Auto Insurance Plans | Auto Insurance Quotes | Canadian LIC (2024)

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It would be best to have insurance specifically designed for you and your automobile to be effectively protected. We provide coverage choices and discounts for various types of drivers and ways of life.

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You can discover the best coverage for your Car Insurance with Canadian LIC’s assistance. Customized solutions, easy access to various coverage options, professional knowledge, and effective claims management are all part of our customer-oriented approach.

• Provincial Variations: Understand that Auto Insurance rules and requirements vary by province.
• Mandatory Coverage: Be aware of the mandatory coverage types in your province.
• Optional Coverage: Consider additional coverage options for better protection.
• Discounts: Ask about available discounts, such as safe driver or bundling.
• Deductibles: Know your deductible amount and its impact on premiums.
• Claims Process: Familiarize yourself with the claims process and requirements.
• Policy Limits: Understand your policy's limits and exclusions.
• Shop Around: Compare quotes from multiple insurers for the best rates.
• Driving Record: Your driving history affects your premiums, so maintain a clean record.
• Payment Options: Inquire about payment plans and options for convenience.

Car Insurance in Canada operates as a financial safeguard for drivers. It functions through a system of mandatory coverage, additional options, premium calculations, deductibles, insurance providers, and a claims process.

Firstly, there are mandatory coverage components that all drivers must have. These include Third-Party Liability Coverage, which covers injury or damage caused to others in an accident, Accident Benefits Coverage, which gives out compensation for medical expenses and lost income, and Uninsured and Underinsured Motorist Coverage, protecting against drivers without sufficient insurance.

Secondly, drivers can choose to purchase additional coverage, such as Collision Coverage, Comprehensive Coverage, or specialized options through endorsem*nts or riders. The cost of premiums varies depending on factors like driving history, age, vehicle type, location, and the selected coverage.

Deductibles come into play when filing a claim, where the policyholder pays a set amount before the insurance coverage applies. Insurance providers, including companies and brokers, offer various policies with different rates and terms.
Lastly, when an accident occurs or a claim needs to be made, policyholders contact their insurance company. The insurer guides them through the claims process, assesses damages, and provides compensation according to the terms of the policy.

It’s essential to understand that Car Insurance regulations and requirements can vary by province or territory in Canada, so drivers should familiarize themselves with local laws and coverage specifics. Reviewing policies carefully ensures that they align with individual needs and adhere to regional regulations.

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• Driver's License: You should have a valid driver's license issued by the relevant provincial or territorial authority. This license should be appropriate for the type of vehicle you intend to insure (e.g., a standard driver's license for a passenger vehicle).
• Age: In most cases, you must be of legal driving age, which is typically 16 or 18, depending on the province or territory. Younger drivers, especially those under 25, may face higher insurance premiums because of their perceived higher risks.
• Residency: You must be a resident of Canada and, in some cases, a resident of the specific province or territory where you're applying for insurance.
• Vehicle Ownership: You can typically only insure a vehicle if you are the registered owner or have the owner's consent to insure it.
• Compliance with Legal Requirements: You must comply with all legal requirements, including providing accurate information to the insurance company and adhering to the province or territory's insurance laws and regulations.
• Payment of Premiums: You are required to pay the insurance premiums as specified by your chosen insurance provider.
• Clean Driving Record: While not a strict eligibility requirement, having a clean driving record (i.e., no at-fault accidents or serious traffic violations) can help you get lower insurance premiums and additional discounts.
• No Insurance Cancellation for Non-Payment: If you previously had Car Insurance and it was cancelled due to non-payment of premiums, it may be more challenging to secure coverage with another insurer. Insurance companies may view this as a higher risk.
• Consent to Credit Check: Some insurers may take into account credit checks as part of their underwriting process, so you should be prepared to provide consent for this check.

