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Car insurance in Canada generally covers third-party liability, property damage and bodily injury. Policies can also include coverage against theft, vandalism, accidents with uninsured drivers, and damage caused by natural disasters.
Yes, car insurance is mandatory in Canada. Each province and territory imposes minimum insurance coverage requirements, generally focusing on third-party liability for bodily injury and property damage.
To reduce the cost of your auto insurance, you can store around and compare quotes, increase your deductible, maintain a good driving record, install safety devices in your vehicle, and take advantage of discounts for safe drivers or multiple policies (auto and home, for example).
The deductible is the amount you have to pay out of pocket before your insurance begins to cover costs in the event of a claim. For example, if you have a $500 deductible and $2,000 in damages, you pay the first $500 and your insurance covers the rest ($1,500).
In the event of an accident, first ensure the safety of all occupants and call the emergency services if necessary. Gather information from the other driver and witnesses, and take photos of the damage. Report the accident to the police if necessary. Then contact your insurance company as soon as possible to report the incident and follow their instructions to complete the claims process.
You can obtain car insurance online, over the phone or directly from your insurance broker. Take the time to compare different car insurance contracts before you decide, to get the best price.
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