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Auto Insurance
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It would be best to have insurance specifically designed for you and your automobile to be effectively protected. We provide coverage choices and discounts for various types of drivers and ways of life.
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You can discover the best coverage for your Car Insurance with Canadian LIC’s assistance. Customized solutions, easy access to various coverage options, professional knowledge, and effective claims management are all part of our customer-oriented approach.
Canadian LIC- Protecting You on the Road Ahead. Trusted Coverages, Tailored for You. Your Safety is Our Priority.
What to know before buying Auto Insurance in Canada?
You should know the following before taking the decision to buy Auto Insurance:
- Provincial Variations: Understand that Auto Insurance rules and requirements vary by province.
- Mandatory Coverage: Be aware of the mandatory coverage types in your province.
- Optional Coverage: Consider additional coverage options for better protection.
- Discounts: Ask about available discounts, such as safe driver or bundling.
- Deductibles: Know your deductible amount and its impact on premiums.
- Claims Process: Familiarize yourself with the claims process and requirements.
- Policy Limits: Understand your policy's limits and exclusions.
- Shop Around: Compare quotes from multiple insurers for the best rates.
- Driving Record: Your driving history affects your premiums, so maintain a clean record.
- Payment Options: Inquire about payment plans and options for convenience.
How does Car Insurance work?
Car Insurance in Canada operates as a financial safeguard for drivers. It functions through a system of mandatory coverage, additional options, premium calculations, deductibles, insurance providers, and a claims process.
Firstly, there are mandatory coverage components that all drivers must have. These include Third-Party Liability Coverage, which covers injury or damage caused to others in an accident, Accident Benefits Coverage, which gives out compensation for medical expenses and lost income, and Uninsured and Underinsured Motorist Coverage, protecting against drivers without sufficient insurance.
Secondly, drivers can choose to purchase additional coverage, such as Collision Coverage, Comprehensive Coverage, or specialized options through endorsements or riders. The cost of premiums varies depending on factors like driving history, age, vehicle type, location, and the selected coverage.
Deductibles come into play when filing a claim, where the policyholder pays a set amount before the insurance coverage applies. Insurance providers, including companies and brokers, offer various policies with different rates and terms.
Lastly, when an accident occurs or a claim needs to be made, policyholders contact their insurance company. The insurer guides them through the claims process, assesses damages, and provides compensation according to the terms of the policy.
It’s essential to understand that Car Insurance regulations and requirements can vary by province or territory in Canada, so drivers should familiarize themselves with local laws and coverage specifics. Reviewing policies carefully ensures that they align with individual needs and adhere to regional regulations.
What do I need to be eligible for Car Insurance in Canada?
You generally need to meet certain requirements.to be eligible for Car Insurance in Canada However, specific eligibility criteria can vary by province or territory, and insurance providers may have their own policies. Here are the typical eligibility requirements:
- Driver's License: You should have a valid driver's license issued by the relevant provincial or territorial authority. This license should be appropriate for the type of vehicle you intend to insure (e.g., a standard driver's license for a passenger vehicle).
- Age: In most cases, you must be of legal driving age, which is typically 16 or 18, depending on the province or territory. Younger drivers, especially those under 25, may face higher insurance premiums because of their perceived higher risks.
- Residency: You must be a resident of Canada and, in some cases, a resident of the specific province or territory where you're applying for insurance.
- Vehicle Ownership: You can typically only insure a vehicle if you are the registered owner or have the owner's consent to insure it.
- Compliance with Legal Requirements: You must comply with all legal requirements, including providing accurate information to the insurance company and adhering to the province or territory's insurance laws and regulations.
- Payment of Premiums: You are required to pay the insurance premiums as specified by your chosen insurance provider.
- Clean Driving Record: While not a strict eligibility requirement, having a clean driving record (i.e., no at-fault accidents or serious traffic violations) can help you get lower insurance premiums and additional discounts.
- No Insurance Cancellation for Non-Payment: If you previously had Car Insurance and it was cancelled due to non-payment of premiums, it may be more challenging to secure coverage with another insurer. Insurance companies may view this as a higher risk.
