Although several private insurance companies operate in Nova Scotia, the province has witnessed several reforms in its insurance industry in recent years. No wonder why drivers in Nova Scotia enjoy the privilege of shelling out some of the lowest insurance rates in the country.
Now that you already know that you are paying lesser than many other provinces, why not walk the extra mile to further curtail your premiums? Reputed brokerages like Surex can help you compare quotes for the best car insurance Nova Scotia has in store.
Visit https://www.surex.com/Insurance/auto-car/nova-scotia for professional help comparing quotes and picking the right policy.
How Affordable is Car Insurance in Nova Scotia?
Drivers would be glad to know that automobile insurance in Nova Scotia is among the lowest in the country. The average annual premium in Nova Scotia is just $891.
Only in three other provinces in Canada would you find lower car insurance premiums.
- Quebec: Annual premium is $717
- Prince Edward Island: Annual premium is $816
- New Brunswick: Annual premium is $867
So, car owners in Nova Scotia should consider themselves lucky. In some provinces like British Columbia, Alberta, or Ontario, the annual premium tends to be more than double that in Nova Scotia. To give you a transparent idea, we have presented the average annual car insurance premium in some of the most expensive provinces for drivers.
- British Columbia: Annual premium is $1,832
- Ontario: Annual premium is $1,505
- Alberta: Annual premium is $1,316
- New Foundland and Labrador: Annual premium is $1,168
How Does Auto Insurance Work in Nova Scotia?
Nova Scotia’s Office of the Superintendent of Insurance regulates automobile insurance policies that private insurers provide in this province. This body also takes care of the complaints raised against private insurers.
Before increasing premiums, insurers need to seek approval from the Nova Scotia Utility and Review Board (NSUARB). This authority ensures that the premiums remain fair and reasonable.
In Nova Scotia, you can categorize the available insurance policies into two broad categories: mandatory and optional. Besides, there’s a list of add-ons or riders that can further help you increase the scope of coverage. So, when looking for the best car insurance Nova Scotia has in store, your broker will help you mix the right set of policies.
Mandatory Car Insurance Coverage in Nova Scotia
- Liability or third-party insurance
- Uninsured automobile coverage
- Accident benefits
- Direct compensation for property damage
Optional Car Insurance Coverage in Nova Scotia
- Comprehensive coverage
- Collision coverage
- Specified perils coverage
- All-perils coverage
Add-on Coverage in Nova Scotia
- Depreciation waiver
- Rental vehicle coverage
- Roadside assistance
- Loss of use
- Accident forgiveness
Purchasing the Best Car Insurance in Nova Scotia
Consulting a trusted broker can help you choose the best auto insurance in Nova Scotia. These professionals strategically evaluate your requirements and recommend the most appropriate policy. This way, they equate your vulnerabilities and necessary coverage before helping you choose an affordable scheme.
In some situations, they might also help you save on premiums by opting out of certain benefits. For instance:
- If your car is old enough, they may advise you to ignore collision coverage.
- Old cars don’t need add-ons like depreciation waiver
- Experienced drivers might overlook accident forgiveness insurance
- Based on your demographics, you can curtail the list of specified perils
Channelling their experience and industry knowledge, insurance brokers can help you choose the right policy to keep premiums manageable.
How Can You Get Cheap Car Insurance in Nova Scotia?
We have recommended some of the best ways to purchase affordable car insurance in Nova Scotia.
1. Shop Around and Compare
In the first place, car owners would think of comparing quotes from the best car insurance companies in Nova Scotia. Shopping around and comparing quotes happens to be the best strategy to shortlist your insurer.
However, the process can be time-consuming, which explains why you should consult a broker. Trusted insurance brokers obtain your details and provide customized quotes from the top insurance companies in a few minutes. This saves you time and effort shopping around and comparing quotes.
2. Look for Discounts
Are you a member of a school alumnus, union, or a large corporation? Or do you have a flawless driving record under your name? Many insurers incentivize their clients by offering discounts and rebates on premiums.
Look out for discounts or seasonal offers to keep your premium affordable. Your broker can help you find the best deals since they remain abreast with these offers from reputed insurers.
3. Drive Responsibly
Maintaining a neat record by cultivating responsible driving habits goes a long way in keeping premiums manageable. Remember, traffic convictions, like crashes, remain on your driving record for five to ten years. This can reflect in terms of higher premiums in the years to come.
As a countermeasure to prevent accidents from spiking your premium, get accident forgiveness insurance as an add-on.
4. Shell Out a Higher Deductible
Deductible refers to the amount you pay before your insurer settles your claim. So, if you are paying $500 as the deductible now, consider raising the amount to $1,000. Your insurer will acknowledge your efforts to keep the costs low for them and reduce your premiums.
5. Install Necessary Gear
Depending on the terrain you navigate, consider installing the necessary gear to keep premiums low. For instance, installing winter tires can make you eligible for a discount of up to 5% on your premiums. Likewise, cars with anti-theft devices and tracking mechanisms involve lower premiums.
6. Go for Multi-car Insurance
Do you have more than one vehicle in your family? Or are several members of your family driving these cars? Get a single policy to cover all these vehicles and drivers to qualify for a discount.
The Best Car Insurance Nova Scotia Has in Store — Endnote
While most drivers look out for the best auto insurance in Nova Scotia, it’s imperative to be right with your basics. For instance, try sticking with the same insurer when you renew your policy. Don’t pay monthly premiums, and switch to the annual payment mode to save more. Also, try bundling car and home insurance policies with the same insurer.
Reputed insurance brokers like Surex can put you on the right track while choosing the best policy. Consulting professionals can help you make valuable savings in terms of premiums over the years.