Ensure Your Peace of Mind With Car Insurance in Moncton
Moncton, New Brunswick, is the largest population centre in the province. Centrally located in New Brunswick, Moncton has historically been a hub of trade, commerce and transportation. It has been nicknamed Hub City for this reason. Getting good car insurance in Moncton is important for those with cars.
Because of its location and economic situation, Moncton is also a city many people visit. The city offers public transportation and bike rentals, but driving is much more common. More cars on the street, many driven by visitors, means safe, defensive driving, awareness of roads and good insurance are important.
Property crime, which includes car theft and vandalism, is reported to police in Moncton at rates 65% higher than the rest of New Brunswick and 50% higher than the rest of Canada. Residents and visitors should ensure their vehicles are protected in the event of both accidents and crimes.
The Importance of Good Car Insurance in New Brunswick
Canadian law requires all drivers to have car insurance, but different provinces may have different minimum requirements. Different policies may also have different exclusions and maximum coverage options. In New Brunswick, the minimum car insurance coverage requires:
- A minimum of $50,000 per person for medical coverage.
- A minimum of $200,000 for liability coverage
- Accident benefits, which must include death benefits and coverage for funeral expenses and disabilities.
Reasons To Get Car Insurance
There are two main reasons people purchase car insurance:
- It is required by law
- It helps protect them and their finances and property
Depending on your preferences and needs, you may choose to purchase just the minimum required insurance coverage or to buy additional coverage. Comprehensive insurance and collision or upset insurance are popular additional coverage choices for people living in New Brunswick.
Common Types of Car Insurance in Moncton
Comprehensive Insurance
This optional coverage is designed to protect you from non-collision damage caused to your vehicle, including:
- Damage to windows and windshields
- Damage due to accidents caused by natural phenomena, such as animals and weather
- Fire damage
- Theft and vandalism
Collision or Upset Insurance
Collision or upset insurance is similar to comprehensive insurance, protecting you from damage caused to your vehicle. Unlike comprehensive insurance, collision insurance is designed to protect you in situations where your car hits another car, such as collisions with stationary objects or other vehicles.
All Perils Insurance
All perils insurance, sometimes called all-risk insurance, combines the protections offered by comprehensive and collision or upset insurance. All perils insurance can cover almost any event, as long as the policy doesn't explicitly exclude it.
Specified Perils Insurance
This type of insurance protects you against specific types of peril and damage. Eligible perils must be defined and listed in your policy. If your policy does not include a type of risk or damage, then your insurance will not cover it.
Underinsured Motorist Insurance
Not every driver has adequate insurance coverage. Underinsured motorist coverage is meant to protect you if you're involved in an accident with a driver whose insurance coverage doesn't cover your claim.
Uninsured Motorist Coverage
Uninsured motorist coverage is similar to underinsured motorist coverage by protecting you if you're involved in an accident with a driver who is uninsured or if you're in an accident caused by a hit-and-run, where you don't have access to the other driver's insurance information.