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Have a question about car insurance coverage, claims, deductibles, premiums or discounts? Check here for the answer:
You are on: Coverage, Claims, Deductibles
Sometimes known as "first party insurance," the "no fault" system has been instituted in several provinces in an effort to:
Under the "no fault" system, everyone involved in an accident submits a claim to their own insurance company. This means that if another person is at fault for an accident, you would still submit your claim to your own insurance company. Additionally, if you are not at fault but had to pay a deductible, your insurance company may seek to recover your deductible from the at-fault driver's insurance company.
Every car insurance policy includes protection against third-party liability—and for good reason. Liability coverage, also called third-party or civil liability coverage, helps protect you financially if you or another driver on your policy are found legally liable for injuring someone or causing damage to another person's property or automobile while operating a vehicle. In this type of situation, your insurance would pay any legitimate claims against you up to the limits of your liability coverage and also pay for expenses related to settling the claims.
While every province requires a certain amount of liability coverage, the minimum amount required is unlikely to be enough if the courts order you to pay a substantial amount of money in damages.
Tip: At RBC Insurance, we strongly recommend that you purchase at least $1 million in coverage. Plus, if you are leasing or financing a vehicle, your leasing company or lien holder may require at least that much coverage to protect their interests.
Collision coverage helps pay for the cost of repairing or replacing your vehicle up to the actual cash value if it hits another vehicle, the ground, or an object in or on the ground (such as a guard rail).
Comprehensive coverage helps pay for the cost of repairing or replacing your vehicle up to the actual cash value if it is damaged by unexpected situations such as falling or flying objects, vandalism, fire, theft or attempted theft, a natural disaster, or a riot or civil disturbance (but not collision).
Tip: Although collision and comprehensive coverage are optional by law, your vehicle's leasing or financing company (if applicable) may require that you have it. We also recommend that you purchase both of these coverages unless your car is very old—and not worth more than a couple thousand dollars—or you can afford to pay out-of-pocket whatever amount might be required to repair or replace your vehicle.
In addition to collision and comprehensive coverage, which are recommended for most situations, there are two other coverages known as All Perils and Specified Perils.
Also called "riders," endorsements are additional (sometimes optional) enhancements that allow you to customize your car insurance policy by increasing or even reducing the amount of insurance coverage you would receive in special situations.
One example of an endorsement is the popular Family Protection endorsement, which provides significant financial protection—up to the limits of your liability coverage—if you or your eligible family members are injured or killed in an accident caused by an uninsured, under insured or unidentified (e.g. hit and run) at-fault motorist.
A claim is a request to an insurance company for payment for loss, damage or injury as covered in an insurance policy.
Your deductible is the amount of money you are required to pay out-of-pocket towards any claim you make under your car insurance policy.
For example: If your vehicle sustains $2,000 worth of damage in an accident and your collision deductible is $500, then you would be responsible for paying the first $500 and your insurance company would pay the remaining $1,500.
You can choose a different deductible amount for your collision coverage and your comprehensive coverage.
Tip: If you can afford to make a higher out-of-pocket payment in the event of a claim, then choose a higher deductible. You'll pay a lower premium as a result.
Yes. Since your driving record affects your car insurance coverage and premium, your insurance company needs to know the facts of your accident.
Furthermore, if you were involved in an accident with another vehicle, the driver of that vehicle may claim from his or her insurance company—who will, in all likelihood, communicate with your insurance company about the accident. It is important to note that not all accidents will result in premium increases.
Moving—even within the same town or city—can affect your car insurance premium, so be sure to call us at 1 877 749-7224 before your moving day.
Also keep in mind that car insurance laws are different in every province. If you're moving to a different province, let us know and we will help make sure your policy complies with the laws in your new province(10).
For details, please see How to File a Claim on Your Car Insurance.
You are on: Vehicles and Insurance
Yes, particularly if they're less likely to be stolen or, statistically, less likely to be involved in an accident. Vehicles that are less expensive to repair will also typically cost less to insure.
Tip: If you're shopping for a new car and are looking for the better insurance value, we can give you a no-obligation quote for each of the models you're considering.
