Motor-vehicle accidents (MVA) can happen out of the blue and leave a trail of destruction in their wake. Injuries ranging from minors cuts and bruises to catastrophic, life-threatening injuries and even death can result from collisions. Victims and their families may face life-long physical, financial and emotional burdens.

Automobile insurance provides a degree of security for drivers and vehicle owners and it is mandatory in most parts of the world to have vehicle insurance. However, it’s only when accidents and injuries happen that we become aware of the limits and thresholds imposed by the insurance policy.

One of the main concerns with consumers is the high rates of auto insurance premiums in Ontario. As a result, they prefer to shop around, compare rates and then select a policy that offers the best options.

However, cheapest may not always be the best. If you suffer serious injuries in a collision, you face:

• Income or wage loss
• Medical and rehabilitation costs
• Pain and suffering

There may be additional expenses connected with care-giving, assistive or mobility devices, modifications to work-place or home. The emotional costs of loss of earning capacity, enjoyment of life, etc.

Ontario has the highest premium rates in Canada although it also has among the lowest accident rates in the country. Hence consumers tend to focus on getting the best rates instead of the coverage that the policy offers.

Injured victims in Ontario are entitled to statutory benefits regardless of fault. This compensation is to be paid out of your own insurance coverage, subject to the thresholds and limits available in it. Hence, in the case of serious injuries, statutory benefits may not cover the entire costs of care and treatment. Another option is to file a personal injury suit, preferably with the assistance of an experienced Guelph personal injury lawyer.

Tips On Selecting The Right Policy

While selecting a policy, it’s important to keep certain factors in mind that would not only give you the optimal premium rates, but also provide enough benefits in case of a claim. There are many factors that affect your premium payments. Hence, smart shopping is a crucial part of selecting the right policy.

Consult a qualified and experienced automobile insurance professional: Insurance regulations, new products, new channels of distribution etc are constantly changing. A knowledgeable professional who keeps updated on new information would provide better assistance. Additionally, there are many risks involved in revealing personal information to less-trustworthy third parties or on-line agents/brokers.

Be aware of your province’s automobile insurance regulations: There may be certain aspects of coverage that have to be purchased only from certain government-owned or operated systems. Minimum liability in Ontario is $200,000 but it can vary from province to province. Mandatory coverage in Ontario is available only if you were not at fault. In the case of minor injuries, there are limits to benefits, regardless of the coverage you’re entitled to.

Experienced Guelph personal injury lawyers would advise you to compare and consolidate your and family-members’ existing coverage, look at reviews/ratings for your insurance provider and keep yourself informed about all aspects of your policy.