- Consent to Credit Check: Some insurers may take into account credit checks as part of their underwriting process, so you should be prepared to provide consent for this check.
How much does Car Insurance cost?
The cost of Car Insurance in Canada varies significantly as per various factors, including your location, driving history, age, type of vehicle, coverage options, and the insurance company you choose. As of my last knowledge update in September 2021, I can provide some general guidelines, but please note that actual rates can change over time and may differ significantly from one province or territory to another. It’s advisable to obtain quotes from insurance providers to get accurate, up-to-date pricing information.
Here are some approximate cost ranges for Car Insurance in Canada:
- Basic Coverage: Basic Auto Insurance coverage, including mandatory third-party liability and accident benefits, typically starts at a few hundred dollars per year. However, the specific cost varies depending on your location.
- Additional Coverage: The cost of additional coverage, such as collision and comprehensive, can significantly increase your premium. These additional coverages can range from a few hundred to over a thousand dollars per year.
- Driver Factors: Your personal factors, such as age, gender, driving history, and how long you've been licensed, can influence your premium. Younger and less experienced drivers often pay higher premiums.
- Vehicle Type: The type, make, and model of your vehicle can affect your insurance costs. High-performance or luxury vehicles tend to have higher premiums.
- Location: Insurance rates vary by province and even within provinces. Urban areas typically have higher premiums due to increased traffic and a greater risk of accidents and theft.
- Vehicle Type: The type, make, and model of your vehicle can affect your insurance costs. High-performance or luxury vehicles tend to have higher premiums.
- Discounts: A lot of insurers offer discounts for safe driving, bundling policies, having anti-theft devices, or being a member of certain organizations. These discounts can help reduce your premium.
- Deductibles: The amount you choose for your deductibles (the out-of-pocket amount you pay when making a claim) can also impact your premium. Higher deductibles often result in lower premiums.
What can I do to get cheap Car Insurance?
To get cheap Car Insurance in Canada, you can employ several strategies and make informed choices:
- Shop Around: Don't settle for the first quote you receive. Compare rates and policies from multiple insurance providers. Different insurers offer varying rates and discounts, so shopping around can help you find the best deal.
- Bundle Policies: A lot of insurers even offer discounts if you bundle up your Auto Insurance with the other policies like home or renters insurance. Combining policies with the same company can result in savings.
- Maintain a Good Driving Record: If you do safe driving then your premiums can reduce over time. Don't get into accidents and traffic violations to maintain a clean driving record, which insurers often reward with lower rates.
- Choose the Right Vehicle: The type of vehicle you drive affects your insurance rates. Generally, smaller, less expensive cars with good safety records have lower premiums than high-performance or luxury vehicles.
- Increase Deductibles: Increasing the amount you have to pay out of pocket prior to your insurance taking effect can result in a reduction in your premium. If you do need to file a claim, though, be sure you can afford the deductible.
- Install Anti-Theft Devices: Equipping your vehicle with anti-theft devices like alarms or GPS tracking systems can lead to discounts on your insurance premiums.
- Drive Less: If your yearly mileage is minimal, you might be eligible for a low-mileage discount. Be honest about your driving habits when discussing your policy.
- Maintain Continuous Coverage: Keeping your insurance coverage active without any lapses demonstrates responsibility to insurers, potentially leading to lower rates.
- Ask About Discounts: Inquire about available discounts, such as those for good students, seniors, or members of professional organizations. Insurers may offer a variety of incentives.
- Consider Telematics or Usage-Based Insurance: Some insurers offer programs that monitor your driving habits using telematics devices or smartphone apps. Safe driving can result in lower rates with these programs.
- Review and Adjust Coverage: Periodically review your coverage needs. If your vehicle's value has depreciated significantly, you may consider reducing comprehensive and collision coverage.
- Choose a Higher Liability Limit: Increasing your liability coverage can provide additional protection and may not significantly impact your premium.
- Pay Annually: If possible, pay your premium in one lump sum annually instead of monthly. Many insurers offer discounts for annual payments.
What determines the cost of Auto Insurance?
