Car Insurance in Labrador City

Accident benefits coverage is for when you get into an accident that causes bodily injury to yourself or someone else, such as a pedestrian or passenger. If someone is harmed in the accident, you can file an accident benefits claim to help you pay for the cost of medical attention. Specifically, accident benefits cover costs not covered by health insurance, like prescription medications or physical therapy. It may also cover funeral fees and lost income if someone dies or cannot work due to their injury.

Direct compensation coverage will come into play if your car is damaged in a collision. This type of coverage will pay to repair your vehicle as long as you are not found to be at fault for the accident.

Lastly, uninsured automobile coverage will pay for a wide range of costs associated with a collision if you get into a collision with a certain type of driver. More specifically, this type of coverage will protect you if you get into an accident with an uninsured, underinsured, or anonymous driver.

Collision car coverage will pay for the cost of repairing or replacing your vehicle if it is damaged in a car accident. Collision coverage is usually claimed when the damage is extensive or when the vehicle is totalled, which can be expensive. Thus, collision coverage is good to have if you want financial protection in the event of this worst-case scenario.

Comprehensive car coverage is a second type of optional coverage that gives many Labrador City drivers peace of mind. It protects against damage or losses that may occur while your car is parked, whether it is parked on the street, on the driveway, or even at your office.

With this type of coverage, you can receive a payout from your insurance company if your car is stolen, vandalized, or damaged due to a falling object, weather, or more. The specific insured perils that comprehensive insurance covers typically include theft, vandalism, explosions and riots, falling and flying objects, fire, and weather-related incidents.

Another type of optional car insurance coverage popular among drivers in Labrador City is accident forgiveness. Accident forgiveness is additional coverage that can be added to your car insurance policy as an endorsement to protect your driving record and help prevent your insurance premium from increasing if you have an at-fault accident claim.

Note: coverage and eligibility vary by province.

A waiver of depreciation is a wise choice for Labrador City policyholders driving new cars. Since these cars are usually higher in value, a waiver of depreciation will come in handy if you are involved in an accident and your car is totalled. With this type of endorsement added to your policy, your insurance payout will be equal to the value of your car rather than account for depreciation like with actual cash value coverage.

Loss of use coverage is another type of extra protection that many Labrador City drivers like to add to their auto insurance policies. With this coverage type, you will be protected should you be without your car while it’s being repaired.

For instance, if it’s damaged in an accident and you need to go into the shop for a week, you can be reimbursed for the cost of renting a car or taking taxis during this time.