Big changes are coming to Ontario auto insurance on July 1st, and they affect something most drivers rarely think about… until they desperately need it: income replacement benefits (IRBs). Let’s walk through what’s changing, why it matters, and how to protect yourself and your family.
What Are Income Replacement Benefits? (And Why Should You Care?)
IRBs are among the most important parts of your policy, and losing them could turn a bad day into a financial disaster. Imagine you're in a car accident and can’t work anymore. Bills don’t stop. Rent or mortgage payments don’t stop. Groceries don’t stop.
Right now, your auto insurance automatically steps in with weekly income support to help you stay afloat while you recover. You don’t have to ask for it. It’s just there. But that’s about to change.