The cost of Auto Insurance in Canada is determined by several factors, including:
- Driving History: A clean record with no accidents or traffic violations usually leads to lower premiums rates, while a history of accidents or tickets can result in higher premiums.
- Age and Gender: Younger, less experienced drivers often pay higher premiums. Gender can also affect rates, though some provinces have eliminated gender-based pricing.
- Type of Vehicle: The make, model, and age of your vehicle impact premiums. The cost of insurance for high-performance or luxury cars is typically more.
- Location: Where you live affects rates. Urban areas with higher traffic and crime rates often have higher premiums than rural areas.
- Coverage Level: The coverage extent, including deductibles and limits also affects the cost. More comprehensive coverage usually comes with higher premiums.
- Claims History: There can be higher premiums in the case of frequent claims as insurers see you as a higher risk.
- Drive Less: If your yearly mileage is minimal, you might be eligible for a low-mileage discount. Be honest about your driving habits when discussing your policy.
- Discounts: A lot of insurers offer discounts for factors like safe driving, bundling policies, anti-theft devices, and more.
- Usage: How often you drive and your annual mileage can impact rates. Low mileage may qualify for lower premiums.
- Credit Score: In some provinces, insurers use credit scores to determine rates. The more is the credit score the lower will be the premium.
- Age of Driver: Young and senior drivers may face higher rates as they are often considered higher risk.
- Marital Status: Married individuals may receive lower rates compared to single drivers.
- Occupation: Some professions may qualify for discounts based on perceived lower risk.
- Loyalty and Claims History: Staying with the same insurer and having a claims-free history can result in discounts.
- Additional Drivers: Adding high-risk drivers to your policy can increase premiums.
- Policy Deductibles: Higher deductibles often lead to lower premiums, but you'll pay more out of pocket in case of a claim.
- Insurance Company: Different insurers have varying rates and underwriting practices, so it's essential to shop around.
What Auto Insurance is mandatory in Ontario?
In Ontario, Canada, the following Auto Insurance coverages are mandatory:
- Third-Party Liability Coverage: This covers costs in the case of inury to someone or damage to their property in an accident. The minimum required liability limit in Ontario is $200,000, but higher limits are recommended.
- Statutory Accident Benefits Coverage: This provides compensation for medical expenses, rehabilitation, and loss of income for you and the passengers if you are injured in an accident, regardless of fault.
- Direct Compensation - Property Damage (DC-PD) Coverage: This coverage takes care and pays for the repair or replacement of your vehicle and its contents if another driver is at fault for the accident.
Benefits worth looking forward to with Canadian LIC
- 24/7 claims support
- Multi-vehicle discount
- Loss of use coverage
- Flexible premium payment options
- Online service
Which Auto Insurance company is the best in Canada?
The “best” Auto Insurance company in Canada can vary depending on an individual’s specific needs, preferences, and location, as different companies may offer better rates or coverage options in different provinces or territories. Additionally, the best company for one person might not be the best for another due to personal driving history, vehicle type, and coverage requirements.
However, here we list some of the more well-known and generally respected Auto Insurance companies in Canada. Remember that the reputation and performance of these companies could have changed since then, so it’s always best to perform current research, compare quotes, and read recent reviews:
- Intact Financial Corporation: Often reported to be one of the biggest Auto Insurance providers in Canada, known for its customer service and comprehensive coverage options.
- Intact Financial Corporation: Often reported to be one of the biggest Auto Insurance providers in Canada, known for its customer service and comprehensive coverage options.
- TD Insurance: Part of the TD Bank Group, it offers competitive rates, especially for drivers who have banking products with TD.
- Desjardins General Insurance: As one of the leaders in the insurance space, Desjardins is known for its customer service and competitive pricing.
- Aviva Canada: Aviva offers a wide range of insurance products and is known for its customizable insurance policies.
- State Farm Canada: Known for its extensive network of agents and a personalized approach to insurance (State Farm operations in Canada were rebranded as Desjardins Insurance).
- Co-operators General Insurance Company: A Canadian-owned and operated company that provides a good number of insurance products with a focus on customer service.
- Belairdirect: A subsidiary of Intact Financial, known for its innovative offerings such as online purchasing and management of policies.
