Ontario car insurance can be tricky to navigate. When purchasing your auto insurance, insurers will present you with several different options to add extra protection to your policy. But which ones are necessary? To keep you and your family as safe as possible while navigating the streets of the GTA, many insurers recommend optional auto coverage. This includes riders or ‘endorsements’, such as the OPCF 44R Family Protection Coverage. As a parent, you may be curious about what happens if your children are in an accident with you, should the unfortunate happen. Luckily for you, isure has everything you need to know when it comes to Family Protection Coverage and your auto insurance.
What is the OPCF 44R?
In addition to the mandatory auto insurance requirement in Ontario, you also have access to many different optional types. This includes Family Protection Coverage. This Ontario Policy Change Form (OPCF) is an endorsement or optional rider to your motor vehicle insurance policy. It provides you with extra protection in case injuries happen as a result of another motorist. Specifically, it protects you in case the driver does not have enough insurance coverage to pay your injury claim. This might be because they are either not insured or inadequately insured. It exists to provide insurance protection to you, the named insured, and your family members.
Another instance where this coverage comes into play is if your own coverage isn’t enough to cover a family member’s injuries that are sustained in an accident. This can be extremely stressful to go through, especially if you have to pay out of pocket.
How does OPCF 44R Family Protection Coverage work?
As a driver in Ontario, it is the law to have $200,000 in third-party liability coverage. This protects other people and their property from damage that is caused. On top of this, you are also required to have accident benefits. These cover medical expenses that follow an accident. The minimum for this is $65,000.
Family Protection Coverage works by giving you that extra piece of mind with protection that supports you and your family if the at-fault driver’s insurance is not enough. For example, if you are in an accident where the other driver is at fault and causes injury to you, there is a chance their third-party coverage may not cover your medical treatments. Having this coverage will ensure that the cost of your collision costs are covered. If you have an OPCF 44R policy for a million dollars in liability, and the driver you are in an accident has only $200,000 in coverage, OPCF 44R will provide the additional $800,000.
For a full explanation of this endorsement, click here.
Why should you get Family Protection Coverage?
At isure, we understand certain aspects of vehicle insurance can be confusing, and it can be easy to skip past additional coverage costs. However, there are many reasons why you should have Family Protection Coverage in your insurance coverage! Here are just a few examples:
1. Family Protection Coverage has your back in hit-and-runs
Nothing is worse than being in an accident. But what if the person you are in an accident with flees the scene? Unless you somehow identify the driver, you are most likely out of luck. In situations like this, everything falls on your insurance. When OPCF 44R comes into play, you will not need to be concerned with any costs regarding medical expenses. On top of this, any loss of income you or your family may have. Let’s face it, your minimum coverage can disappear quickly when it comes to the costs associated with recovery. With OPCF 44R, this is no longer something you need to worry about!
2. Family Protection Coverage is light on your wallet
Even at the highest amounts, this coverage is affordable and much less expensive than other optional riders attached to your auto insurance. While there are many factors that can affect the price of your family protection coverage. such as driving history, Family Protection Coverage is one of the cheapest add-ons you can have.
When considering OPCF 44R, it is important to make sure you don’t just get the minimum. For example, if you have $1 million in third-party coverage, consider getting $2 million in Family Protection Coverage. This is because OPCF 44R will only kick in once your third-party coverage is maxed out.
3. Eliminate risks
Let’s face it, medical expenses can be A major cost if you or a family member are involved in an accident. The last thing you want is for you to not have enough coverage after an accident with someone who has insufficient coverage. When you have Family Protection Coverage, you can rest easy knowing you are covered in even the worst-case scenarios.
If you have a limit of $1,500,000 on your policy and are in an accident with someone who only carries $500,000, OPCF 44R will provide another $1,000,000 in protection. This additional amount will be crucial if you or a family member suffers a serious injury.
Is OPCF 44R mandatory in Ontario?
OPCF 44R is not mandatory in Ontario. It is optional protection you can purchase and add to your plan.
How much will adding it increase my premiums?
The cost to add this to your policy is less expensive than other types of endorsements, like increasing your Accident Benefits coverage. Cost will be determined based on your driving record and any claims made previously on your policy.
How much Family Protection Coverage should I have?
Generally speaking, the amount of family protection coverage you choose to have is up to you. As mentioned above, you must have at least $200,000 in coverage as a minimum. With this being said, most insurers recommend having $2 million to make sure you are completely covered.
How do I add this coverage to my policy?
To add this endorsement, you will need to contact your insurer and fill out the OPCF 44 form. You will provide the amount and family members who are covered under the endorsement.
Want more information on how adding Family Protection Coverage will affect your policy and premiums? Reach out to one of our isure representatives today to discuss adding this endorsement and peace of mind to your auto policy.