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In this wall, we will be discussing the various information and media surrounding Canadian automotive insurance, as well as some of the tips and tricks you can use to find a cheaper rate.

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Summary:

In this Video Posted by Igor Ryltsev, He brings up a series of great points on what car insurance in canada is based off of as well as how to get cheaper rates. The points he makes include:

Giving specific documents to insurance companies to prove a clean driving record.

Shopping around for different rates, and asking if one insurance company will beat another rate.

Specifying the different types of insurance and what they mean.

The various factors that influence what an insurance company may quote you, for example; age, gender, years of driving experience, type of vehicle being driven, and the purpose of that vehicle.

The Importance of This Video:

I believe Igor does a great job going over the basics of navigating car insurance in canada, especially for those who are buying a car for the first time or who are newcomers to the country. He shares important information that is relevant to anybody, countrywide, in a manner that can help them to find a cheaper rate.

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Car Insurance in Canada | This Will Save You $$$

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Summary:

This story, covered by CP24, shows an unfortunate situation resulting from having a cheaper type of insurance and being involved in a hit and run accident. More specifically, it gets into the different types of insurance including Liability, Collision, and comprehensive, as well as what they mean for you if an accident is to occur. In this story, a woman is involved in a hit and run where her car was struck from behind, and then pushed into the vehicle infront. This resulted in both front and rear end damage, and worst of all, an $8000 repair bill that would not be covered. This is because she only had liability insurance, which is limited to only covering the other vehicle involved in an accident where you are at fault. It is the minimum level of insurance required in canada. It also talks about how the result could have been different had she had collision or comprehensive insurance.

The Importance of This Video:

I believe this video is an excellent, although unfortunate "cautionary tale" as the CP24 reporter states. It shows a near worst case scenario of the result of being involved in an accident with the improper insurance to cover it. Depending on a persons situation, its very easy to think that all you need is the cheapest insurance, however in reality, and depending on the value of your car, it may be a mistake that costs you alot more then the increased rates of a better insurance plan.

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Understanding auto insurance and liabilities

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Summary:

This video I believe is an exceptionally good way of understanding the 'no-fault' insurance system and why it was put in place where it is. Although I personally think this is a backwards system, it does help most of the population I would like to believe or else it would not be a thing. In addition, this system is exactly how it sounds, neither party of which an accident is caused will be primarily blamed.

Why This Video is Significant:

This then makes the no-fault system prone to insurance fraud and individuals being upset they are not receiving compensation they feel is fair, or even extended wait times for insurance claims to the point that people start experiencing delays and disputes for compensation they are entitled to. The limitations on suing for damages in a no-fault system can reduce the number of lawsuits related to car accidents. While this is intended to streamline the process, it can also heavily limit the ability of an individual trying to seek compensation for certain damages.

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How 'no-fault' insurance affects drivers

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Summary:

I felt inclined to include this video on our wall as it shows some of the cheapest vehicles to insure, which are surprising considering some factors that could be easily overlooked. Being that some of the vehicles in the video are some of the newer models of some brands, and just bigger vehicles such as the truck and SUV's you would wonder how these cars fall under the category of the cheapest vehicles to insure in Canada.

Why This Video is Significant:

That is because of some of the external factors such as age, driving history, and driving time. Though generally any vehicle with advanced technology integrated into the safety features or much lower theft rates overall would lead to a lower premium for whatever make and model it happens to be, a good example shown in the video would be the 2011 Ford F-150 XLT Super Crew 4x4 somehow coming in at 2nd (35.78%) on the list for cheapest insurance, despite it being a truck and a 2 door truck at that.

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These are the 5 cheapest cars to insure in Canada | Driving.ca

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Summary:

This website goes into greater detail about a specific question that most people have about insurance. "Why do rates differ so much across companies". This website covers 5 factors and reasons why different companies may offer different rates, as well as information that can help you to find the best rate available for your situation.

Why I Chose this Website:

When I was initially looking for car insurance, one of the first things I realized was that different companies vary greatly in what they can offer. This lead to alot of confusion that I never really understood. Because of this, I feel that it is very important for more people to gain an understanding of the behind the scenes of insurance pricing, and I believe this website covers a few of the important details that are involved in the price fluctuations.

