Changes are coming to auto insurance policies in Ontario. Here's what you need to know
Ontario is updating auto insurance regulations to allow drivers to opt out of certain benefits, such as funeral and income replacement coverage, in an effort to provide more flexibility. While this may lower premiums, experts warn that consumers risk being underinsured in the event of a serious accident.
Why it matters
Changes to mandatory insurance coverage directly impact consumer financial protection and the affordability of living in Ontario.
June 28 | Duration 2:58 As part of new Ontario auto insurance rules which take effect July 1, drivers will be able to opt out of some accident benefits that were previously included in standard coverage. CBC's Mercedes Gaztambide breaks down what drivers need to know. Social Sharing Auto insurance premiums could go down this summer — but at the cost of many people's coverage.
The article presents both the government's goal of flexibility and the experts' warnings about potential risks.
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