Mandatory car insurance in Truro, Nova Scotia
Car insurance is mandatory not only in Truro but all throughout Nova Scotia. Therefore, all licenced Truro drivers must have a valid car insurance policy at all times in order to operate their car on the road. What is a valid car insurance policy? It’s a policy that complies with the minimum coverage requirements for auto insurance in Nova Scotia. These requirements include a minimum of $500,000 in:
- Third-party liability coverage
- Uninsured automobile coverage
- Accident benefits coverage
But first, in order to be eligible to purchase car insurance in Truro, motorists must have a valid driver’s license. Licenced drivers will also need to provide a record of their driving history to their insurance company. Also, any information regarding other people who may be driving their vehicle, such as a spouse or adult child, will be required as well.
If you have questions about mandatory insurance coverage in Truro, get in touch with BrokerLink today.
Uninsured driver in Truro, Nova Scotia
As we explained above, car insurance is required in Nova Scotia. Thus, if you choose to drive without insurance, including expired insurance that you failed to renew on time, you are breaking the law. If a motorist is pulled over while driving without insurance in Truro, or anywhere else in Nova Scotia, they could:
- Be fined between $1,250 and $4,000 for a first offence
- Be fined between $3,000 and $5,850 for repeat offences
- Lose your licence for a minimum of 90 days (suspension)
- Have your vehicle impounded for 90 days
When you consider the penalties, is not having insurance truly worth the risk? If you find yourself in need of car insurance quickly, contact BrokerLink. We will help you find a policy with the right coverage.
Basic auto insurance coverage for Truro motorists
At a bare minimum, licenced drivers in Truro need to have a car insurance policy that meets the coverage requirements required by the province of Nova Scotia. There are four types of coverage in a basic auto insurance policy: third-party liability coverage, accident benefits coverage, direct compensation - property damage coverage, and uninsured automobile coverage. Read on to learn more about each coverage type and what kind of protection they offer:
Third-party liability coverage
Liability provides protection if you get into an accident that injures another person or results in property damage to another person’s property. Under this portion of your policy, you can receive compensation to pay for medical expenses associated with bodily injuries or repairs of a damaged car, as well as any legal fees or court fees up to the coverage limit. Truro drivers are required to purchase auto insurance policies with no less than $500,000 in third-party liability insurance.
Uninsured automobile coverage
Uninsured automobile coverage protects you and any passengers in your vehicle if you get into an accident with an at-fault driver who is uninsured or underinsured. This type of coverage also protects in the event of a hit-and-run. Uninsured automobile coverage covers medical expenses relating to injuries, car repairs due to damage, lost wages, and more.
Accident benefits coverage
If you, a passenger or a pedestrian, require medical attention following a collision, accident benefits coverage comes in handy. Protection is offered regardless of which party was at fault for the collision and can help cover loss of income and medical expenses, such as prescription medications, physical therapy, rehabilitation, and more.
Optional car insurance coverage in Truro
In addition to the required coverages, drivers in Truro can add on other types of coverage to their policies. While not required by law, these additional coverages can offer further protection and peace of mind. Below are some examples of optional auto insurance coverages available in Truro:
If you get into an accident with another car or object on the road, no matter which driver is at fault for the accident, collision coverage can help cover the costs. Under the collision coverage portion of your policy, your insurance company can help pay for property damage that resulted from the collision, such as a damaged vehicle.
For added peace of mind, Truro drivers may choose to include comprehensive coverage in their auto insurance policies. While standard auto insurance coverage in Nova Scotia provides some protection against accidents, it does not protect drivers from many other circumstances on the road. For example, if your car is stolen, basic car insurance won’t help. But if you purchase this coverage, you can be protected against everything from theft and vandalism to water damage, fire, and more. This means that if your car was stolen, your insurance company would help cover the costs of replacing it, rather than having to pay for a new one entirely out-of-pocket.
Accident forgiveness coverage
One final type of optional coverage popular among Truro drivers is accident forgiveness. Accident forgiveness is additional coverage that can be added to your insurance policy as an endorsement to protect your driving record and to help prevent your insurance premium from increasing if you have an at-fault accident claim. Note: coverage varies by province.
How insurance companies calculate Truro car insurance rates
Nova Scotia insurance companies consider several factors while calculating your car insurance premiums. When determining the cost of car insurance, certain details matter more than others, and we feel it might be helpful for Truro motorists to learn which ones these are. So, we have assembled the following list of key factors that impact your insurance rates:
- Where you live (and work - if you drive to work)
- Make and model of vehicle
- Past claims
- Annual mileage
- Driving experience
- Driving record
- Prior insurance coverage
- Your deductible
- Local laws
- How you use your vehicle
- Marital status
How you can save money on Truro car insurance
It should be a crime to overpay for auto insurance. Luckily, drivers in Nova Scotia pay some of the lowest car insurance premiums in all of Canada, thanks to the government reforms introduced in 2003 that reduced rates by 27% across the province. Still, there are always ways you can save even more on your insurance premiums. Our knowledgeable insurance brokers at BrokerLink know the ins and outs of the car insurance market, allowing them to shop around and compare several insurance quotes for you quickly. We can even unlock car insurance discounts you may not know about to get you the best insurance rates.
