Car insurance in Nova Scotia can seem like a daunting thing to figure out. But now, with this ultimate guide, you can find the best car insurance company for your needs!
With so many insurers out there, it may feel like they’re all going to offer you the same thing. Or that they’re just too expensive.
Continue reading to learn the nuances of comparing the car insurance companies Nova Scotia has to offer.
Speaking of car insurance companies in Nova Scotia, if you’d prefer to work with an insurance broker, you should team up with a reputable brokerage, like Surex.
Guide to comparing car insurance companies in Nova Scotia
In reality, most of the car insurance companies Nova Scotia has to offer will have some differences or specialties that make them stand out from the pack. If you have the latest car and you are looking for collision coverage only and not comprehensive coverage, one company might be better than another for your needs.
First, you need to start with the basics. If you are a married couple, talk to your spouse, look into their current insurance policy, and find out if they have any questions or pains. Your spouse may also be able to suggest what your combined policy should look like in terms of coverage.
However, in most cases, couples are not on a combined policy and will be looking at two different insurers during this process to get the best rate. Either way, it is still important that both of you understand your policies and their limitations. If your policy is a whole household policy, you will be paying the same amount for both of you.
To work out what coverage is best for your situation, first, you need to understand the limitations of the coverage that you have at the moment and what your goal may be.
Not sure what you’re looking for? Here are some examples of coverage that you might want to consider.
If your car is damaged by another driver or a fixed object on the road, collision insurance will help pay to get your car repaired or replaced.
If your car is damaged by theft or vandalism, comprehensive insurance will help cover those costs. When a driver damages your car but has no (or little) insurance and damages are over what their policy covers, underinsured motorist coverage helps pick up the difference for you. Medical payments pay for medical bills if you get hurt in an accident regardless of fault.
Next, you need to find out what your current policy covers. For example, if your car is damaged in an accident on the highway and another driver’s negligence hits it, then there will probably be no coverage available to you at all.
So make sure that your current coverage is adequate in this situation. If it isn’t, take a look at your other needs and consider adding things that would make you the most comfortable with the level of coverage you have. For example, if you want liability for injuries due to collisions between cars or other vehicle collisions, then get collision-only insurance rather than comprehensive insurance entirely.
Then, once you’ve decided what kind of coverage to get and what your coverage limitations are, it’s time to find the best rates from insurance companies in Nova Scotia.
You want to compare all the insurance companies in Nova Scotia that offer the kind of coverage you want to understand how different companies will react to certain situations. This can impact the price; it’s not just one price per company but based on many pricing factors and variables that can affect your rates.
One other thing to keep in mind is that some companies will require you to pay an extra fee for certain types of coverage. For example, if you want comprehensive coverage and don’t already have it as part of your policy, you will need to pay an extra for that type of coverage.
Laws governing automobile insurance in Nova Scotia
All drivers on Nova Scotia’s highways are obliged to have specific levels of insurance.
The following is the legal minimum coverage you must have:
- Liability coverage of $500,000 in the event of a single accident
- Medical costs coverage of $50,000 per person
- Funeral benefits of $2,500
- Accident benefits, such as disability income and death benefits, are available to anyone who has been wounded or killed in a car accident.
Insurance for uninsured and unidentified drivers
Most Nova Scotia drivers have coverage above and beyond the legal minimum, with average liability limits of $1,000,000 and optional coverage. This covers comprehensive collision coverage to protect your car in the event of an at-fault collision.
Why should I compare vehicle insurance prices and compare quotes from various Nova Scotia car insurance companies?
Your vehicle is much more than a financial investment; it is your means of transportation. Taking the time to compare quotes from the car insurance companies Nova Scotia has to offer gives you a chance to find the most competitive rates.
Explaining car insurance in Nova Scotia
Private insurance firms sell car insurance in Nova Scotia. The majority of policies have basic coverages that you’ll find in each one. Of course, certain insurers may offer particular coverages exclusive to their business. Even so, we’ll go over the basic coverages today, so you know what you need to feel safe on the road.
Protection for uninsured drivers
What happens if you’re hurt in a car accident, and the at-fault driver doesn’t have enough insurance to cover the damages levied as a result of a claim? The underinsured motorist protection kicks in at this point.
This will protect you if you’re involved in a collision with an underinsured motorist who causes harm or death. If you or your family are not at fault for the accident, this coverage is available to you.
Factors affecting car insurance rates
Do you commute to work in your car every day? Do you ride the bus or train? Is your vehicle parked for part of the year? Your annual premium will be affected by the sorts of vehicles you drive. Here’s some extra information about each to ensure you’ve chosen the proper use for your lifestyle.
History of the driver/claimant
We’ve all heard it before: it is crucial to have a clean driving record. Especially when calculating insurance premiums, you will earn a discount on your insurance costs if you have a good driving record.
The amount you pay is also determined by your region and where you live. There will be more people on the road in some areas of Nova Scotia, such as urban, high-population areas, resulting in more accidents and a higher rate of vandalism and theft. In comparison to rural places, you’d expect to spend more in areas where there are more risks.
If you only use your car for errands and vacations instead of commuting to work every day, your rates will differ. When you are on the road every day for business, you’re inherently more in danger than someone who doesn’t drive as much.