Posts Tagged Ontario auto insurance

Need To Know! NEW Auto Insurance Changes

Need To Know! NEW Auto Insurance Changes

Ontario’s NEW Auto Insurance Reform

Auto reform changes come into effect this year: the winter tire discount was effective as of January 1st  but most changes come into effect June 1st.

In a nutshell, new regulations include lower accident benefit limits in standard insurance policies, new options to increase coverage, new procedures for payment and a mandatory Winter Tire discount offered by insurance companies across Ontario.

Why does any of this matter?

Car insurance can sometimes come with negative connotation – monthly expenses could be used elsewhere (for that vacation you need, for example). It’s perhaps only at renewal when you might think about the greater issues at play: insurance as a safety net, protecting against risk; insurance as a critical factor in individual and collective welfare. If you, a friend or loved one is involved in an accident, it’s at that point your outlook changes to one of appreciation. What would have happened if a policy hadn’t been in place?

The opportunity with this new set of measures is to step back and reflect on what you really need. Does your employer provide a Group Insurance Plan? Look into what your policy covers… most benefit packages are limited to $500/year per practitioner, which can be exhausted quickly even in cases of minor accidents. If you have children or elderly parents that depend on you, who would care for them if you were injured? If you had to hire someone to carry out household responsibilities, how would you subsidize the expense?

Standard policies are just that – standard. They don’t include benefits like dependent care, which reimburses additional expenses to care for your dependents. While auto insurance products are becoming more affordable for consumers, gaps might exist depending on your lifestyle. The good news is there’s opportunity to fill those gaps by increasing coverage or adding options to cover specific areas of your life. Purchasing appropriate coverage is an investment in your family, your children, your parents… ultimately it’s an investment in your lifestyle. What could be more important?

Watch for awareness mailers from your insurance company, and make sure to talk to your broker at Moller Insurance Ltd. to ensure you have the best possible coverage based on your lifestyle.

The following link contains an introduction video to the changes taking place June 1, 2016.

https://www.youtube.com/watch?v=IhpS7dzJsBM

Posted in: Car Insurance, Insurance, News & Events, Uncategorized

Leave a Comment (0) →

Most Stolen Cars of 2013

2013 Most stolen vehiclesInsurance Bureau of Canada (IBC) released its annual list of the top 10 most frequently stolen vehicles in Canada and reported on new trends in organized auto theft.

According to Rick Dubin, Vice-President, Investigative Services, “Organized criminals are now dismantling higher-end vehicles and exporting them in pieces instead of as whole vehicles because they are less likely to be detected.” These vehicles get reassembled as far away as West Africa and then resold, he says.

Dubin believes this new creative approach is a reaction to detecting and seizing $8 million worth of stolen vehicles in 2013 by Canada Border Services Agency working in partnership with IBC investigators at the Ports of Montreal and Halifax. “It’s a trend we will continue to watch.”

On IBC’s top 10 list, the 2000 Honda Civic SiR 2DR sits at the top for the second year in a row and high-end SUVs and Ford trucks hold most other spots.

“Thieves consistently target the Honda Civic to chop for parts. Those parts are easy to resell because there are so many Civics on the road,” says Dubin.

The stolen Escalades and Ford series trucks on the list are now showing up less frequently at the ports for export, says Dubin. They are being re-identified (reVINed) and sold throughout Canada to unsuspecting consumers.

“Auto theft remains a big business for organized crime in Canada,” Dubin says.

1. 2000 HONDA CIVIC SiR 2DR

2. 2006 CHEVROLET TRAILBLAZER SS 4DR 4WD SUV

3. 2002 CADILLAC ESCALADE 4DR 4WD SUV

4. 2005 CADILLAC ESCALADE 4DR 4WD SUV

5. 2006 FORD F350 SD 4WD PU

6. 2005 CADILLAC ESCALADE ESV 4DR AWD SUV

7. 2006 ACURA RSX TYPE S 2DR 2D

8. 2007 FORD F250 SD 4WD PU

9. 2007 FORD F350 SD 4WD PU

10. 2003 ACURA RSX TYPE S 2DR 2D

Find the full article from IBAO here

Posted in: Car Insurance, Insurance

Leave a Comment (0) →