January 12, 2010, 5:00 am

Extras in Ontario

by: The Financial Blogger    Category: Insurance
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Optional coverage with auto insurance is sometimes a good thing for those situations that arise that are out of your control. Disability insurance can be added to your auto insurance too, but it is sometimes less expensive and includes better benefits if you get it somewhere else.

One optional benefit for coverage includes income replacement. A car wreck can leave you disabled and replacing your income may become necessary. Weekly payments can be made that total up to 400 dollars. With income replacement, benefits the payments can increase to $600 or even to $1,000.

Income is not the only loss that can occur when a car accident occur. Medical, rehabilitation and attendant care benefits can also be covered through a car insurance plan. This optional insurance benefit can cover up to $1,000,000 in certain costs and that is raised to $2,000,000 when the accident is disastrous. This type of insurance benefit can cover costs with chiropractic treatment, dental costs, and other medical care.

Another optional coverage benefit is dependant care. Young children are often affected by the effects of a car accident. Being an employed parent at the time of the accident is required and having to pay for childcare as well. With insurance dependant care benefits, $75 is paid for the first child and $25 for each additional child.

With some car accidents death can occur. It is a good idea to have optional coverage that can help with this. The spouse of the deceased will obtain a monetary amount, usually $25,000, in the event of this tragedy. With added benefits, this can increase to $50,000. Children can receive $10,000 and $20,000 with extra benefits. Funeral costs are also compensated with $6,000 without added benefit and $8,000 with the extra.

When injured in a car accident that can affect income as well as those that care for others, caregiver benefits are a great addition. If you are a full time caregiver at the time at the automobile accident, this added bonus can be a wonderful safeguard. The optional coverage provides $250 weekly and $325 if you add the caregiver benefits to the plan. It also pays for dependants. Generally, it is $50 weekly for each, but can increase to $75.

disclaimer: this post was offered by TD Canada Trust

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