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Car insurance in Moncton
Car insurance in Moncton is mandatory in order to legally drive a vehicle. But while you can't change the law, you can control how much you spend on your auto insurance. At Kanetix.ca, we can find you the lowest insurance rates in Moncton with all the coverage you need. Compare auto insurance rates from over 50+ providers in minutes and uncover the best deal. It's simple to use, quick and secure.
Real rates for real customers.
What is covered in your car insurance policy
- Accident benefits: Covers medical and rehabilitation costs, funeral benefits, death benefits, and loss of income if you or your passengers are injured in a collision, even if you were found at fault.
- Third party liability: Covers you if you are found responsible for injuring someone or damaging someone's property with your car. Minimum required coverage is $200,000, but most drivers in New Brunswick opt for more.
- Direct compensation - Property damage (DCPD): Covers damage to or loss of your vehicle and its contents due to a collision, for which you are not at fault. Even though you're not responsible, you still collect compensation directly from your own insurer. Certain conditions apply.
- Uninsured and unidentified insurance: Covers you in the event you are injured in a collision by an uninsured driver, or if you are involved in a hit-and-run and the vehicle or driver cannot be identified. Damage to your vehicle is also covered, subject to a deductible.
- Collision or upset insurance: Covers losses related to a collision with another object (including another vehicle) or a rollover. May be subject to a deductible.
- Comprehensive insurance: Covers damage to your vehicle resulting from theft or vandalism. May be subject to a deductible.
- Depreciation waiver coverage: Covers the full value of your car without depreciation (even if you haven't fully paid it off yet) if it is written-off in an accident within the first 24 months of the original delivery date. If your car can be safely repaired, this insurance covers that too.
What goes into your Moncton car insurance rate?
People are sometimes surprised to learn that where you live can have an impact on how much you spend on auto insurance. But statistics reveal that your place of residence can influence the likelihood of getting into an accident. Moncton is the second largest city in the province of New Brunswick after Saint John, but the population is still small in comparison to, let's say, other capital cities. With smaller populations come lower insurance rates, because less cars on the road means a decreased risk of you getting into an accident.
Car insurance rates are also determined by several other factors, including:
- Your commute: If you work far away from your home or drive a considerable distance to get to school, that often translates into higher premiums. The more time you spend on the road, the more you are at risk of getting into an accident.
- Your driving history: Your insurance premiums will reflect your past driving behaviour, including accidents, infractions, tickets or charges that appear on your driving record. Those with clean records will generally be rewarded with lower costs for coverage.
- The car you drive: Vehicle model and year have always been a major component in determining an auto insurance rate. Some cars have a higher theft rate, while others cost more to repair. And some score higher than others in safety ratings.
If you're in the market to buy a new car, make sure you factor in the cost of insurance before you lay down the cash. Let us help make your purchase decision easier. Compare car insurance quotes for multiple vehicles, side by side.
Other ways to lower your rates
As the average yearly snowfall is over 100 inches in Moncton, it's always better to err on the side of caution and install snow tires to meet winter driving conditions head on. Some insurance companies will even reward their customers for taking safe driving measures, like installing winter tires and using roadside assistance programs.
There are many different auto insurance discounts available. While they may not have been directly offered to you, you can still inquire about any that may apply to you.
Holding multiple policies with the same insurance provider is a common way to save money. Many insurance companies apply significant loyalty discounts to clients who decide to buy various products with them, like home insurance, motorcycle insurance, RV insurance, or tenant's insurance.
You may also qualify for more discounts if you install additional security equipment or anti-theft devices in your car, or equip your garage with an alarm system.
Being a retired driver or a student driver with good grades can warrant a discount with some insurance companies. And drivers who have completed a certified driver's training course are usually entitled to a cost reduction as well.
But how often is regular? Shop around annually before you renew your policy with the same company to see if you can get a cheaper rate somewhere else.
Rates can also change when you get married (or divorced), move, buy a new car, add drivers to your policy (like your teen), get a ticket, get into an accident, change jobs or retire. So when your life changes, it's a good idea to shop around for a cheaper car insurance rate.
Not ready to shop for insurance today?Set a renewal reminder and we'll let you know when it's time to save.
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