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Behind the scenes in the insurance world, there are more factors than you realize affecting the price of your policy. When trying to make an insurance price comparison, you may wonder why insurance is so expensive.

Prices can be vastly different from one company to another, and it helps to have some tips on finding the best rate. After all, why is insurance so expensive when the person who seems to have all the same qualities as you pays much less for the same type of car or home?

It might make you wonder if all things are the same, what makes one insurance company more expensive? Here are five things that make one insurance company more expensive than another.

The Cost of Discounts and Mistakes

You would think all the possible discounts are taken care of and properly applied when you sign up for an insurance policy. But each insurance company is different. There is no way for you to know what discounts you may be able to get unless you ask.

For instance, an insurance company may give a discount for installing a water backup valve-a good tool that helps prevent claims from sewer water backup.

When switching from one insurance company to another, you may miss getting your additional discount for this water damage prevention if you don't mention this specifically.

Not updating your information every year with your insurance representative may also cost you money. New situations can come up, and underwriting may change each year when actuaries review the insurance premiums and losses.

Whenever you get a quote from an insurance company, be sure to review the application information used to get the quote. The difference between the quoted insurance companies' prices could be how the representative completed the application form.

Insurance With Credit Scoring

Some insurance companies may offer you the chance to use your credit score to help lower the price of insurance. Companies are using insurance credit scoring more often because statistics have shown that people with good credit scores have fewer claims. When people have fewer claims, they can pay less money for their insurance.

If you have a good credit score and good insurance history, getting a quote from a company that uses insurance credit scoring could make your insurance much less expensive.

Compare Coverage Options and Perks

Insurance companies usually have several levels of coverage to offer their clients. Asking key questions about your options may explain why one policy might be more expensive than another.

For instance, opting to have a higher deductible can lower the premium you pay for insurance. Other considerations that can affect why insurance is so expensive include whether they use actual cash value or replacement cost for claims settlement if exclusions or special limits exist, and what risks are covered.

Some insurance companies offer various perks or advantages. Their price may be higher, but the benefits you get from them may be worth it.

Some insurance companies may include perks like:

Roadside assistance

Identity theft protection

Coverage for Pets

Legal Assistance

Make sure you understand the coverages you are getting with your policy to decide if the perks are worth the extra cost.

Combining Insurance Policies to Cut Costs

Everyone has heard that putting your home and car insurance together with one company can save you money.

When an insurance company insures multiple policies for you, or even for several of your family members, there is a greater chance that the price of your insurance may be negotiated.

If you have a relationship with your agent or insurance broker, they can lower your price based on how long you've been with the insurance company, the number of policies you have, and if you've referred other customers to them.

When you combine car and home insurance policies with one company, you can look at the total price you are paying. Sometimes one policy might be more expensive with one insurance company, but the combined price might end up being less overall if you combine them.

Claim Experiences and Rate Increases

The insurance premium you pay is determined by the company's underwriting and premium calculations. Your cost may go up if the rates have not been enough to cover their claims adequately.

When there is a general increase among all insurance companies, the rates may increase by the same amount no matter which company you use. If one insurance company finds that they weren't charging enough premium, they may have to increase prices more than the rest.

Some insurance companies will give discounts for​ a new policy to attract new clients. While your initial cost might be very low, your price might change after the new policy discounts disappear. You might be better off letting your current insurance company know that you want a better price, and they just might lower it.

How to Get the Best Insurance Price Comparison

Finding the lowest price on your insurance can be tricky. If you are insured with an agent who only represents one insurance company, they may not have access to other insurance products to offer you. In this situation, shopping around may be the only way to determine if you are paying a fair price on your insurance.

However, if you deal with a broker or agent who represents several insurance companies, they can shop around on your behalf to negotiate a lower price. Since insurance is so expensive, comparing prices among several companies is worth the effort. Check your rates with the five tips above before you pay too much for your insurance.

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Why Does One Insurance Company Cost so Much More Than Another

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How to save on your insurance costs: Why is insurance so expensive? 5 things that make the price of your insurance cost so much.

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I chose this picture because it can help you narrow down where you should avoid settling down in the near future, furthermore, it shows that it is beneficial to try your absolute hardest to avoid the bigger cities and very dense areas. Regions and communities with high population and activity usually have higher insurance rates.