- Allstate Insurance Company of Canada: Offers a range of products and discounts with a strong presence in several Canadian provinces.
- Economical Insurance: One of Canada's larger property and casualty insurers, offering a range of personal and commercial insurance products.
- Sonnet Insurance: Known for its fully online experience, Sonnet allows customers to get a quote and purchase insurance entirely online.
To find the best Auto Insurance company for your needs, consider the following steps:
- Compare Quotes: Use online tools to compare quotes from different insurers.
- Check Coverage Options: Make sure the insurer offers the coverage options that are important to you, whether that's comprehensive, collision, liability, or additional endorsements.
- Read Reviews: Go through customer reviews and ratings to see how the company handles claims and customer service.
- Consider Financial Stability: Check the financial stability of the insurance company through rating agencies like A.M. Best.
- Understand the Claims Process: A company with an easy, fast, and transparent claims process can be very beneficial.
- Ask About Discounts: Some companies provide discounts for various reasons (e.g., being a safe driver, having multiple policies, installing winter tires, etc.).
- Professional Advice: Consult with an insurance broker or agent who can offer personalized advice based on your circumstances.
Why Choose Canadian LIC?
- Experience and Expertise: Canadian LIC has a long history and a strong presence in the Canadian insurance industry. The knowledge and expertise can reassure you if you want stability and a deep market understanding.
- Wide Range of Coverage Options: You will get a broad spectrum of Auto Insurance coverage options, such as personal Auto Insurance, commercial Auto Insurance, and specialty coverage. Hence, you can tailor your policies to your specific needs.
- Competitive Rates: Canadian LIC offers competitive and affordable rates because of good relationships with multiple insurers, enabling them to find the best coverage at a reasonable price.
- Customer Service: We prioritize excellent customer service, providing quick and efficient claims processing and assistance with policy inquiries.
- Local Knowledge: We possess an in-depth understanding of the Canadian Auto Insurance landscape, including provincial regulations and unique market dynamics. This local knowledge can benefit in navigating the complexities of Auto Insurance.
- Transparency: We provide clear and understandable policy documents, ensuring that customers know what they're getting with their coverage.
- Reputation: Canadian LIC has a positive track record and a history of satisfied customers, which can serve as a testament to their reliability and trustworthiness.
- Safe Driver Discounts: Get Safe Driver Discounts for responsible driving. Having a clean driving record and avoiding accidents can qualify for lower premiums, providing an incentive for safe practices and saving money on your coverage.
Discover our Auto Insurance Coverage options to determine which ones you truly need
In Canada,a lot of Car Insurance coverage options are available to drivers. These types of Car Insurance can be grouped into two main categories: mandatory coverage and optional coverage.
Mandatory Coverage:
- Third-Party Liability Coverage: This coverage is compulsory in all provinces and territories. It covers the cost of injuries or damage caused to other people and their property if you are at fault in an accident. The minimum required liability limit varies by province but is often between $200,000 and $2 million.
- Accident Benefits Coverage: Also mandatory across Canada, this coverage provides compensation for medical expenses, rehabilitation, and lost income for you and the passengers if you get injured in any accident, regardless of your fault.
- Direct Compensation - Property Damage (DC-PD) Coverage: This mandatory coverage, available in some provinces like Ontario, covers the damage to your vehicle and its contents if another driver is at fault for the accident.
Optional Coverage:
- Collision Coverage: This coverage pays out for any repair or replacement of your vehicle in case of a collision, regardless of fault.
- Comprehensive Coverage: Comprehensive coverage safeguards your vehicle from non-collision-related damage, including theft, vandalism, fire, and natural disasters.
- Specified Perils Coverage: This particular coverage provides protection against specific perils, which include fire, theft, and specific natural disasters that take place.
- All Perils Coverage: This coverage is a combination of collision and comprehensive coverage, offering the most extensive protection for your vehicle.
- Endorsements or Riders: You can add additional coverage options, like rental car coverage, coverage for custom equipment, or increased liability limits, through endorsements or riders.
- Usage-Based Insurance (UBI): Some insurers offer UBI programs that track your driving habits and can adjust your premium based on your actual driving behaviour.
