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This document outlines the 2002 indexation percentages, revised deductibles, and monetary amounts related to automobile insurance as per the Insurance Act and the Statutory Accident Benefits Schedule,
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How to fill out 2002 indexation percentage revised
How to fill out 2002 Indexation Percentage, Revised Deductibles and Monetary Amounts for Automobile Insurance
01
Obtain the relevant insurance policy documents for the year 2002.
02
Locate the section pertaining to Indexation Percentage and Revised Deductibles.
03
Determine the base amount for the indexation, which may include premium costs or other specified amounts.
04
Calculate the Indexation Percentage by applying the specified formula or guideline provided in the insurance documentation.
05
Update the Revised Deductibles by applying any adjustments indicated for 2002, taking into account any changes in policy limits.
06
Fill out the monetary amounts section with the newly calculated values, ensuring all figures are accurate and correspond to the necessary fields.
07
Review all entries for completeness and accuracy before submission.
Who needs 2002 Indexation Percentage, Revised Deductibles and Monetary Amounts for Automobile Insurance?
01
Individuals holding an automobile insurance policy that includes indexation provisions for the year 2002.
02
Insurance professionals or agents advising clients on policy adjustments and renewals.
03
Claims adjusters evaluating claims subjected to indexation changes.
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What is the deductible for car insurance in Ontario?
Choose a reasonable deductible based on the coverage and your financial situation. On average, it will cost between $500-$1,000. Most drivers have a $500 deductible. Ontario's standard deductible companies offer is $500 for collision and $300 for comprehensive.
What is the deductible for personal injury in Ontario 2025?
As of January 1, 2025, the general damages threshold increases to $155,965.54. General damages below this threshold will be subject to a deductible of $46,790.05. Family Law Act (FLA) damages threshold increases to $77,982.13. FLA damages below the threshold are subject to a deductible of $23,395.04.
What is the vanishing deductible for 2025?
The monetary thresholds beyond which the statutory deductibles for non-pecuniary general damages do not apply (“vanishing deductible”) have also increased for 2025. For personal injury claims, the monetary threshold for 2025 is $155,965.54, an increase from $153,509.39 in 2024.
What is Section 236 of the Insurance Act of Ontario?
Additionally, for non-fleet policies (i.e., policies insuring less than five vehicles which are under common ownership or management), section 236 of the OIA provides that an insurer must give notice to its insured of its intention not to renew a policy or to renew it on varied terms.
What is the deductible for auto insurance in Ontario?
Choose a reasonable deductible based on the coverage and your financial situation. On average, it will cost between $500-$1,000. Most drivers have a $500 deductible. Ontario's standard deductible companies offer is $500 for collision and $300 for comprehensive.
What is Section 258 of the Ontario Insurance Act?
Section 258 of the Ontario Insurance Act enables injured parties to recover damages in an action, and not be deprived of a remedy based solely on the conduct of the defendant insured.
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What is 2002 Indexation Percentage, Revised Deductibles and Monetary Amounts for Automobile Insurance?
The 2002 Indexation Percentage refers to the adjustment rate applied to certain monetary amounts and deductibles in automobile insurance, ensuring they reflect inflation and current economic conditions.
Who is required to file 2002 Indexation Percentage, Revised Deductibles and Monetary Amounts for Automobile Insurance?
Insurance companies and organizations providing automobile insurance are required to file the 2002 Indexation Percentage, Revised Deductibles, and Monetary Amounts to comply with regulatory standards.
How to fill out 2002 Indexation Percentage, Revised Deductibles and Monetary Amounts for Automobile Insurance?
To fill out the form, an insured party or insurer needs to input the updated indexation percentage, revised deductible amounts, and any relevant monetary amounts, ensuring all fields are completed accurately as per the guidelines.
What is the purpose of 2002 Indexation Percentage, Revised Deductibles and Monetary Amounts for Automobile Insurance?
The purpose is to keep insurance deductibles and monetary amounts aligned with current economic realities, thereby protecting consumers and ensuring fair insurance pricing.
What information must be reported on 2002 Indexation Percentage, Revised Deductibles and Monetary Amounts for Automobile Insurance?
The report must include the calculated indexation percentage, the revised deductible amounts, and any updated monetary amounts related to coverage options in automobile insurance.
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