Guide to Buying Car Insurance in Truro, NS

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Being a resident of Truro, you have been enjoying the wallpaper lifestyle in one of the Atlantic provinces of Canada. Well, driving in Nova Scotia happens to be a pleasure for car owners. As a responsible driver, you must know about the mandatory insurance requirements in the province.

Having a lapsed car insurance in Truro or failing to insure your vehicle altogether can invite trouble. While first-time offenders need to shell out $1,250 as a fine, repeat offenders would repent paying higher amounts up to $5,850. Moreover, the Registry of Motor Vehicles can even suspend your driving license if you drive without insurance. 

So, why take the trouble and land in a legal mess when you have affordable policies to purchase? Insurance brokers can help you find cheap policies in Nova Scotia by comparing multiple quotes. Let’s explore how you can find the best insurance policies in Truro, Nova Scotia.

Mandatory types of car insurance in Truro

In Canada, different provinces have their individual insurance regulations. So, you will find specific requirements in certain provinces, while others don’t require them. Since Truro is a town in Nova Scotia, we have outlined the insurance coverage that your car would need in this province.

Direct compensation to third parties: When you are at fault in an accident and cause damage to the properties of another party, your direct compensation coverage will help you compensate for the losses.

Accident benefits coverage: This coverage helps you pay for the medical expenses for treatment or surgeries following an accident. Regardless of the party at fault, you can claim the benefits.

Uninsured and unidentified insurance coverage: At times, you might not be at fault. However, the at-fault driver might not have adequate coverage to compensate for your losses. In these situations, you would find this coverage helpful. Also, if the at-fault driver flees the site of the accident, you can count on this policy to get your losses compensated for.

Liability coverage: This type of coverage would financially assist you if you happen to damage any property or injure someone in an accident. Your insurance company would bear the financial expenses on your behalf.

Which optional insurance coverages should you get?

Besides Truro’s mandatory coverage, insurance advisors recommend vouching for some optional policies too. These include:

  • Collision coverage
  • Comprehensive coverage
  • Specified perils
  • All perils
  • Depreciation waiver
  • Accident forgiveness

Now, you might not need all these privileges. To keep your premiums affordable, it’s imperative to choose the coverages that you can benefit from. For instance, if you are a new driver, you might need accident forgiveness. Likewise, if your car is old enough, you should keep away from additional benefits like depreciation waiver and collision coverage.

Also, you need to be diplomatic while choosing the perils while insuring your vehicle. There’s no point paying a premium for a peril that won’t affect your car. Depending on your demographics, insurance brokers will recommend you a tailored policy.

How much is the average car insurance premium in Truro?

Given that Truro is a town in Nova Scotia, drivers enjoy low automobile premiums. The average premium comes to $800 to $900 annually. If you are paying your premiums monthly, the amount comes to somewhere around $75.

Thankfully, residents in Truro enjoy paying one of the lowest premiums in Canada. However, insurance brokers can help you further reduce your premiums once you reach out to them.

What documents do you need to purchase car insurance?

When you consult reputed brokers to purchase your car insurance in Truro, they recommend you furnish the following documents.

  1. Driving license

When you purchase a new policy or renew your old car insurance scheme, ensure that your current address appears on your driving license. Provide other personal details such as your phone number and date of birth. If you add other drivers to the insurance, such as your spouse or any other family member, you need their license and personal details as well.

  1. Description of the vehicle

As part of the car’s description, you need to provide details about the vehicle’s year, model, make, and VIN. Have a look at the odometer readings. Although these details look minute, the cumulative impact on your premium can be sizable.

  1. Driving record

Your insurer would ask whether or not you had any traffic violation record. Provide relevant details regarding this considering the last three years. Your insurer won’t factor in the parking tickets but would definitely consider the number of claims you made during this period. If you were at fault during a collision, you might pay higher premiums for the next six years.

How do insurers calculate your premium?

When you purchase auto insurance in Truro, top insurers calculate your premium based on the following aspects.

Your age: Teenagers and new drivers need to pay higher premiums since they carry a high-risk profile. Insurers consider them risky drivers as they are more aggressive and inexperienced at the wheel.

Your location: If you reside in densely populated urban areas, you must navigate congested roads. This increases your chances of accidents or bumping against other cars, thereby increasing premiums.

The vehicle: The price of the vehicle depends on its make and model. Accordingly, the insurers calculate the compensation you might need following an accident, theft, or other damages. Luxury vehicles are expensive and involve higher premiums.

Driving record: Keeping your driving record clean without any ticket or conviction portrays you as a responsible driver. Naturally, insurers would be impressed with your profile and keep premiums low.

Your gender: Male drivers have a greater risk of exposure to accidents. Therefore, female drivers tend to pay lower premiums compared to men.

Endnote

Now that you are ready to purchase your car insurance, you would land in a dilemma with dozens of insurers offering multiple policies. Consult one of the leading automobile insurance brokers in Nova Scotia to find affordable policies. The professionals will help you benefit from discounts and deals that established insurers roll out. With professional guidance, you can get your vehicle adequately covered.