Many people consider auto insurance a necessary evil. These days, you just can’t run the risk of driving without insurance. This is not only because carrying auto insurance is required by law, but also because the losses associated with car crashes are often far greater than you can bear on your own. You pay the insurance company to cover your losses in the event of an accident.
With that being said, Ontario has very specific auto insurance requirements that you’ll need to follow before bringing your vehicle out on the roadways. Continue reading to learn more about these minimum auto insurance requirements and what your statutory accident benefit insurance may consist of.
A standard auto insurance policy in Ontario will include a couple of different types of coverage. First is uninsured automobile coverage. This provides coverage to you in the event that you are involved in a collision with an uninsured driver. This coverage includes both bodily injury damage and property damage.
You will also be required to have direct compensation property damage coverage (DCPD). This provides property damage coverage up to the limits of your auto insurance policy.
However, DCPD coverage only applies if your accident occurred within Ontario, you are not at fault for the wreck, there were multiple vehicles involved in the collision, and the other involved vehicles were insured. If these conditions have not been met, you will need to file a claim under your collision coverage, if you have it. (Collision insurance is not required by law.)
Third-party liability coverage is another requirement under Ontario auto insurance laws. If you are to blame for the cause of an accident, this provides both bodily injury and property damage coverage to the injured or deceased parties. By law, you will need to carry a minimum of $200,000 in third-party liability coverage.
Statutory accident benefits coverage is also required under Ontario law and provides you with certain benefits if you should be involved in an accident.
Such benefits can include wage replacement benefits, the costs of supplementary medical care, visitor expenses, costs of maintaining your household and childcare, non-earner benefits, property damage, and other various expenses you might endure as a result of the car accident.
It is important to note that statutory accident benefits can be paid without regard to who is at fault for causing the accident, which is why it is required that all vehicles are protected by said coverage. If you have questions about how to file a claim for statutory accident benefits, you can speak with your lawyer in further detail about the circumstances of your case.
If you have questions about how auto insurance will impact your car accident injury claim, or if you are interested in learning more about how an experienced car accident lawyer in Toronto could help you get the most out of your claim, get in touch with the highly trained lawyers at Jasmine Daya & Co. You can give our office a call at 416-967-9100 or visit our website to schedule your free consultation.
At Jasmine Daya & Co., we are dedicated to helping Toronto personal injury victims and their families obtain compensation so they can move forward with their lives after an accident. We pride ourselves on treating our clients with absolute professionalism, care, and respect to ensure an excellent client experience. As a boutique law firm, we provide focused attention to each of our clients’ files in order to recover maximum compensation.... View full business profile here: Jasmine Daya & Co.