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I believe that this photo from Hagerty's website was a must have on this wall. This is because Hagerty is a very unique insurance company that specializes in classic cars. I personally use them to insure my 1985 Jeep CJ, and I am very thankful that companies like this exist because without a special insurer for special cars, it would be very difficult to keep classics on the road. Most modern every day insurance companies refuse to insure anything over 25 years old, which is where Hagerty comes in. They are also able to offer tremendously cheap rates because of how few classic cars are driven.

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Summary:

This is the official Goverment of Canada website for everything you need to know about car insurance. It covers how car insurance works, why you need it, the different types of coverage and policies, premiums, settlement options, and everything else you may need to know.

Why I Chose This Website:

I feel that including this website is an absolute must for this wall. This is because if there is one place you know you can go to find the most trusted information on automotive insurance, this is it. The Goverment of Canada may not help you to find a cheaper rate, but it will assist you in knowing all the legalities and complexities surrounding car insurance, and anything else you feel you might need to know.

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Understanding car insurance

Car insurance is a protection you must purchase if you own a car or other vehicle. It protects you in case of an accident. Car insurance may protect you from:

having to pay to repair your car or other vehicle after an accident

liability claims if you're responsible for an accident causing damage

Insurance companies may refer to car insurance as property and casualty insurance. Property and casualty insurance also includes home insurance, business insurance and disaster insurance.

If someone who isn't on your policy has an accident with your car, your own premiums may increase.

Who your car insurance policy covers

If you get into a car accident, your insurance may cover:

the driver

all passengers

other people involved in the accident

In some provinces, injured passengers or other people involved in the accident must make a claim with their own insurance first.

If you have additional drivers, you must list their names in your insurance policy. Additional drivers include other drivers in your household who may use your car. For example, to drive to school or work. If they have a poor driving record, your premiums may increase.

Car insurance policy coverage

Coverage is the maximum amount of money your insurance company will pay you if you make a claim. Ask your insurance company what coverage your policy provides.

Liability insurance

Liability insurance covers losses, such as injury or death that your vehicle causes to other people. It also covers damage your vehicle causes to other vehicles. You may need to pay the balance of the settlement yourself. For example, if the cost of the loss or damage is higher than your liability limit.

Liability insurance doesn't cover the cost of repairs to your own vehicle. You may need to consider additional insurance to cover these costs.

Accident benefits

Accident benefits cover the cost of your own medical expenses and loss of income following a car accident.

Quebec residents are covered for injury or death by Quebec's public automobile insurance plan. Premiums are part of your driver's licence registration.

Additional insurance coverage

Your car insurance policy may also provide you with additional benefits.

Collision insurance

Collision insurance covers the cost of repairing or replacing your car if you hit another car or object. Insurance companies may include it in your mandatory insurance coverage.

Comprehensive insurance

Comprehensive insurance covers the cost of repairing or replacing your car due to other types of damage or loss. This may include:

Comprehensive insurance doesn't cover certain loss or damage to your car. For example, if you hit another car or object in a collision.

Optional insurance coverage

Depending on your driving record, you may not be eligible for all types of optional insurance.

Optional insurance pays for risks not covered in your basic policy. Insurance companies call this a rider or an endorsement.

You may also want to consider additional insurance coverage for:

renting a car or using alternate transportation while your car is at the garage

repair of physical damage to a rental car

emergency road-side assistance

collision forgiveness which keeps your premium from increasing following your first accident for which you're at fault

depreciation to make sure you receive the full value that you paid for your car

What your car insurance policy doesn't cover

Most car insurance policies don't cover the loss of personal items. For example, when a thief steals golf clubs, clothing or personal electronics from your car. Your home or tenant's insurance usually covers these losses.

Check your home insurance policy to find out if it provides coverage for the theft of personal items from your vehicle.
Learn more about home insurance.
Car insurance premiums

Premiums are the amount you pay to buy insurance.

When determining how much you'll pay for premiums, insurance companies may consider factors like:

your age

your gender

where you live

your marital status (for young drivers)

what car you drive

how much you use your car

your driving record

your claim history

the type of coverage you choose

the amount of your deductible

A deductible is the amount of your claim you agree to pay before your insurance company pays the rest.

