IMPORTANT CHANGES TO AUTO INSURANCE EFFECTIVE SEPT 1, 2010
The Ontario government has introduced new auto insurance reforms in an effort to control claim costs, stabilize premiums and provide more choice to consumers. These reforms concentrate on long term rate stability, not on immediate price reductions. Your individual insurance needs and coverage selections will now affect the price you pay for insurance.
Effective on policies renewing on and after September 1, 2010, there is a REDUCTION IN COVERAGE under several areas of the Accident Benefits portion of your policy. Your will however have options to purchase optional increased benefits that best meet your needs and budget.
As always, your individual insurance needs and coverage selections will determine the price you pay for insurance. YOUR RENEWAL WILL BE ISSUED SUBJECT TO THE NEW REDUCED STANDARD ACCIDENT BENEFITS unless you advise otherwise, prior to your renewal date.
We encourage you to contact our office should you have any questions and highly recommend you review the following documents and websites to determine the need to purchase optional increased coverage.
Providing More Choices to Consumers
Auto Reform Benefits and Options Available
Summary of Important Changes to Your Policy
What’s Next for Ontario Auto Insurance
Financial Services Commission of Ontario
Insurance Bureau of Canada
My Choice Car Insurance