buy, at the very least, the following car insurance coverage:
Statutory Accident Benefits Coverage: This section of your
car insurance policy provides you with supplementary
medical, rehabilitation, attendant care, caregiver, nonearner
and income replacement benefits if you are injured
in a car accident, regardless of who caused the accident.
Third-Party Liability Coverage: This section of your car
insurance policy protects you if someone else is killed or
injured, or their property is damaged. It will pay for claims
as a result of lawsuits against you up to the limit of your
coverage, and will pay the costs of settling the claims.
By law you must carry a minimum of $200,000.
Direct Compensation - Property Damage (DC-PD)
Coverage: This section of your car insurance policy covers
damage to your car or its contents, and for loss of use of
your car or its contents, to the extent that another person
was at-fault for the accident. It is called direct compensation
because even though someone else causes the damage,
you collect directly from your own insurer, instead of the
person who caused the damage.
Note: Coverage under the DC-PD section of your car
insurance policy only applies if the following conditions
are met:
■ the accident took place in Ontario;
■ there was at least one other car involved in the
accident; and
■ at least one of the other cars is also insured by an
insurance company that is licensed in Ontario or has
signed a special agreement with FSCO to provide this
coverage.
If these conditions are not met, then you can make a
claim on your optional Collision coverage (if you have it),
whether or not you are at-fault. If you don’t have Collision
coverage, you may be able to pursue recovery from the
at-fault driver to the extent you were not at fault for the
accident.
Uninsured Automobile Coverage: protects you and your
family if you are injured or killed by a hit-and-run driver
or by an uninsured motorist. It also covers damage to your
car caused by an identified uninsured driver.
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