- Uninsured and Underinsured Motorist Coverage: While mandatory in some provinces, this coverage can also be optional in others. It protects you if you are in the case of an accident with a driver who doesn't have or have insufficient insurance.
- Rental Car Coverage: This optional coverage provides insurance when renting a vehicle, saving you from buying expensive rental Car Insurance at the counter.
- Roadside Assistance: Many insurers offer optional roadside assistance coverage, which can help with services like towing, jump-starts, and flat tire changes.
Mrs. Harpreet Puri is always friendly and professional and answers all of our questions with I've had nothing but positive experiences with Canadian LIC. Their safe driver discounts have saved me money, and their website interface makes managing my policy super smooth
Mina Hr
I switched to Canadian LIC recently, and I'm thrilled with the savings on my premiums. Plus, their agents were so helpful in explaining my coverage options. Highly recommend!
Jeetu P
I've been with Canadian LIC for years, and they've always come through when I needed them. Their customer service is excellent, and they made the claims process so easy after my accident.
Samantha M
I can't thank Canadian LIC enough for their exceptional service. When my car was involved in an accident, they handled the claim efficiently, and I was back on the road in no time. They truly care about their customers.
Mike R
Being a new driver, I was worried about high insurance rates. Canadian LIC worked with me to find affordable coverage, and their safe driver discounts have pleasantly surprised me. I feel secure with them.
Prabhjot B
FAQ
Yes, having Car Insurance is mandatory. All provinces and territories in Canada need the drivers to posses a minimum level of Auto Insurance coverage, typically including third-party liability and accident benefits. The specific coverage requirements and regulations may vary by region, but having Auto Insurance is a legal requirement nationwide.
Mandatory coverage typically includes third-party liability and accident benefits, but specific requirements vary by province.
Factors include your driving history, location, type of vehicle, coverage choices, and discounts.
Within provincial regulations, you can often customize coverage limits to suit your needs.
Yes, discounts are available for factors like safe driving, bundling multiple policies, and vehicle safety features.
Exchange information with other parties, report the incident to your insurer and follow their instructions for filing a claim.
To apply for Super Visa Insurance, follow the steps highlighted below:
- Researching and choosing a reputable insurance provider
- Getting a quote
- Applying the required documentation
- Paying the premium and receiving an insurance certificate
No, it is illegal to drive without insurance. You must have at least the minimum mandatory coverage.
Consider raising your deductible, maintaining a clean driving record, and exploring available discounts.
No-fault insurance means your insurance company pays for your own injury claims regardless of who caused the accident. It’s used in some provinces.
Yes, your insurance typically provides coverage when driving within Canada, but policy terms may vary.
Yes, insurance companies will provide particular discounts if you purchase multiple Super Visa Insurance plans at the same time. Each company has its own distinct offering. You must understand more about the multi-policy discount in order to save money!
Collision covers damage to your vehicle in accidents, while comprehensive covers non-collision incidents like theft and vandalism
Yes, you can often add family members or other drivers to your policy, but their driving history may affect premiums.
Typically, standard personal Car Insurance policies in Canada do not cover commercial activities like Uber or Lyft driving. To be adequately covered, you’ll need to purchase a separate rideshare or commercial insurance policy specifically designed for such activities. Always check with your insurance provider for policy details and options.
Auto Insurance in Canada typically covers hail damage if you have comprehensive coverage. Comprehensive coverage protects your vehicle from non-collision-related damage, including hailstorms, vandalism, and theft. However, the extent of coverage and deductibles can vary by policy, so review your insurance terms or consult with your provider for specific details.
The cheapest Auto Insurance in Canada can vary depending on individual factors like location, driving history, and coverage needs. It’s imperative to compare quotes from multiple insurers to find the most affordable option tailored to your circumstances and requirements.
The best Auto Insurance provider in Canada varies based on individual needs and circumstances. Popular options include Intact, Aviva, TD Insurance, and Desjardins. To find the best fit, compare quotes, consider coverage options, discounts, and customer service, and consult with insurance professionals to choose the right provider for your specific requirements.