What is a "standard automobile policy" in Ontario?

A "standard automobile policy" in Ontario refers to a basic insurance policy that incorporates specific mandatory coverages established by law. This type of policy is designed to meet the legal requirements for automobile insurance within the province, ensuring that all drivers meet minimum coverage standards. These mandatory coverages typically include liability coverage for bodily injury and property damage, accident benefits, and uninsured motorist coverage, all of which are crucial for protecting both the policyholder and other road users in the event of an accident.

By focusing on these essential coverages, the standard policy provides a fundamental layer of protection for drivers, keeping in line with regulations intended to promote safe driving practices and financial accountability. This framework helps ensure that all drivers on the road are adequately insured, which benefits the entire community by fostering responsible driving behavior and reducing the financial burdens arising from accidents.