Shop around for the lowest insurance premiums

Your premiums will vary from one insurance company to another. Shop around, ask for quotes, and compare prices before deciding on one insurance company. In some cases, you may be eligible for a discount by combining your home and car insurance.

When shopping for a car, check the insurance rating for the car you're thinking of buying. Insurance companies assign ratings based on the claims made on different makes and models. Cars with better ratings are cheaper to insure.
Learn more about car insurance ratings.
In certain provinces and territories, insurance companies may charge higher premiums based on your credit score.
Learn more about how insurance works.
What to do if your car insurance premiums increase

In certain cases, your car insurance premiums may increase. If it does, re-evaluate your needs. Review your insurance needs with your insurance company. Consider asking about the following options to lower your car insurance premiums:

raising your deductible

dropping collision coverage if your car has a low resale value

a package deal for insuring your home and car, or more than one car

Shop around and get quotes to compare prices from different companies and brokers. Make sure you're getting the best deal.

Car insurance settlement options

Your insurance company will review your claim and decide how it will settle it.

When you make a claim, you're always responsible for paying the deductible. How much money you get from your claim depends on your insurance benefits.

Repair or replacement

Your insurance company will pay for repairs to the same condition your car was in before the damage.

Betterment

You're responsible for the cost of any additional improvements to your car.

Write-off

Your insurance company may decide to treat your car as a write-off instead of repairing it. For example, if the cost to fix your car is more than its value before the accident. In that case, your insurance company will provide you with a cash settlement. They base the settlement on the value of your car before the accident.

Settling a claim if you have a car loan

If you have a car loan, your car insurance policy will usually include a loss payee clause. A loss payee clause makes your lender your beneficiary. In case of loss or damage to your car, your insurance company will pay your lender (your beneficiary). They'll pay up to the balance of your car loan when you make a claim.

When you make a claim, your insurance company may, at its discretion, give the money to either:

you, so you can fix your car when you submit a claim

your lender, who would then give you the money for repairs after you submit receipts as proof

Related links

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car insurance; car insurance policy coverage; liability insurance; accident benefits; collision insurance; optional insurance; premiums; premiums increase; additional insurance; collision assurance; comprehensive insurance; optional coverage; premiums; settlement options; car loan;

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Information on several aspects of car insurance, policies, coverage, premiums, settlement options and settling claims when you have a car loan.

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1. What did you learn about your topic that surprised you the most?

Overall, car insurance in Canada comes off as being fairly complicated to someone with little experience, there are so many options, and various definitions that lack clarity until you find the right explanations. The part that surprised us the most was just how much there is to know about insurance, compared to other countries. The diversity of Canada definitely plays a large role in everybody's day to day life, and insurance is just one of the ways.

2. Provide a real-life example of how this topic is relevant or interesting for you.

As people who both take interest in owning multiple cars, as well as buying and selling cars regularly, it's very important to know about the intricacies of insurance. Its very easy to make poor or uneducated decisions that can lead to a loss of income, so being fully educated in the matter can do significantly more than just make the process of insurance easier.

3. If you could pass on your knowledge to a family member or friend, what do you think is the most important thing to pass on?

Overall, the best piece of advice we could possibly give is to shop around for insurance, don't just go with the first company, because due to the complexities of our Canadian system, it's very easy to find various different rates, and there will always be a company that can do it for less.

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Summary:

This website serves as a great guide for anyone struggling with understanding car insurance and expands more on the most common add-ons for insurance coverage. You can also find the average cost of auto insurance based on the province you are residing in, and more importantly what is covered with these different policies and add-ons. There are many factors that go into your car's insurance rate, with the most significant being your age, time driving, location, and the vehicle.

Why I Chose This Website:

I chose this website because it encapsulates everything that is included in auto insurance, as well as breaking down all the necessary steps to covering yourself with whatever insurance needed at the cheapest possible cost. The website also covers whether you require insurance when using a rental car, or if your insurance just was carried over in the event of using a rental vehicle and goes over whether insurance companies cover for vehicle theft, which most times standard car insurance will not cover for this.

