Author:  Brian M. Cameron

No one would consider buying a car without knowing the color, the available options or how many seats the car has, yet people buy auto insurance on a daily basis without knowing any of the options.  Most people renew their auto insurance without giving any thought to the coverage that they have, or more importantly, what is available.

There are several options available for Ontario consumers.  Auto insurance in Ontario starts with a basic package.  This package will usually include third party liability coverage of $1,000,000.00.  This coverage protects your assets if you cause an accident.  Increasing this coverage to $2,000,000.00 is inexpensive.  Increasing the coverage is a prudent step to ensure that you do not lose your life-savings if you seriously injure someone.

The basic coverage also includes accident benefits and, in most cases, a Family Protection Endorsement.  Accident benefits provide coverage for things such as income replacement, medical and rehabilitation expenses and attendant care expenses.  The Family Protection Endorsement protects you if an uninsured or underinsured driver injures you or a member of your family.  You can purchase increased accident benefits and Family Protection coverage.

Increasing your accident benefits and Family Protection coverage is inexpensive.  The next time you renew your auto insurance, ask your broker or insurer about the cost and availability of these increased benefits.  Although you hope never to use insurance, if something happens, you will be glad that you did.