The Price of Car Insurance in Nova Scotia

Car Insurance Rates Across Canada

Even though the prices in Nova Scotia are much less than the vast majority of the nation, you still deserve to discover the cheapest rate plan available. The average car insurance rate in this state is around $91 a month, or $1,093 each year. This is compared to the average rates in Alberta, which are now sitting at about $114 a month, or $1,371 each year. Worse still, paying the average car insurance rates in Ontario will set you back about $160 per month, or $1,916 each year.

As with the majority of Canada, youthful drivers in Nova Scotia will often pay more than older adults. The state’s young adults – between 25 to 30 years old – will cover an average of $103 a month, or $1,241 annually in auto insurance. Those between 46 and 50 years old pay an average of $81 per month, or $976 per year, while older adults – between 61 and 65 years old – pay very little, at an average of $73 per month, or $878 each year. Nova Scotia’s youngest drivers (below the age of 25) cover the most, with an average car insurance rate of $210 per month or $2,522 each year.

Age is not the sole factor that affects your car insurance rates – your sex does as well. Typically, men pay about $94 a month in auto insurance, while girls often pay approximately $88 per month.

Cheapest Car Insurance Rates in Canada

Nova Scotia ranks 5th for getting the cheapest premiums on automobile insurance in Canada. Most people in the state do not have to pay far greater than the cheapest premiums available in the nation. There’s only a $59 gap between the cheapest car insurance available in Canada and the average cost for auto insurance in Nova Scotia. All five of the most economical car insurance choices in the nation come from less populated states. The difference among the most populated and least populated of the top five cheapest options (excluding Quebec) is just 955,445 people. As a result of their similar population sizes, the car insurance premiums one of those countries is also quite close.

Nova Scotia Car Insurance Coverage Options

It’s interesting to take a closer look at the policy selected most frequently by drivers in Nova Scotia:

• People who select the most minimal automobile insurance permitted by law pay approximately $69 a month in premiums. This sort of coverage does not cover any damages to your own vehicle, but it does cover the costs accumulated by a third party if you are involved in an accident. This sort of coverage would do the job for you in the event that you have an older car that you wouldn’t look at repairing if it were to become damaged.
• If you are leasing a car, you need more than just the bare minimum policy, and you need to check into medium-level coverage that provides liability, collision, and comprehensive damage coverage. This sort of policy will set you back about $93 a month.
• Coverage over this level often includes more comprehensive policies which have accident benefits coverage at much greater than the normal car insurance policies in Nova Scotia. Prices of those policies grow to $104 a month, as a result. Since there’s a relatively small gap between moderate and extensive coverage, it’s worth your while to consider extensive car insurance coverage. Saving just a couple dollars is not worth the extra risk for you or your loved ones.

Your driving record has a large effect on your insurance premiums. If you do not have any offenses within the previous six decades, you may easily receive reduced prices as cheap as $84 a month or $1,002 per year on car insurance. Having a maximum of two violations in the past 3 years makes your car insurance premiums grow exponentially, to about $189 a month, or $2,273 annually for car insurance.

What You Will Need for Coverage in Nova Scotia

In Nova Scotia, it’s compulsory for drivers to have $500,000 in the third-party liability policy, at least $50,000 in medical payment coverage, and $2,500 in funeral cost coverage. You’ll also need $250 per week to get disability insurance. As a law in Nova Scotia, you can’t sue for over $8,123 in suffering and pain brought on by major injuries. This rule really saves insurance companies money, allowing the state to have a normal insurance premium as low as $783.