Optionality in Ontario Auto Insurance
Brokers say optionality will save Ontario drivers $100 at most per year.
The biggest savings come from income replacement benefits ($87 a year) and non-earner benefits ($12 a year). Optionality in the Ontario auto insurance product will end up saving consumers about $100 yearly at most, with the majority of potential savings ($75) coming from income replacement benefits.
- Income replacement benefits: $75 per year
- Non-earner benefits: $12 per year
- Dependent care optionality: $0.03 per year
Effective July 1, 2026, all benefits under the Statutory Accident Benefits Schedule (SABS) will become optional, except for medical/rehabilitation and attendant care benefits.
Author's summary: Optionality saves Ontario drivers up to $100 yearly.
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