Below you will find our top tips that the BrokerLink insurance advisors have put together on how to save money on your insurance in Truro, Nova Scotia:
Increase your policy deductible
Our first tip is to raise your policy deductible. Having a higher deductible can lower your premium because it means insurance companies have to pay out less after a claim. A deductible is how much the policyholder agrees to pay upfront after an insured loss before the insurance company steps in. Common deductible amounts include $250, $500, $1,000 and $2,000. Most insurance policies have a deductible and it is up to you to decide what yours will be. However, while increasing it will likely lower your insurance rate, please note that you should only choose an amount you can afford. If you were to get into a car accident tomorrow, ask yourself if you could afford to immediately pay $2,000. To learn more about how increasing your deductible can affect your insurance rates, reach out to a BrokerLink insurance advisor.
Choose annual over monthly insurance payments
Our second tip is to choose an annual installment plan instead of the more common monthly installment plan. Many insurance companies will offer you both, and while monthly payments can be tempting, we strongly recommend you pay for it annually instead. Some insurers may charge policyholders an administrative fee for each payment, meaning you would pay 12 fees with a monthly installment but only one fee annually. Thus, you will likely save money in the fees alone by paying for your policy in one annual installment instead of monthly.
Bundle multiple insurance policies together
Tip number three is to bundle multiple insurance policies together. Policyholders are often given insurance discounts when they own multiple policies from one insurance company. Therefore, if you are looking to insure all your cars together under a multi-vehicle policy, you could qualify for a multi-vehicle discount. Or, if you own different types of insurance policies at different companies, try bundling them together under one company, like your home and auto insurance. You could save up to 15% on each policy. Contact BrokerLink to learn more about saving money by bundling policies.
Install winter tires to help you stay claims-free
Tip number four to help you to save on Truro car insurance is putting winter tires on your vehicle. While they are not required in Nova Scotia, they can help you keep your claims history clear. Winter tires are more effective at braking on slippery roads, which helps to prevent rear-end collisions. They also have improved traction in snowy and icy conditions and just overall handle winter road conditions more effectively than all-season tires, meaning you are less likely to be involved in a collision. At-fault collisions often lead to filing insurance claims, which can result in higher auto insurance premiums. Moreover, some insurance companies may offer a 5% discount for drivers who install winter tires.
Buy a hybrid or electric vehicle
Owning a hybrid or electric vehicle (EV) can also be a way to save money on your insurance. Many insurance providers across Canada offer incentivized discounts to hybrid or electric vehicle owners to help them to go green. Owning one could save you up to 10% on your insurance policy.
Enrol in driving school
Lastly, our final money-saving tip is specifically for young drivers or drivers who are out of practice. We recommend you consider enrolling in a recognized Nova Scotia driving school. There are a few approved driving schools in Truro that will teach you road rules and defensive driving fundamentals. Plus, driving schools typically include a set number of hours for driving lessons. This gives you the ability to practice your driving with someone other than a friend or family member. By graduating from an approved driving course, insurance companies feel you are a safer, more responsible driver, thus decreasing your odds of getting into an accident. Because of this, your insurer may give you a driving school discount on your insurance policy.
How to get an insurance quote in Truro, Nova Scotia
You can reach us by phone or email or visit us in person at any one of our locations throughout Nova Scotia. We even have a location right here in Truro! We can answer your insurance questions, explain your coverage and policy options and even provide you with a free quote! No matter how you choose to get in touch, a BrokerLink insurance advisor will be happy to assist you.
We also invite Truro drivers to take advantage of our online quote tool. BrokerLink offers free quotes to all Truro residents. Simply provide us with some basic information about yourself and your vehicle, such as the make and model, and we will get back to you with an accurate and competitive quote in minutes.
Contact BrokerLink to request a free Truro auto insurance quote today
Are you ready to purchase a Truro, Nova Scotia auto insurance policy? BrokerLink’s expert insurance advisors are on hand to answer your questions, compare coverage options or provide you with a free quote.
No matter where you live or what car you drive, we can provide you with a no-obligation quote. Give us a call, visit us in person, or use our online quote tool to obtain a free quote in minutes. Whatever way you choose to get in touch, a BrokerLink representative will be pleased to assist you.
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What are you waiting for? Jumpstart your Truro, Nova Scotia car insurance journey by contacting BrokerLink today.
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