What is DCPD Insurance (Direct Compensation Property Damage)? If you’re in an accident where another driver is at fault or partially at fault, DCPD means your own insurance carrier will pay for your vehicle’s repairs. Previously, in this situation, the other driver’s insurer would cover physical damage.
What is direct compensation deductible?
The operation of a direct compensation property damage deductible. If your car is damaged as a result of a collision that wasn’t your fault, your insurance provider will cover the cost of repairs under the DCPD section of your policy.
What is direct compensation auto insurance Ontario?
Direct compensation property damage (DCPD) is a type of car insurance that is required by law. All basic auto policies include it, as well as third-party liability and accident coverage. In Ontario, your insurer will compensate you directly for all non-fault accidents.
What are the 3 types of car insurance in Ontario?
Liability coverage, direct compensation, uninsured automobile coverage, and accident benefit coverage are the forms of motor insurance required by law in Ontario. It’s the very minimum you need to keep yourself and your loved ones safe.
Salary and wage
Workers receive direct pay in the form of annual salary or hourly earnings in exchange for their services to the corporate account. It refers to the monetary compensation for work completed over a set period of time, such as an hour, a week, a month, or a year. Financial compensation payments, contractual payments, pay for unplanned time and overtime, and any retroactive pay are all included.
Car allowance
Employees may be provided with a car and/or a fuel allowance by their employers. They may also pay for the employee’s parking, public transit, or cab costs.
Housing allowance
Companies may pay housing allowances to employees who are forced to relocate due to their jobs. Some companies even provide housing to help with the moving process.
Medical reimbursement
Companies may provide medical payments to employees for medical claims that affect not just the employees but also their family members. Medical costs and health insurance reimbursement are among the claims.
Leave travel allowance
Some companies give their staff vacation time and a stipend for recreational travel. These benefits are tiered according to the employee’s job and length of service.
Special/Other allowance
Some exceptional allowances are also covered by direct compensation. Meals, commissions, cell phone expenses, travel expenditures, club memberships, insurance, low-interest loans, and other expenses are among them.
Incentives tied to great performance and periodic incentives for special events are two further direct compensation alternatives. Please see the SHRM for more information on incentive pay (Society for Human Resource Management).
Which is not a direct compensation?
The compensation that an employee receives directly from his or her employer is known as direct compensation. This covers both the base wage and any bonuses.
Wages, salaries, commissions, and bonuses are all examples of direct remuneration that an employer provides on a regular basis. Benefits, retirement plans, leaves, employee services, and education are all examples of indirect compensation. Employers should distinguish between direct and indirect compensation in their benefits packages and recognize the importance of indirect compensation in attracting and maintaining employees, especially if direct remuneration is adequate.
What is Collision or Upset Coverage, and how does it work? Collision or upset coverage is a component of an insurance policy that pays for losses incurred when a vehicle collides with another object or rolls over.
When you lease or finance a vehicle, collision coverage is usually necessary (i.e. vehicle is not fully your property). If you don’t have this coverage, you won’t be reimbursed for damages if you’re at fault in an accident.
What is a comp claim?
An employee who has been hurt, disabled, or is ill as a result of their employment has the right to file a compensation claim (related to workplace injury and illness). Local regulations demand and govern the payment of such claims. Employees are entitled to compensation for the pain and suffering they have experienced as a result of their employment. The majority of the time, the compensation is in the form of cash and/or medical care.
Do all drivers in a household have to be insured Ontario?
All drivers in Ontario are required by law to have auto insurance. Fines for not having valid auto insurance can range from $5,000 to $50,000 for vehicle owners, lessees, and drivers. Your driver’s license may be suspended and your vehicle confiscated if you are caught driving without valid auto insurance.