Once again auto insurance is changing in Ontario and Brokers must be ready to inform their clients.
The IBAO has an informative online webinar outlining the SABS auto insurance changes effective June 1st, 2016, available to all broker members, free of charge.
If you have not already, I urge you to take the time to view this and become familiar with the new auto accident benefits product as there will be lower auto accident benefit limits in standard auto insurance policies and new options to increase insurance coverage.
All insurers will be mailing an early awareness brochure to their clients by March 1, 2016. They will then be mailing a Point of Sale Brochure to all clients by June 1, 2016.
Click here to view the digital auto reform brochure
This will be an excellent opportunity to lead the conversation with your client, managing the message effectively will help ensure your client has the best auto insurance coverage to suit their needs. Please remind your clients that the standard auto insurance policy is just that, standard and does not provide coverages such as Dependent Care Benefit.
A number of other auto insurance changes that you may or may not be aware of;
- $500 Comprehensive deductible;
- Winter Tire Discount to be offered by all insurers – January 1, 2016;
- Reduction in maximum interest rate for monthly payment plans.
So again I will ask, is your office ready? Please visit IBAO and get informed. We are the Broker, the Product Expert; let’s make sure our clients are informed.
This article was written by IBAH Board Vice President, Ashley Manti.
Ashley Manti, CAIB
Dalton Timmis Group