Are you a caregiver for others in your household such as children, an elderly parent or someone with a disability? You should be aware that recent changes to your auto insurance in Ontario will affect your coverage and how you are protected as a caregiver.
In the past, if you were injured in an automobile accident and unable to care for dependents in your household, your policy would provide $250 per week, plus an additional $50 for each additional dependent. These benefits help cover costs related to hiring someone to care for your dependents. More importantly, benefits were paid regardless of the degree of injury you suffered.
Changes are coming into effect for your auto policy when it renews, beginning September 1st, 2010. That means you now have choices to make. Come September 1st, the standard caregiver benefit included with your auto policy will only provide compensation if you suffer a catastrophic injury.
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If you are a caregiver in your household, you should strongly consider purchasing the higher level benefits available under your policy. The higher level benefits will ensure that if you find yourself injured as a result of an automobile accident, those dependent upon you will get the care they require while you recover from your injuries.
To better understand the changes that will be made to your policy when it renews, contact a your insurance broker for more details. Don’t deal with a broker? Given the degree of changes that have been made to Ontario’s auto policy, you may want to consider working with one.