Getting Automobile insurance is an important and necessary process if you own or drive a vehicle. Ontario law requires that all motorists have automobile insurance coverage. If you drive in Ontario without insurance you can face severe penalties and be fined anywhere from $5,000 to $50,000.
To help consumers, the Government of Ontario has implemented changes to automobile insurance policies to make it more affordable and to provide increased coverage. This means that the benefits and coverage you receive in a standard auto insurance policy have changed. Some coverages and benefits were reduced, while some options for increased coverage were eliminated or changed to help keep premiums down. These changes came into effect on June 1, 2016.
If you renewed your policy before June 1, 2016, the changes to your insurance plan will come into effect the next time you renew your policy. If you buy or renew a policy on or after June 1, 2016, your coverage will be set to the new standard automobile insurance at the lower premium. This means that any increased coverage options need to be re-assessed and re-applied.