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By Justin Dallaire on September 13, 2023
Estimated reading time: 11 minutes

Wondering how to get the best car insurance in Canada? It's tricky, as auto insurance rules vary from province to province, so that some auto coverages are mandatory and others optional. Add on the many factors influencing the premiums drivers pay, and there is no single best policy for Canadians. That said, you can find the best policy for you. Whether it's you or a family member getting behind the wheel, this guide will walk you through the most commonly asked questions about car insurance, from what it covers to how to get a competitive rate.

What is car insurance?

First, let's define what it is. Car insurance is a contract between a driver and an auto insurance provider. As with other types of insurance, such as home insurance and life insurance, an auto insurance policyholder agrees to pay a set amount (called a premium) in exchange for the ability to be compensated by the insurer for certain damages or losses covered in their policy. The insurance provider then will cover approved claims that would otherwise be difficult for you to pay for, such as a crash resulting in $1 million in damages to another driver and their vehicle. Some companies allow you to pay your insurance premiums in full for the year, which can save you money compared to paying on a monthly basis.

Many insurance policies include a deductible, which is the portion of a claim paid for by the policyholder. Agreeing to pay a higher deductible can mean having to pay lower premiums on your car insurance policy.

Is car insurance mandatory in Canada?

In Canada, auto insurance is legally required for all drivers, regardless of age or experience. People who drive without a valid car insurance can face hefty fines. They also risk losing their savings or other assets if they are involved in (let alone at fault for) an accident and are forced to pay for the damages out of pocket.

By law, every province and territory requires drivers to carry some form of auto insurance. But the types and minimum amounts of mandatory coverage (and the general cost of auto insurance) vary, depending on where you live.

What does car insurance cover?

A car insurance policy can offer coverage for many different types of claims. These include instances in which you have caused damage to another person's property or injured yourself, other drivers, passengers or pedestrians.

In Canada, some auto insurance coverages are mandatory, while others are optional. Since auto insurance is regulated by the provinces and territories, you should always confirm what is legally required in your area. But, with few exceptions, all auto insurance policies must contain the following coverages:

Accident benefits: Includes coverage for injuries sustained in a collision. This includes medical care, rehabilitation and income replacement (if you or the other person is unable to work) for drivers, passengers and pedestrians involved in the collision. Accident benefits also cover funeral expenses and survivor benefits, if someone is killed in the accident. This type of coverage is mandatory in all provinces, except Newfoundland and Labrador.

Third-party liability: Provides compensation for drivers if they're at fault in an accident and the other party is hurt or killed. It also covers damages to the other person's property and related repair costs.

Uninsured auto insurance: ​​Offers coverage for injuries and damages sustained through the fault of a driver who is uninsured or unable to be identified (in the case of hit-and-runs). Uninsured motorist coverage allows you to receive money that would have otherwise legally been recovered from the other driver's insurance policy.

Direct compensation property damage (DCPD): In provinces with a no-fault insurance system (i.e. Alberta, New Brunswick, Newfoundland and Labrador, Ontario, Prince Edward Island and Quebec), DCPD means drivers deal with their own insurer to repair their vehicle and other damaged property, as opposed to seeking compensation from the other driver's insurance company (when the other person is at fault). If you're not at fault for an accident in a province without DCPD, you will have to seek property damage compensation from the other party's insurance company.

Common coverage add-ons

The mandatory components of your auto insurance policy work together to offer financial protection against some of the most common and the most expensive claims.

However, these don't cover damages to your own vehicle. For that, you will need to purchase optional coverages. The following two types of coverage are recommended as endorsements. In Saskatchewan and Manitoba, they are both mandatory.

Collision insurance: Covers the costs related to the repair or replacement of your vehicle if you are at fault for a collision with another car or an object, such as a tree or pothole. Many drivers opt in for collision due to the variable Canadian weather, road conditions, traffic and other causes of unexpected accidents.

Comprehensive coverage: Covers repairs to or replacement of a vehicle that has been damaged by something other than a collision. This can include a fire, theft, vandalism or a wind or hail storm-basically, factors that are often considered outside of your control.

Does car insurance cover theft?