The cost of Car Insurance in Canada varies significantly as per various factors, including your location, driving history, age, type of vehicle, coverage options, and the insurance company you choose. As of my last knowledge update in September 2021, I can provide some general guidelines, but please note that actual rates can change over time and may differ significantly from one province or territory to another. It’s advisable to obtain quotes from insurance providers to get accurate, up-to-date pricing information.

Here are some approximate cost ranges for Car Insurance in Canada:

• Basic Coverage: Basic Auto Insurance coverage, including mandatory third-party liability and accident benefits, typically starts at a few hundred dollars per year. However, the specific cost varies depending on your location.
• Additional Coverage: The cost of additional coverage, such as collision and comprehensive, can significantly increase your premium. These additional coverages can range from a few hundred to over a thousand dollars per year.
• Driver Factors: Your personal factors, such as age, gender, driving history, and how long you've been licensed, can influence your premium. Younger and less experienced drivers often pay higher premiums.
• Vehicle Type: The type, make, and model of your vehicle can affect your insurance costs. High-performance or luxury vehicles tend to have higher premiums.
• Location: Insurance rates vary by province and even within provinces. Urban areas typically have higher premiums due to increased traffic and a greater risk of accidents and theft.
• Vehicle Type: The type, make, and model of your vehicle can affect your insurance costs. High-performance or luxury vehicles tend to have higher premiums.
• Discounts: A lot of insurers offer discounts for safe driving, bundling policies, having anti-theft devices, or being a member of certain organizations. These discounts can help reduce your premium.
• Deductibles: The amount you choose for your deductibles (the out-of-pocket amount you pay when making a claim) can also impact your premium. Higher deductibles often result in lower premiums.

• Shop Around: Don't settle for the first quote you receive. Compare rates and policies from multiple insurance providers. Different insurers offer varying rates and discounts, so shopping around can help you find the best deal.
• Bundle Policies: A lot of insurers even offer discounts if you bundle up your Auto Insurance with the other policies like home or renters insurance. Combining policies with the same company can result in savings.
• Maintain a Good Driving Record: If you do safe driving then your premiums can reduce over time. Don't get into accidents and traffic violations to maintain a clean driving record, which insurers often reward with lower rates.
• Choose the Right Vehicle: The type of vehicle you drive affects your insurance rates. Generally, smaller, less expensive cars with good safety records have lower premiums than high-performance or luxury vehicles.
• Increase Deductibles: Increasing the amount you have to pay out of pocket prior to your insurance taking effect can result in a reduction in your premium. If you do need to file a claim, though, be sure you can afford the deductible.
• Install Anti-Theft Devices: Equipping your vehicle with anti-theft devices like alarms or GPS tracking systems can lead to discounts on your insurance premiums.
• Drive Less: If your yearly mileage is minimal, you might be eligible for a low-mileage discount. Be honest about your driving habits when discussing your policy.
• Maintain Continuous Coverage: Keeping your insurance coverage active without any lapses demonstrates responsibility to insurers, potentially leading to lower rates.
• Ask About Discounts: Inquire about available discounts, such as those for good students, seniors, or members of professional organizations. Insurers may offer a variety of incentives.
• Consider Telematics or Usage-Based Insurance: Some insurers offer programs that monitor your driving habits using telematics devices or smartphone apps. Safe driving can result in lower rates with these programs.
• Review and Adjust Coverage: Periodically review your coverage needs. If your vehicle's value has depreciated significantly, you may consider reducing comprehensive and collision coverage.
• Choose a Higher Liability Limit: Increasing your liability coverage can provide additional protection and may not significantly impact your premium.
• Pay Annually: If possible, pay your premium in one lump sum annually instead of monthly. Many insurers offer discounts for annual payments.

