Business & Insurance

Auto Insurance Coverage In Canada – Get Quote Now!

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Auto insurance coverage is mandatory for all drivers in Canada. It is a legal requirement that every driver must have a minimum amount of insurance coverage to protect themselves and others in case of an accident. The provincial and territorial governments regulate auto insurance coverage in Canada, meaning the coverage and rates may vary depending on where you live. This article will discuss the different types of auto insurance coverage available in Canada.

Liability Coverage

Liability coverage is the most basic auto insurance coverage that every driver must have in Canada. It covers the cost of damages or injuries you may cause to others or their property while driving your vehicle. The minimum liability coverage required by law varies from province to province, but it usually ranges from $200,000 to $2,000,000. It is important to note that liability coverage does not cover the cost of damages or injuries that you may sustain in an accident.

Collision Coverage

Collision coverage is an optional type of auto insurance coverage that covers the cost of damages to your vehicle in case of a collision with another car or object. It also covers the cost of damages if your care flips over. Collision coverage is not mandatory but is recommended for drivers with a new or expensive vehicle. The cost of collision coverage varies depending on your vehicle’s value and driving record.

Comprehensive Coverage

Comprehensive coverage is another optional type of auto insurance coverage that covers the cost of damages to your vehicle that is not caused by a collision. This includes damages caused by theft, vandalism, fire, hail, or falling objects. Comprehensive coverage is also recommended for drivers with new or expensive vehicles. The cost of comprehensive coverage varies depending on your vehicle’s value and driving record.

Uninsured Motorist Coverage

Uninsured motorist coverage is an optional type of auto insurance coverage covering the cost of damages or injuries you may sustain in an accident caused by an uninsured or underinsured driver. It also covers the price of damages or injuries that your passengers may support in the same accident. Uninsured motorist coverage is not mandatory, but it is recommended for drivers living in areas with many uninsured drivers.

Conclusion

Auto insurance coverage is mandatory for all drivers in Canada. The minimum amount of coverage required by law varies from province to province, but every driver must have liability coverage. Collision coverage and comprehensive coverage are optional types of coverage that are recommended for drivers who have a new or expensive vehicle. Uninsured motorist coverage is also optional but recommended for drivers living in areas with many uninsured drivers. Shopping around and comparing rates from different insurance companies is essential to find the best coverage at the best price.

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