Standard car insurance policies do not include coverage against theft. However, if your car is stolen, you may be insured if you have a comprehensive policy (see above), or if theft is listed as a specified peril in your policy. Specified perils coverage includes protection for the specific hazards listed in your policy, which can include theft, as well as hail, fire and windstorm damage. Opting for this additional coverage will cost you more. Note that specified perils is different from all-perils insurance, which includes both collision and comprehensive coverage.

Does my insurance cover rental cars?

Many auto insurance companies provide optional coverage for damage to "non-owned" vehicles. This coverage typically costs between $30 to $35 annually, according to the Canadian Automobile Association (CAA), and can be added to your existing policy. It only covers damage to rental cars in Canada and the United States, not all international destinations.

If your auto policy does not come with this coverage, you can opt for a collision damage waiver from the car rental company. The waiver shifts the responsibility for any damage or loss to the rental company (with some exceptions) and comes at an additional daily cost of around $25 to $27, according to the CAA.

Before purchasing additional coverage, check if your credit card offers collision coverage for rental cars. Some credit cards come with this added protection, subject to some limitations and conditions.

How much car insurance do you need?

What are the best car insurance coverage amounts? The answer to this question will vary from one person to the next, as it ultimately depends on your ability or willingness to cover damages out of pocket, should you get into an accident.

For example, uninsured auto insurance typically provides up to $200,000 in property damage and injury coverage. However, in some provinces, you can increase this amount. However, since a single accident can easily exceed the minimum coverage, many drivers choose to pay for $1 million to $5 million in coverage. Car insurance coverage amounts aren't entirely up to you, though. Depending on where you live, you will have to have a minimum amount of coverage.

For example, in most Canadian provinces, you are required to have $200,000 in third-party liability coverage. (In Quebec, the minimum is $50,000, and in Nova Scotia, it is $500,000). Remember: As the driver, you are responsible for paying for any damages that go beyond what is included in your policy.

Receiving more coverage means you will have to pay more in premiums.

How much does car insurance cost in Canada?

The amount you will pay in auto insurance premiums is based on a host of factors. Here's a sample of some of the most important ones:

The driver's profile: New drivers-especially those under the age of 25-tend to pay higher premiums, because the data suggests they are at a great risk of getting into accidents. Similarly, male drivers are statistically more likely to get into an accident causing death, which is factored into premiums.

The vehicle: Insurance companies consider how expensive your car would be to fix if you get into an accident, as well as how likely it is to be stolen. They use a system called the Canadian Loss Experience Automobile Rating (CLEAR), which rates different aspects of a vehicle model, helping them understand just how risky your vehicle is to insure.

Where you live: Premiums vary widely by province, the difference being that some provinces offer public, government-run insurance programs, and others operate on a private (or a hybrid public-private) model. Even within a single province, costs can be higher if you live in a densely populated area, as opposed to a rural region where there are fewer accidents.

Driving history: Insurance will be more expensive if you have a history of traffic tickets or car accidents.

While an insurance broker can give you more accurate numbers for you and your particular driving situation, the General Insurance Statistical Agency has looked at the average premiums across 10 provinces. On average, Canadian drivers spend $1,142 per year on car insurance. Drivers pay the most in British Columbia (where the average cost is $1,832​ per year) and the least in Quebec ($717 per year). Here's what you may expect to pay, based on the province you live in:

The cost of insuring an electric vehicle

Electric vehicles (EVs) have become more popular in recent years. Still, few EV models have been rated using the industry's CLEAR system, which means there isn't enough data available to know whether EVs are more or less expensive to insure, as a rule. However, industry experts say your vehicle's power source is less important than the costs of repairs, and EVs remain fairly expensive compared to gas-powered vehicles. That can lead to paying higher premiums for EVs.

Auto insurance for high-risk drivers

Private insurers may be reluctant to offer insurance to high-risk drivers, such as those that have been convicted of impaired driving. However, since auto insurance is mandatory in Canada, all licenced drivers are guaranteed coverage no matter where they live.

It may not be easy to find affordable car insurance after a DUI, but you will find coverage. Quebec, Manitoba, Saskatchewan and British Columbia have government-run insurance plans that include options for high-risk drivers. In other provinces with private insurers, high-risk drivers can work with the Facility Association, a non-profit organization that ensures the availability of car insurance to all eligible drivers, to obtain coverage.