• Driving History: A clean record with no accidents or traffic violations usually leads to lower premiums rates, while a history of accidents or tickets can result in higher premiums.
• Age and Gender: Younger, less experienced drivers often pay higher premiums. Gender can also affect rates, though some provinces have eliminated gender-based pricing.
• Type of Vehicle: The make, model, and age of your vehicle impact premiums. The cost of insurance for high-performance or luxury cars is typically more.
• Location: Where you live affects rates. Urban areas with higher traffic and crime rates often have higher premiums than rural areas.
• Coverage Level: The coverage extent, including deductibles and limits also affects the cost. More comprehensive coverage usually comes with higher premiums.
• Claims History: There can be higher premiums in the case of frequent claims as insurers see you as a higher risk.
• Drive Less: If your yearly mileage is minimal, you might be eligible for a low-mileage discount. Be honest about your driving habits when discussing your policy.
• Discounts: A lot of insurers offer discounts for factors like safe driving, bundling policies, anti-theft devices, and more.
• Usage: How often you drive and your annual mileage can impact rates. Low mileage may qualify for lower premiums.
• Credit Score: In some provinces, insurers use credit scores to determine rates. The more is the credit score the lower will be the premium.
• Age of Driver: Young and senior drivers may face higher rates as they are often considered higher risk.
• Marital Status: Married individuals may receive lower rates compared to single drivers.
• Occupation: Some professions may qualify for discounts based on perceived lower risk.
• Loyalty and Claims History: Staying with the same insurer and having a claims-free history can result in discounts.
• Additional Drivers: Adding high-risk drivers to your policy can increase premiums.
• Policy Deductibles: Higher deductibles often lead to lower premiums, but you'll pay more out of pocket in case of a claim.
• Insurance Company: Different insurers have varying rates and underwriting practices, so it's essential to shop around.

• Third-Party Liability Coverage: This covers costs in the case of inury to someone or damage to their property in an accident. The minimum required liability limit in Ontario is $200,000, but higher limits are recommended.
• Statutory Accident Benefits Coverage: This provides compensation for medical expenses, rehabilitation, and loss of income for you and the passengers if you are injured in an accident, regardless of fault.
• Direct Compensation - Property Damage (DC-PD) Coverage: This coverage takes care and pays for the repair or replacement of your vehicle and its contents if another driver is at fault for the accident.

• 24/7 claims support
• Multi-vehicle discount
• Loss of use coverage
• Flexible premium payment options
• Online service

The “best” Auto Insurance company in Canada can vary depending on an individual’s specific needs, preferences, and location, as different companies may offer better rates or coverage options in different provinces or territories. Additionally, the best company for one person might not be the best for another due to personal driving history, vehicle type, and coverage requirements.

However, here we list some of the more well-known and generally respected Auto Insurance companies in Canada. Remember that the reputation and performance of these companies could have changed since then, so it’s always best to perform current research, compare quotes, and read recent reviews:

• Intact Financial Corporation: Often reported to be one of the biggest Auto Insurance providers in Canada, known for its customer service and comprehensive coverage options.
• Intact Financial Corporation: Often reported to be one of the biggest Auto Insurance providers in Canada, known for its customer service and comprehensive coverage options.
• TD Insurance: Part of the TD Bank Group, it offers competitive rates, especially for drivers who have banking products with TD.
• Desjardins General Insurance: As one of the leaders in the insurance space, Desjardins is known for its customer service and competitive pricing.
• Aviva Canada: Aviva offers a wide range of insurance products and is known for its customizable insurance policies.
• State Farm Canada: Known for its extensive network of agents and a personalized approach to insurance (State Farm operations in Canada were rebranded as Desjardins Insurance).
• Co-operators General Insurance Company: A Canadian-owned and operated company that provides a good number of insurance products with a focus on customer service.
• Belairdirect: A subsidiary of Intact Financial, known for its innovative offerings such as online purchasing and management of policies.
• Allstate Insurance Company of Canada: Offers a range of products and discounts with a strong presence in several Canadian provinces.
• Economical Insurance: One of Canada's larger property and casualty insurers, offering a range of personal and commercial insurance products.
• Sonnet Insurance: Known for its fully online experience, Sonnet allows customers to get a quote and purchase insurance entirely online.

