In Ontario, you can buy optional Accident Benefits coverage under your auto insurance policy in case you're injured or disabled in a car accident. This may be the right choice for you if you don't have a health insurance plan that includes accident benefits over and above OHIP (Ontario Health Insurance Plan).
To help you decide, here are some tips for different life situations.
Retired
If you have no dependants, you don't need to buy optional Dependant Care coverage. And if you're not working any more, you probably don't need optional coverages like income replacement, as you can still count on your pension income if you're injured in a car accident.
However, if you don't have a health insurance plan that includes accident benefits, you might want to buy optional benefits through your auto policy for medical and rehabilitation expenses not covered by OHIP.
Self-employed
If you don't have a health insurance plan with coverage for short-term and long-term disability, or medical and rehabilitation expenses not covered by OHIP, you could buy optional benefits through your auto policy. This type of coverage can help if you can't work because of a car accident.
Professionals
If you have a health insurance plan through your employer covering short-term and long-term disability, medical and rehabilitation expenses, then you may not need to buy optional benefits through your auto policy. If you're not sure, feel free to call us to speak to an insurance advisor.
Students
Check with your parents to see if you're covered by their health insurance plan for accident benefits not covered by OHIP. If you are, you may not need to buy optional benefits through your auto policy.
Also, most students don't have an income that would be eligible for higher than standard limits for income replacement so in most cases, there's no need to buy additional income replacement coverage. Finally, if you don't have dependants, you won't need optional Dependant Care coverage.
Need help?
Remember, this is just a guide. For help and advice based on your specific needs, call us to speak with an insurance advisor.
1-888-476-8737
Lean more about Statutory Accident Benefits and the options available
