Creighton & Company: A Toronto Insurance Company: Protect Yourself

Insurance For People Who Own Or Lease A Car

Car Insurance Coverage Details

Mandatory Coverages
Optional Coverages
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Mandatory Coverages
Third-Party Liability	This provides coverage for you if someone is killed or injured or their property is damaged in a car accident.	Minimum coverage required by law: $200,000. At Creighton & Company we strongly recommend a minimum of $1,000,000.
Accident Benefits	This covers your medical and rehabilitation expenses and provides income replacement if you’re injured in a car accident, regardless of fault.	Higher limits of coverage can be purchased, *see below for details*.
Uninsured Automobile Coverage	This protects you if you’re involved in a car accident with a hit-and-run driver or a driver who does not have any car insurance.	Automatically included.
Direct Compensation – Property Damage (DCPD)	This allows you to collect directly from your insurance company for damages to your car and its contents if someone else is responsible for the accident.	The standard deductible for this coverage is $0. You can reduce the premium on this portion of your policy by increasing it to $300, $500 or $1,000.

Tailoring your policy

Standard car insurance policies exclude several important coverages or place limitations on others. In many instances, it's advisable to purchase additional coverage through available policy endorsements to ensure you have the coverage you need and want.

We can provide you with a more complete explanation of optional coverages and ensure that you are adequately protected.

Optional Coverages

Optional Physical Damage Coverages
Collision	Coverage for damage to your vehicle if it's involved in a collision or rollover	Standard deductible is $500	At Creighton & Company we strongly recommend you purchase these coverages to protect your investment.
Comprehensive	Coverage for damage to your vehicle caused by fire, total or partial theft, broken glass and other specified risks.	Standard deductible is $300

O.P.C.F. 6a - Permission to Carry Paying Passengers	Gives permission to the Insured to use the automobile to carry passengers for compensation. Generally an insurance company is only prepared to provide this coverage to someone who is carrying fellow employees and/or neighbours for compensation to and from work.
O.P.C.F. 16 - Suspension of Coverage O.P.C.F. 17 - Reinstatement of Coverage	These policy endorsements provide for the suspension and later reinstatement of coverage in the event the insured car is taken off the road for a period of not less than 45 days. The advantage of O.P.C.F. 16 over the normal deletion of coverage is that the policy continues to provide certain Third Party Liability, Accident Benefits and Uninsured Automobile coverage while the described automobile is in storage.
O.P.C.F. 19a - Agreed Value of Automobiles	This policy change form provides physical damage coverage for a car on a stated value basis. Professional appraisals are required to substantiate the value.
O.P.C.F. 20 - Loss of Use	Provides for a rental of a car while your vehicle is out of use due to a covered physical damage claim.
O.P.C.F. 27 - Liability for Damage to Rented Automobile(s)	Extends coverage for liability or for loss or damage arising from the operation of a rented car, including its equipment.
O.P.C.F. 38 - Agreed Limit For Automobile Electronic Accessories & Equipment	This endorsement increases coverage for non-factory installed sound equipment and electronic communications equipment against theft or attempted theft above the maximum $1,500 limit contained in the standard policy.
O.P.C.F. 43/O.P.C.F. 43a - Waiver of Depreciation	Waives depreciation if you are the original owner or lessee of a private passenger car and the total loss or damage occurs within a specified time of the purchase or lease (usually 3 years).

Optional Increased Accident Benefits Coverage
Your standard car insurance policy includes basic Accident Benefits coverage. However, if you don't have a comprehensive benefits program which includes long-term disability coverage or you earn more than $40,000 a year, you should seriously consider purchasing higher limits of coverage. This will ensure your're fully protected in the event you're unable to work again due to an accident
Coverage	Minimum Standard Coverage	Optional Limits
Income Replacement	Standard car insurance policies include weekly income replacement up to $400 (net after taxes) in the event you are unable to work due to an injury received in a car accident.	Increased limits of $600, $800 and $1,000 a week are available for higher income earners.
Income Replacement Indexation	The income replacement benefit excludes any adjustment due to an increase in the cost of living (inflation).	Purchasing this optional benefit will allow for your benefit to be increased by the cost of living.
Increased Limit for Medical, Rehabilitation & Attendant Care	Standard car insurance policies provide up to $1 million in coverage for medical, rehabilitation and attendant care expenses.	An additional $1 million in coverage can be purchased giving $2 million in total coverage.
Increased Death Benefit	The standard coverage includes a $25,000 death benefit to a surviving spouse and $10,000 to each surviving dependant and a $6,000 funeral benefit.	These limits can be increased to $50,000 for a surviving spouse and $20,000 to each surviving dependent and $8,000 funeral benefit.
Increased Caregiver and Dependent Care Coverage	The standard coverage includes $250/week coverage for unpaid caregivers (including stay-at-home parents) who are unable to engage in caregiving plus $50/week for each additional dependent.	Increased coverage can be purchased that will provide $325/week in expense coverage plus $75/week for each additional dependent. It also provides a dependent-care benefit of $75/week for one dependent plus $25/week for each additional dependent to a maximum of $150/week.

Note: Please refer to the O.A.P. 1, Ontario Automobile Policy, for exact wordings, terms, conditions and coverages.