Volvo Car Insurance

[Not mandatory in Newfoundland] Accident benefits coverage is also mandatory for motorists in Canada, except for those living in Newfoundland. With this Volvo insurance policy, you, your passengers, and any pedestrians injured in a collision will receive medical coverage, regardless of who is at fault. Accident benefits coverage will cover the cost of medical bills, rehabilitation expenses, and other costs associated with your recovery.

[Not mandatory in Alberta] Uninsured motorist coverage is a required component of Canadian vehicle insurance premiums. It covers you and any passengers in your vehicle if you are involved in an accident with an at-fault motorist who is either uninsured or underinsured. In addition, if you are in an accident with a hit-and-run driver who flees the scene before you can exchange information, you will be covered under this insurance plan.

[Not mandatory in Ontario] If you are injured or your vehicle is damaged in an accident that was not your fault, you are covered by direct compensation for property damage. This sort of coverage allows the policyholder to file a claim directly with the insurance company. This type of insurance is optional in Ontario but mandatory in other provinces and is designed to ensure you are fairly and efficiently reimbursed for car damage without having to negotiate with a third-party insurance provider.

Unlike liability coverage, collision car coverage is optional in Canada, but Volvo drivers may wish to buy it for added protection. This type of collision insurance protects you whenever you get into an accident with another car or object on the road, regardless of whether you’re at fault for the accident or not, including side collision protection, head-on collisions, fender benders, and more. If your vehicle is financed or leased, this coverage may not be optional. It is best to check in with your lender before declining this coverage. 

Volvo drivers who value peace of mind may wish to purchase comprehensive car coverage. While the types of coverage that are compulsory in Canada may provide adequate coverage in case of an accident, they do not cover other circumstances, such as theft, vandalism, fire, or water damage. Comprehensive insurance, on the other hand, offers just that, providing financial protection against a wide range of circumstances, including the ones listed above. Similar to collision coverage, this coverage may also be mandatory depending on your financing or leasing company. Verify with them before purchasing a policy.

One more type of optional car insurance coverage popular among Volvo vehicles 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 to help prevent your insurance costs from increasing if you have an at-fault accident claim.

If you're buying a new car, adding this coverage to your policy is worth considering. It ensures you're covered for the full value of your vehicle without factoring in depreciation. That means if your car is stolen or totalled, you'll be reimbursed for the cost of a brand-new vehicle—not just what it's worth after wear and tear.

If you ever get into an accident and your car needs repairs, loss of use coverage has your back. While your car is in the shop, this coverage helps pay for other ways to get around—whether that's hopping on public transit, using ride shares, or renting a car. It can be a real lifesaver, especially if your car ends up being out of commission for days or even weeks.