Yes. We offer coverage for all kinds of personal (private passenger) vehicles, including:
For more information, see:
Yes. If you own a vintage vehicle that is over 25 years old, with antique or historical licence plates, the Advice Centre can offer you special coverage and a price to reflect your needs. We'll be pleased to give you your quote over the phone—just call 1 877 749-7224.
You are on: Insurance Premiums
Because each person's situation is unique, there isn't a single answer to this question. However, using statistics and complex formulas, insurance companies usually calculate your car insurance premium by taking into account where you live, the type of vehicle you drive (and how you use it), your driving and claims record, other drivers on your policy and the amount of coverage you want.
For more details, see How Your Car Insurance Premium is Calculated.
You have several ways to save on your car insurance.
Depending on the province you live in(10), there are some discounts that may apply to you automatically—for example being claims-free for a certain time period or qualifying as a mature or experienced driver.
In other cases, there are specific things you can do to qualify for other potential discounts. This includes:
Looking for other ways to save money? See How to Save Money on Your Car Insurance.
Most likely, yes. Your driving record is one of the factors insurance companies consider when calculating your car insurance premium. The more experienced you are and the fewer claims and accidents you've had, the lower your premium is likely to be.
We are sorry, but government regulations prohibit us from extending lower prices exclusively to RBC Royal Bank® customers. However, we strive to offer you competitive car insurance rates, as well as numerous opportunities to save. Get a quote today and see for yourself.
You have several choices for paying your car insurance premium:
For more details, see Ways to Buy Your Car Insurance.
Many people prefer the convenience of making automatic monthly premium payments directly from their chequing accounts. To take advantage of this easy payment option, all you need to do is give us your bank's transit and institution number, as well as your account number (a void cheque is not required) when you complete a pre-authorized chequing payment form. You can even choose the date you'd like your account to be debited each month.
You are on: Provincial Auto Reforms for Primary tabs
Find out more about the June 2016 Ontario auto reform on our detailed website created specifically to help you understand the changes that took place.
Phase 1 of the reform provides Nova Scotia drivers with higher standard limits for mandatory accident benefits to better protect them in the event that they are injured in an accident. It also includes insurance premium protection for at-fault accidents where no money was paid by an insurance company.
To ensure that Nova Scotia’s auto insurance system meets the needs of today’s families, the provincial government of Nova Scotia introduced auto reforms that will be phased in, with Phase 1 becoming effective April 1, 2012 and Phase II becoming effective, a year later, April 1, 2013. These insurance reforms provide better coverage and more choice for Nova Scotia drivers while striking the right balance between fairness, stability and affordability.
Find the full details on the upcoming auto insurance reforms at the following provincial government website:
Under the new reforms, Nova Scotia drivers will automatically have higher standard limits for mandatory accident benefits. Drivers will not have the option to increase or decrease these standard limits.
There is no increase to premiums as a result of the auto reform for this phase.
We want you to feel confident that you and your family have the protection you need. Accident benefits coverage under your auto insurance policy may cover you if you sustain an injury or fatality, but only in the event of an automobile accident. There are other insurance options that you can consider depending on your personal circumstances. For example you may find it valuable to carry stand-alone life and disability insurance to provide full protection. With the announced changes to auto insurance, now is a good time to review your overall insurance needs.
Speak to one of our licensed RBC Insurance® advisors today.
Direct Compensation for Property Damage coverage is introduced to Nova Scotia automobile insurance as part of the Phase II reforms. This system is in place and works well in Ontario, New Brunswick and Quebec.
Direct compensation for property damage coverage applies in case of damage to your automobile, its equipment or contents, resulting from an automobile accident caused by another party. It is called direct compensation because it allows you to be compensated by your own insurer for such property damages, even though you, or anyone else using or operating your automobile with your consent, were not entirely at fault for the accident.
DCPD coverage is automatically included in your insurance protection but applies only to accidents that occur on or after April 1, 2013. Working with your own insurer allows you to complete the claims process more efficiently following an automobile accident and get appropriate compensation quickly.
As a result of government-run auto insurance plans, RBC Insurance does not offer car insurance in Manitoba, Saskatchewan and British Columbia.