Hi,

I just received the renewal notice for my insurance policy. Due to the recently announced reforms by the Ontario govt., this time they have sent a lot of documents explaining the difference between the new standard policy and my existing insurance policy. As usual they have put so much legal jargon in there that I couldn't read it beyond page 1.

I am not able to understand what has really changed. The document also says that the new options will allow me to make a better choice, but I am not able to tell the head from the tail and how my choices are going to affect my insurance bill.

Could anybody please tell me, in simple language, the three most important things/options I should look for and their impacts?

Thank you,

MG.


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Almost all problems in our lives can be traced back to a lack of knowledge.

The max amount you can claim on some of the benefits have been reduced. You have option to buy more insurance by paying a higher premium, that is what they are calling "more choice." I think this table should be fairly easy to understand http://www.ibc.ca/en/Car_Insurance/ON/Auto_Reform/IBC_AUTO-REFORM_ONSAIP_chart.pdf

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