How to find the best car insurance in Canada

Given the complexity of auto insurance and the number of variables that determine what you will pay in premiums-including where you live, the amount of coverage you need and your driving record-there isn't a straightforward answer to the question, "Which company has the best car insurance in Canada?"

However, there are a few steps any driver can take to feel confident that they're getting the right amount of coverage at a competitive rate.

First, start by understanding the different components of an auto insurance policy. This guide should hopefully be a useful starting point. You may also want to consult the Insurance Bureau of Canada (IBC) for general information on the car insurance rules specific to your province.

Then, shop around for the best car insurance rates. You can start by getting a quote from your bank, an insurance broker or where you get your home or life insurance; however, you should also compare rates online before you buy auto insurance.

Compare the various products and premiums available until you feel confident about your choice. One way to do this is to use an online aggregator site, which pulls rates from various providers-similar to working with an insurance broker. (Note: MoneySense.ca is owned by Ratehub Inc., which also owns the aggregator site Ratehub.ca.)

How to compare auto insurance quotes

In order to obtain a car insurance quote, you'll be asked to provide information about a few things, including the vehicle requiring coverage, the drivers you want to insure and the amount of insurance coverage you want. You'll have to share valid driver's license information and the details of your existing insurance provider and policy (if you have one). You may also be asked to provide information about previous traffic violations and insurance claims, if you have any.

The insurance provider will then give you a quote for the policy. You may be tempted to run with the company offering you the cheapest auto insurance quote, but you should always carefully compare multiple rates and policy details before making a final decision.

To make a fair assessment, you'll want to look at:

The details on your policy. Make sure your personal details, coverage needs and driving record are all accurately reflected in the agreement.

The coverages and deductibles included in the policy. The lowest rate you've seen may also offer the least amount of coverage and the largest deductible.

Your payment and bundling options. Do you have a home insurance policy that can be bundled with auto? Do you have the option of paying your premiums annually instead of monthly? Both of these can save you money.

Ready, set, drive

No matter how you look at it, auto insurance is a significant expense. And given that it's a legal requirement, it's an unavoidable cost of owning and driving a car in Canada. Still, the price of car insurance pales in comparison to what a driver faces without it: significant fines, or getting into an accident without being able to pay for the associated medical bills or repairs. To get the most value out of car insurance, understand the coverages you need-and those you don't, or need less of-and always do your research before buying an auto insurance policy.

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Your complete guide to getting the best car insurance in Canada - MoneySense

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What is car insurance, how much does it cost, and how can you find the best coverage for your needs? We answer these questions, and more.

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Mandatory auto coverages where you live.

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Summary:

On this website you can find the mandatory auto insurance requirements for all the provinces and territories at ease, and this is beneficial for understanding every unique or odd mandatory requirements that some places require in order to drive amongst Canada. This then helps you stay liable for anything that happens in any province or territory and keeps you as a responsible citizen of the country.

Why I Chose This Website:

I believe that this website is a powerful addition to our wall because it clearly highlights the goal of what it is trying to educate us on, and furthermore makes it quite easy to navigate to each and every place in Canada to understand very clearly what is needed to drive wherever you desire. The website also has other immensely helpful resources regarding the topic of auto insurance and resources for anyone struggling with distracted driving or the unexpected event of a collision.

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Auto coverage provides protection for personal injury and property damage. Across Canada, the minimum coverage you are required by law to purchase is also referred to as mandatory coverage. Where and how you can purchase auto insurance coverage is set out by provinces and territories. For example:

In Alberta, Ontario, Nova Scotia, New Brunswick, Newfoundland, Northwest Territories, Nunavut, Prince Edward Island and Yukon you can buy from a private insurer.

In British Columbia, Manitoba and Saskatchewan, you must buy mandatory minimum coverage from the government insurer, and can purchase optional coverages from private insurers.

In Québec, you must buy bodily injury coverage from the government insurer and property damage coverage from a private insurer.

The following general information is provided for educational purposes only and is subject to change. It's important to refer to provincial and territorial government and regulator resources for specifics about current mandatory auto insurance requirements.

Some helpful government sources are listed below for your reference.
We recommend you consult with a local qualified insurance representative for up-to-date information.

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Know the level and type of coverage required in your province.