Changes to auto insurance policies could cost you money: Kevin Marshall

Changes to accident benefits by the insurance industry last fall may have resulted in a small decrease in rates to policy holders, but unless they read the fine print and take action, they’re likely getting less bang for their buck, says Toronto personal injury lawyer Kevin Marshall.

Marshall says that on Sept. 1, 2010, there were a number of changes to auto insurance, both accident benefits (no fault) and tort (at-fault). If you are to get into a car accident, you are not likely to enjoy the benefits you once had.

“The insurance industry sold this as providing more choice for customers, which is a good thing. But, in fact, if you were to compare what you are getting before these changes and what you are getting after, you will actually end up likely paying more money than you did before,” says Marshall.

“Most people haven’t paid enough attention to these changes. They just assume there’s not a whole lot of difference between what they got by default before Sept. 1 and what they got after that date,” says Marshall. “But, in fact, there’s been many significant changes to what they receive.”

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