Ontarians may not understand their auto insurance: survey

82% think that collision coverage is included in a standard policy

Just 10 per cent of Ontarians who have car insurance are very knowledgeable about the elements in a standard auto policy, a new FSCO survey found.

While 75 percent reported they are familiar with benefits and coverages, their quiz answers weren’t up to snuff. A strong majority (82 percent) stated that collision coverage is included in a standard auto policy, when in fact it is extra coverage. Even with those who were “very familiar,” only 37 per cent were aware that medical, rehabilitation and attendant care were included in their policies.

Read: Only 42% of Ontarians aware of auto insurance changes 

This survey comes in the wake of new auto insurance reforms that were implemented on June 1, 2016.

“Understanding your policy is the first step towards making sure you are protected if you are ever in an accident,” Tom Golfetto, executive director of the automobile insurance division at FSCO said in a release. “There are many options that allow Ontarians to tailor their coverage to meet their needs, but drivers need to take a more active role in learning about their policy and making educated and informed decisions.”

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Transcontinental Media G.P.