someone looking online for auto insuranceIn the last post of our short series about optional Automobile Accident Benefits we would like to draw your attention to optional income replacement benefits.  Many people don’t think about the financial cost of a car accident.  What do you do if it will be a number of months before you can return to work?  The financial stress can be significant.  The standard  coverage for income replacement benefits is 70% of your gross income up to $400.00 per week if you are unable to work due to an automobile accident.  If this amount will not meet your current needs and you do not have access to any or sufficient private disability insurance you have the option of increasing the weekly maximum limit to $600.00, $800.00, or $1000.00 per week.  Keep in mind that the optional benefits still only replace 70% of your gross income so take your current income into consideration when purchasing optional benefits.

To give you an idea of what it might cost to purchase optional income replacement benefits each Physio In Motion staff member in our office called their own insurance company for a current quote.  On average we found the cost ranges from $58.00 per year to $65.00 per year.  Your insurance agent or broker should be able to advise you whether or not purchasing optional income replacement benefits or a stand alone disability insurance policy is best for you.