What type of car insurance should I take out?

At the very least, you need liability insurance to drive your car. Then you can choose a type of car insurance to suit your needs, whether for collision or comprehensive coverage (optional), or additional protection such as roadside assistance and replacement value (optional).

What are the three types of car insurance?

The main categories of car insurance are liability insurance (mandatory), collision and upset, and comprehensive excluding collision or upset (e.g., fire, theft, vandalism, windshield replacement). These types of car insurance can be combined in a single policy, called All Risks. Finally, additional options can be added, such as replacement value, roadside assistance and car rentals.

What type of insurance contract?

Car insurance policies generally fall into three broad categories: liability insurance (mandatory), collision or upset, and comprehensive excluding collision or upset (e.g., fire, theft, vandalism, windshield replacement). Depending on your needs, you can also choose additional protection. For example, for a new car, you may want peace of mind with replacement cost protection.

What are the different types of insurance?

There are several types of car insurance in Canada. First, liability insurance is mandatory. Collision and comprehensive coverage is optional, as are additional coverages such as replacement cost and replacement value.

Vincent Morin

Vincent achieved financial independence and took early retirement (FIRE) at the age of 35. After a career in financial technology with a major American investment bank, he founded Retraite101, a personal finance website that reaches over 350,000 unique visitors annually and has more than 40,000 social media followers. Passionate about finance, reading, cycling, hiking, and travel, he continues to write for several Quebec media outlets to inspire and motivate those who want to take control of their finances.

All posts by Vincent Morin