CAR INSURANCE IN CANADA

Drivers in Canada must have a minimum of $200,000 in Third Party Liability coverage (except in Quebec, where it is $50,000). This is to cover injuries to any other person, or their property, when you cause a traffic accident. Every province and territory in Canada, also require drivers to carry coverage for their own medical expenses and loss of income resulting from driving-related injuries. Collision coverage (to cover your own vehicle) is not mandatory in Canada unless you are leasing. If you are leasing or financing your car, you will be required by the financial institution to buy collision coverage and comprehensive insurance coverage. Comprehensive coverage protects your car against loss or damage other than collision, such as fire, falling objects, theft and vandalism. Most car insurances have a "deductible". Deductible is the amount of each claim you are required to pay before your insurance kicks-in. The higher the deductible, the lower your insurance will be. The three most important factors in determining the amount of your car insurance in Canada are your age, driving record and the amount of your deductible. First year drivers pay much higher auto insurance, but after one year of safe driving record and no major tickets, you should be able to get a significant discount on you car insurance. If you don't, then you should shop around for a better price.

If you are driving an older car consider dropping the collision coverage for your vehicle in order to lower your auto insurance payments. Something else to consider is the fact that drivers who have completed an approved drivers training course in the last 3 years pay lower premiums. Car insurance in Canada can vary by hundreds if not by thousands of dollars, so drive safe, respect the traffic laws and shop around for the best rates, and you should be able to find a decent price for your car insurance. Take advantage of some of the many web sites with free online auto insurance quotes before you buy. Bon voyage.