What do optional accidental benefits do?

Once you renew your vehicle insurance policy, you will have various options to enhance your coverage if you ever sustain injuries in a traffic accident. The basic automobile insurance policy has the lowest premiums, which is appealing to most people. However, Canadians who have ever been involved in an auto accident unanimously agree that the standard coverage isn't enough.

For this reason, you need more than just the basic vehicle insurance policy. There are many types of optional benefits you can choose from. Consult with a reputable accident benefits law firm to determine the optional benefits that best suit your situation. Here's a summary of the available optional benefits and a description of various circumstances under which you may want to consider purchasing them.

1. Attendant care/medical & rehabilitation benefits

Attendant care or medical & rehabilitation benefits are essential to policyholders who have sustained injuries in vehicle accidents. These accident benefits Ontario are usually funding for the necessary treatment options such as psychological counselling, physiotherapy, exercise rehabilitation, and massage therapy. Attendant care benefits offer compensation for the professional services you need, such as a personal support worker.

2. Income replacement benefits

Suppose you have been injured and can't return to your work in full capacity. In this case, income replacement benefits provide up to $400 weekly or a maximum of 70% of your gross income (whichever amount is less). Note that you must be 65 years old and pass the necessary eligibility test. These benefits can continue even after 65 years but in a somewhat reduced quantum.

3. Caregiver benefits

Under the standard auto insurance policy, the caregiver benefit is only available to people who are catastrophically injured. Suppose you sustained injuries and cannot take care of your children and other dependents to the extent you could before the accident. In that case, caregiver benefits provide $250 weekly for the first dependent and $50 for every dependent for a two-year period.

It is essential to mention that if you're the primary caregiver for your kids or other dependents and are unemployed, you need help in the form of caregiver benefits. Remember, you can't receive caregiver benefits and income replacement benefits at the same time.

4. Home maintenance and housekeeping expenses

Under the standard insurance policy, housekeeping and home maintenance benefits are only available to applicants who sustained catastrophic injuries in an accident. Home maintenance and housekeeping benefits provide up to $100 weekly for life. You can use this money to pay for home maintenance assistance and professional housekeeping. You should buy this optional insurance benefit if you are the individual primarily responsible for taking care of your home and you do not pay for professional housekeeping help.

5. Indexation benefit

Generally, indexation benefits are not available under the standard auto insurance policy. If you purchase it, it will provide for automatic yearly adjustment of your other optional benefits in accordance with the Consumer Price Index in Canada. You can purchase this optional benefit if you have extra cash to spend. However, it will slightly increase the other benefits.