1 million.
The Financial Services Commission of Ontario claims this and other changes will help make premiums more affordable.
The most significant changes are in the chart below:
Drivers will have the option of buying additional coverage but they’ll have to pay a higher premium for it.
Other key changes take effect June 1. They include:
Insurers will no longer be able to use a minor at-fault accident as a reason to increase a driver’s premiums.
The standard deductible for comprehensive coverage will increase from $300 to $500.