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Auto Insurance Benefit Limits: Advice from an Automobile Accident Lawyer

By Flux
Edited by Admin
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With the many different types of insurance benefits available in even the most basic insurance plans, you can hardly be blamed for losing track of what you’re entitled to after a serious car accident. Maybe you read over your automobile insurance policy before you signed on the dotted line, but it would take a savant to remember all the details of minimum liability, medical payments, economic and non-economic losses, and so much more. Fortunately, an automobile accident lawyer makes a career out of knowing these details, and we’ve assembled a breakdown of the various car accident insurance benefits and payments that you might be owed after an automobile collision. Remember that these examples represent only the compulsory minimum insurance coverage for Ontario drivers, and that your own policy may have higher limits.

 

Third Party Liability

 

Canada’s insurance law mandates that all drivers have at least a basic insurance policy. One of the core aspects of these basic policies is the amount of third party liability coverage. Third party liability coverage is money that insures you against property damage and injury lawsuits levied by other drivers involved in your accident. The compulsory minimum in Ontario is $200,000, though if both property damage and bodily injury exceed that figure then property damage payment caps at $10,000.

 

Medical Payments

 

Insurance policies use a two-tiered system to award payments for medical expenses. For most injuries, the minimum compulsory payments equal $100,000 per person, including the cost of rehabilitation but excluding any costs already covered by a health insurance policy, government health insurance, etc.  and the minimum for attendant care is $72,000. However, if your injuries are considered “catastrophic” by law, both of those minimums rise to $1 million. Catastrophic injuries include paralysis, amputation, total loss of vision, or serious brain injury., Check out our post for a more detailed description of catastrophic injury from an automobile accident lawyer.

 

Disability Income Benefits

 

If your car accident injury leaves you with a “disability” (i.e. any chronic injury that limits your physical capabilities) severe enough that you need to miss work as a result, you are entitled to income replacement benefits. These are capped at 80 per cent of your net income or $400 per week, with the minimum set at $185 per week. You can receive income replacement benefits for a maximum of 104 weeks (i.e. two years). However, the time limit is capped at between 12 and 16 weeks for whiplash injuries.

 

These payments are only a few of the many sources of remuneration you may be eligible to receive after an automobile injury. An automobile accident lawyer can help you to sort through these and the others, including impairment benefits, death benefits, and funeral expenses (if such a horrible thing occurs). They can also help you to deal with insurers, since the insurers are responsible for administering payments and benefits after a motor vehicle accident. Toronto personal injury lawyers are on your side: they make sure that you get everything that you deserve and everything that you need.

 

Sources:

https://www.fsco.gov.on.ca/en/auto/brochures/Pages/brochure_autoins.aspx#six

https://www.insuranceinstitute.ca/-/media/PDFs/CIP-PDFs/C14OntarioAddendumSept2010revised%20-%202009%20text.pdf

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