Auto Insurance

As a responsible car owner, it's very important that you know about the basics of auto insurance. Read on to know more about mandatory Canadian laws on car insurance.

The basics of auto insurance

Auto insurance is one of the most basic and essential types of insurance that you should get as a car owner. If you get into an accident, you may face numerous expenses for car repairs to your automobile and other automobiles involved in the collision, as well as medical expenses for any injuries caused to accident victims, not to mention legal costs for lawsuits resulting from the collision. In fact, this form of insurance is so important that all Canadian car owners are normally required to have some form of car insurance, whether it be comprehensive or no-fault insurance. In this article, you will learn about the basics of car insurance and car insurance laws in Canada.

Auto insurance laws in Canada

As mentioned above, all Canadian provinces require car owners to have some form of insurance. Each province has a minimum requirement for the type of auto insurance and benefits that are needed. In general, all provinces except for Newfoundland and Labrador require you to have accident benefits coverage as well as a no-fault insurance of some kind to ensure that accident victims are covered by the plan. Aside from the legally required amount of insurance enforced in each province, you can also opt for private plans with more coverage, benefits, and options. It is important to know the laws and regulations in the province where you live to ensure that you get the proper amount of coverage that you need on your insurance plan.