What is the "statutory accident benefits schedule"?

The "statutory accident benefits schedule" refers to a set of benefits that are mandated by law for individuals who are injured in automobile accidents in Ontario. This legal framework ensures that certain standard benefits are available to all eligible injured parties, regardless of who is at fault for the accident.

These benefits typically include coverage for medical expenses, rehabilitation costs, income replacement benefits, and other related expenses that can arise from an accident. The goal of this schedule is to provide a baseline level of financial protection and support to those affected by automobile accidents, promoting recovery and stability during a difficult time.

In contrast, the other options pertain to different aspects of automobile insurance. Guidelines for optional coverages provide additional choices for policyholders but are not legally mandated. Premium rates concerns how much individuals might pay for their insurance policies, while a list of approved automobile policies relates to regulatory compliance for insurance companies but does not specifically address the benefits available to injured parties.