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Auto Insurance Update - What you Need to Know

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By now you may have heard, or have read in the letter received from our office that there are significant changes coming to auto insurance in Ontario effective September 1st, 2010. These changes directly affect the Accident Benefits coverage in your auto policy relating to any physical injuries that may occur in an automobile accident. Sixty days before your policy renews you will be receiving the following correspondence from our office which includes a checklist that will facilitate the selection of optional coverages (if you do no have the checklist, you may download it by clicking on the link in Step 2 below).

It is important to note, that if you have an existing policy that renews after September 1st, your coverage will not change until your expiry date.

A Message to Brokers Trust Insurance Group Customers

Beginning September 1, 2010, The Ontario Government has introduced significant reforms to the auto insurance system, in order to provide the consumer, more choice over the coverages and price you pay for insurance. These changes amend the Accident Benefits coverage within your auto insurance policy.

If you are buying a new policy or renewing an existing one, the changes will allow you different choices to customize your policy to suit your needs. A table outlining the available optional coverages is available (Step 2 below).

Please review the table, select your intention beside the appropriate box and return it to our office. If you find the new standards benefits acceptable, again please confirm your intention at the bottom and return this form to our office. The renewal offered to you now has the new standard basic benefits.

Please give these choices your careful consideration. We all have different needs that are based on many factors. For example, you may have dependants, you may be retired, you may be married or single, so choosing the right benefits are vitally important. If you have a disability policy through your employer or with a private insurer, these optional increased accident benefits coverage may be redundant.

Your Next Steps

STEP 1
Learn more about Auto Insurance changes in Ontario by downloading Frequently Asked Questions, FSCO's website or visiting www.mychoicecarinsurance.ca

STEP 2
Review and complete the Your Desired Benefits form (requires Adobe Acrobat Reader)

STEP 3
If you require any further clarification or assistance in completing the Accident Benefits checklist, please contact your Account Manager, and they will be glad to guide you through the process.

STEP 4
To stay informed and receive upcoming newsletters, please join our email mailing list.

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