What are Ontario income replacement benefits ?
If you have been in an accident in Ontario, one of the first calls you may make after you have taken care of yourself is likely to your insurance company. You will need to make this call within 7 days if possible. This early reporting will help significantly when it comes time to settling your claim. If you are unable to work because of your accident, you will likely be eligible for basic weekly income replacement benefits.
How much can you receive for income replacement benefits?
These benefits will add up to 70% of your gross income , to a limit of $400 per week. There are options to top up your insurance by purchasing additional insurance coverage. Optional income replacement benefits can increase the maximum weekly pay out on income replacement benefits to $600, $800 or $1,000, depending on how much optional accident benefits coverage you purchase. I know that paying additional premiums on top of already high insurance rates seems ridiculous; however, if you ever need to access these benefits ,you really need them and would never regret your purchase. Depending on your income level, topping up your Ontario accident income replacement benefits makes a lot of sense.
If you are unsure of whether or not you are accessing all of your Ontario accident benefits and needs some advice, please contact our lawyers and we would be happy to answer any questions you may have. Besides income replacement benefits, there are many other benefits that you are most likely entitled to but not accessing through your insurance company. A free consultation with a personal injury lawyer can be very beneficial. In your meeting you will learn of all the Ontario accident benefits available and which are available to you and which are available to your family members as well. Your accident impacts you but it also has a direct impact on your family members and this can be compensated. We highly suggest you get informed.