New Brunswick Auto Insurance

For years, New Brunswick has enjoyed a really low auto insurance rate, one of the lowest in Canada, thanks to the insurance reforms of 2003. However, several metrics indicate that the auto insurance rate in the province is likely to rise. New Brunswick auto insurance rate has not increased since 2012 but auto insurers in the province made 62% more claims corresponding to $144 million from 2012 to 2017. As a result, insurers are requesting for some of the steepest rate hikes in 16 years.

Although the insurance rates are expected to rise, the amount you actually pay depends on you and how you shop for coverage. Insurdinary can help you to reduce the amount you pay in auto coverage by connecting you to insurance advisors.

To learn more about New Brunswick auto insurance, click here.

Drivers in New Brunswick are required to have $200,000 in third-party liability insurance on their vehicles before they can be allowed to register their vehicles in the province. They are also required to hold direct compensation property damage (DCPD) coverage. This provides coverage for damages done to a vehicle if another driver is at fault for an accident. It is also required that drivers hold unidentified and uninsured insurance in New Brunswick. This provides coverage for when you are involved in an accident with an uninsured driver or the driver cannot be identified.

Information regarding the driver, his driving habit and also the vehicle determine the New Brunswick insurance rate.  The factors considered by insurance companies to determine New Brunswick auto insurance rate are outlined above.

Due to the 2003 New Brunswick auto insurance reforms, certain factors no longer affect your insurance rate and insurance companies cannot deny you coverage based on such factors. These include:

• Your age
• Marital status
• Your vehicle’s age
• Your previous insurance history through a high-risk insurance company.
• Insurance lapse below two years except it involves license suspension.

New Brunswick operates a no-fault system in property damage claims. This means that your insurance company will pay the cost of your vehicle repairs no matter the person at fault in an accident. The accident benefits are paid with the liability coverage for the at-fault driver. The New Brunswick Fault Determination Rules established in the Insurance Act establish how fault is determined.

Drivers in New Brunswick are required by law to carry the legal minimum coverage and a proof of the insurance. Law enforcement agents will always require drivers to provide proof of insurance or face legal consequences. Drivers are also required to obey the rules of the road every time. Drivers must also stop when involved in an accident and they are required to stop for law enforcement.