If you’ve been injured in a car accident, you are eligible to receive Statutory Accident Benefits in Ontario and depending on the injuries you suffered, the policy limits would change. AND….if you have purchased additional benefits or ‘Optional Benefits’, your benefit limits increase and you are eligible for certain benefits despite suffering from non-catastrophic injuries.
Please check or confirm with your insurance adjuster/agent and/or broker if you have purchased Optional Benefits on your policy as this will affect your eligible benefits; if you do not have Optional Benefits, it may be a good idea to pay a nominal monthly premium amount for the addition of Optional Benefits. Especially, if you are retired, self-employed, you have dependents, or are unemployed or don’t have additional benefits through your employer or other policies, and if you wish to have additional coverage to assist in paying for your out-of-pocket expenses not covered by OHIP. You can discuss the cost of your premium with your insurance agent/broker. And whether your circumstances or need for Optional Benefits is right for you.
You can discuss the following with your insurance agent before considering the purchase of Optional Benefits:
If you earn more than $400 per week (70% of your gross earnings)
* Income Replacement Benefits (IRBS) – you can increase your weekly income of $400 to $600, $800 or $1,000.00
Depending on your medical needs and if you have/do not have extended health coverage or a private health plan, you may want to consider the following
* Medical/Rehabilitation and Attendant Care Benefits – ok this is a bit tricky – depending on what Optional Benefit amount you purchased – if your policy reads
- An optional medical, rehabilitation and attendant care benefit of up to $130,000 plus the amount of any applicable harmonized sales tax;
- An optional medical, rehabilitation and attendant care benefit of up to the following maximum amounts plus the amount of any applicable harmonized sales tax of up to either $1,000,000 or $2,000,000.00
If you paid someone to provide housecleaning and/or home maintenance, you may want to consider additional benefits on your policy:
* Housekeeping/Home Maintenance Benefits – you are eligible to receive this benefit at $100 per week, even if you do not suffer from catastrophic injuries and not payable past two years, unless you have been deemed catastrophically impaired
If you are a Primary Caregiver at the time of the accident, please consider a caregiver optional benefit:
* Caregiver Benefit: if you suffer from non-MIG and non-catastrophic injuries, you are eligible to receive this benefit at $250 per week and $50/week for each additional dependent and suffer a substantial inability to provide caregiving within 2 years of the accident, unless you suffer from a complete inability to carry on a normal life
You may want to consider purchasing an Optional Catastrophic Benefit or impairment, if in the event of a major car accident, you suffer from a catastrophic impairment
- Optional Catastrophic impairment benefit for medical, rehabilitation and attendant care benefits of up to $1,000,000 plus the amount of any applicable harmonized sales tax
AND Death and Funeral Benefits – depending on the amount of the premium for Optional Benefits, the maximum amount will vary (I suggest discussing these options with your insurance agent/broker)