Ontario will soon allow drivers to opt out of some auto insurance coverage to save money. But should you?
The Ontario government has vowed to allow drivers to opt out of some auto insurance coverages. An expert says beware.
The Ford government announced in its 2024 budget that Ontario drivers will soon be able to opt out of some auto insurance coverage to lower their premiums.
Medical, rehabilitation and attendant care benefits will remain mandatory, while other accident benefits — including income replacement, death benefits and funeral benefits — would become optional.
And while the reforms promise to allow drivers to lower their monthlies, Ontarians still pay the highest average annual premiums in Canada at $1,796 according to Ratesdotca. For GTA drivers, that number skyrockets nearly $600 to $2,391 a year.
Some drivers, such as 24-year-old Oshawa resident John Hatherly, are taking matters into their own hands ahead of promised reforms.
Car insurance in Ontario is a “rip off,” he noted in a Reddit post last year, and the $273 a month he used to pay to insure his 2020 Kia Forte was “ludicrous,” he says.
Jack’s Note: Ontario has no fault car insurance and good drivers get treated the same as your accident a day types. That should change because it’s unfair.
