The Importance of Optional Coverages under the Ontario Statutory Accident Benefits Schedule (SABS)
Every Ontario motorist requires car insurance. Ontario has a standard automobile policy, which provides standard Statutory Accident Benefits (SABS) for anyone involved in a collision. However, there is an option to purchase more coverage to protect you and your loved ones in the event of an accident.
The standard SABS coverage offers a combined limit of $65,000.00 for attendant care and medical and rehabilitation benefits. If not used, these benefits expire after 5 years. Claimants may claim income replacement benefits of up to $400.00 per week. Housekeeping and caregiver benefits are not available to parties under the standard policy, unless they have sustained a catastrophic impairment.
Often, the standard SABS policy is insufficient to meet a claimant’s financial or care needs. However, Ontarians are able to purchase a variety of optional benefits, including:
- Enhanced Medical, Rehabilitation and Attendant Care Benefit: either $130,000 or $1,000,000
- Increased Income Replacement Benefit: up to $1,000 per week)
- Caregiver and Housekeeping Benefits for non-catastrophic injuries
Optional benefits are flexible and designed to fit your specific situation. Usually, these benefits can be added for a small monthly increase in your premiums. While the last thing that most people want to do is pay more for automobile insurance, the peace of mind optional benefits is worth the extra cost. To determine what options are available to you, contact your insurance broker.