• Compare Quotes: Use online tools to compare quotes from different insurers.
• Check Coverage Options: Make sure the insurer offers the coverage options that are important to you, whether that's comprehensive, collision, liability, or additional endorsem*nts.
• Read Reviews: Go through customer reviews and ratings to see how the company handles claims and customer service.
• Consider Financial Stability: Check the financial stability of the insurance company through rating agencies like A.M. Best.
• Understand the Claims Process: A company with an easy, fast, and transparent claims process can be very beneficial.
• Ask About Discounts: Some companies provide discounts for various reasons (e.g., being a safe driver, having multiple policies, installing winter tires, etc.).
• Professional Advice: Consult with an insurance broker or agent who can offer personalized advice based on your circ*mstances.

• Experience and Expertise: Canadian LIC has a long history and a strong presence in the Canadian insurance industry. The knowledge and expertise can reassure you if you want stability and a deep market understanding.
• Wide Range of Coverage Options: You will get a broad spectrum of Auto Insurance coverage options, such as personal Auto Insurance, commercial Auto Insurance, and specialty coverage. Hence, you can tailor your policies to your specific needs.
• Competitive Rates: Canadian LIC offers competitive and affordable rates because of good relationships with multiple insurers, enabling them to find the best coverage at a reasonable price.
• Customer Service: We prioritize excellent customer service, providing quick and efficient claims processing and assistance with policy inquiries.
• Local Knowledge: We possess an in-depth understanding of the Canadian Auto Insurance landscape, including provincial regulations and unique market dynamics. This local knowledge can benefit in navigating the complexities of Auto Insurance.
• Transparency: We provide clear and understandable policy documents, ensuring that customers know what they're getting with their coverage.
• Reputation: Canadian LIC has a positive track record and a history of satisfied customers, which can serve as a testament to their reliability and trustworthiness.
• Safe Driver Discounts: Get Safe Driver Discounts for responsible driving. Having a clean driving record and avoiding accidents can qualify for lower premiums, providing an incentive for safe practices and saving money on your coverage.

• Third-Party Liability Coverage: This coverage is compulsory in all provinces and territories. It covers the cost of injuries or damage caused to other people and their property if you are at fault in an accident. The minimum required liability limit varies by province but is often between $200,000 and $2 million.
• Accident Benefits Coverage: Also mandatory across Canada, this coverage provides compensation for medical expenses, rehabilitation, and lost income for you and the passengers if you get injured in any accident, regardless of your fault.
• Direct Compensation - Property Damage (DC-PD) Coverage: This mandatory coverage, available in some provinces like Ontario, covers the damage to your vehicle and its contents if another driver is at fault for the accident.

• Collision Coverage: This coverage pays out for any repair or replacement of your vehicle in case of a collision, regardless of fault.
• Comprehensive Coverage: Comprehensive coverage safeguards your vehicle from non-collision-related damage, including theft, vandalism, fire, and natural disasters.
• Specified Perils Coverage: This particular coverage provides protection against specific perils, which include fire, theft, and specific natural disasters that take place.
• All Perils Coverage: This coverage is a combination of collision and comprehensive coverage, offering the most extensive protection for your vehicle.
• Endorsem*nts or Riders: You can add additional coverage options, like rental car coverage, coverage for custom equipment, or increased liability limits, through endorsem*nts or riders.
• Usage-Based Insurance (UBI): Some insurers offer UBI programs that track your driving habits and can adjust your premium based on your actual driving behaviour.
• Uninsured and Underinsured Motorist Coverage: While mandatory in some provinces, this coverage can also be optional in others. It protects you if you are in the case of an accident with a driver who doesn't have or have insufficient insurance.
• Rental Car Coverage: This optional coverage provides insurance when renting a vehicle, saving you from buying expensive rental Car Insurance at the counter.
• Roadside Assistance: Many insurers offer optional roadside assistance coverage, which can help with services like towing, jump-starts, and flat tire changes.