Why Purchase Moncton Car Insurance
There are many reasons that Moncton drivers choose to purchase car insurance, from protection to peace of mind. We outline a few of these reasons below:
You Are Protected in Case of Bodily Injury
If you are injured in a car accident, Moncton auto insurance can help. Even the most basic car insurance plans in New Brunswick provide financial protection against bodily injury. So if you or someone else involved in the collision requires medical attention, your insurer may help pay for the costs of care. For example, your insurance provider can help you pay for medical expenses not covered by your health insurance policy, like prescription medications, rehabilitation, or physical therapy.
You Are Protected in The Event of an Accident
Car accidents happen, and they can have serious repercussions. But with a Moncton auto insurance policy, you will be protected from the financial ramifications of an accident. This is because many standard car insurance plans cover the cost of repairing or replacing your car if it is damaged in an accident. For extra protection, consider adding collision coverage to your policy.
You Are Protected Against Theft
If you choose to include comprehensive insurance with your Moncton car insurance policy, your vehicle may also be protected in the event of its theft. Comprehensive coverage is a type of optional insurance coverage available to New Brunswick drivers. This type of coverage can protect Moncton drivers against many kinds of non-collision events. Should you include collision coverage, you may be protected against damage caused by insured perils like theft, vandalism, floods, falling objects, earthquakes, hurricanes, and more. Plus, by adding comprehensive car insurance (also known as parked car insurance) to your policy, your car will be protected both when it’s both parked and in motion.
You Are in Compliance With The Law
One final reason to purchase Moncton car insurance is that it puts you in compliance with provincial law. Auto insurance is mandatory throughout New Brunswick, and driving uninsured is not only dangerous but can result in fines, jail time, and the suspension of your driver’s licence. Avoid these consequences by purchasing an auto insurance policy that meets the minimum requirements set by the provincial government of New Brunswick.
Mandatory Car Insurance in Moncton
As mentioned above, car insurance is a legal requirement in the province of New Brunswick. So, whether you live in Moncton, Fredericton, or Saint John, you must have a valid, up-to-date auto insurance policy at all times. To drive in Moncton, you must also hold a valid driver’s licence and register your vehicle with the Department of Transportation and Infrastructure. Proof of insurance is required to register your vehicle with the province.
It’s worth noting that when purchasing car insurance in Moncton, you must ensure your policy meets the minimum requirement set by the province. In New Brunswick, basic car insurance coverage includes uninsured automobile coverage, direct compensation coverage, accident benefits coverage, and a minimum of $200,000 in third party liability coverage (though many drivers choose to purchase a higher coverage limit than this).
The Consequences of Driving Without Insurance in Moncton
Since auto insurance is mandatory in New Brunswick, driving without insurance is illegal. If caught doing so, you can be slapped with serious fines. Specifically, uninsured motorists in Moncton, New Brunswick can be fined anywhere between $200 and $5,000. Beyond fines, drivers may also face jail time or have their driver’s licences temporarily suspended.
Given the serious ramifications of driving without insurance in New Brunswick, we recommend purchasing a valid car insurance policy if you do not already have one. Contact BrokerLink to purchase auto insurance today. We can help you choose a policy that complies with New Brunswick provincial law, and also meets your lifestyle and budget.
Mandatory Coverage in New Brunswick
Moncton drivers must have car insurance policies that meet the minimum coverage requirements set by New Brunswick’s provincial government. Standard car insurance policies in New Brunswick are those that meet these minimum requirements. In New Brunswick, mandatory coverage includes the likes of third-party liability coverage, accident benefits coverage, direct compensation - property damage coverage, and uninsured automobile coverage. The BrokerLink team breaks down each type of mandatory coverage for Moncton drivers below:
Third-party Liability Coverage
Third-party liability coverage provides protection if you get into an accident that injures another person or results in property damage to another person’s property. Under this portion of your policy, you can receive compensation to pay for medical expenses associated with bodily injuries or repairs of a damaged car, as well as any legal fees or court fees up to the coverage limit. All New Brunswick drivers are required to purchase auto insurance policies with no less than $200,000 in third-party liability coverage.
Direct Compensation - Property Damage Coverage
Direct compensation - property damage coverage protects an insured car and its contents from the costs of property damage. This type of coverage only applies if the policyholder is not at fault for the accident that caused the damage. Direct compensation coverage gets its name from the fact that the insurer typically provides direct payment for the damage caused (such as to repair or replace a vehicle).
Uninsured Automobile Coverage
Uninsured automobile coverage protects you and any passengers in your vehicle if you get into an accident with an at-fault driver who is uninsured or underinsured. This type of coverage also protects against hit-and-run incidents. Uninsured automobile coverage covers medical expenses relating to injuries, car repairs due to damage, lost wages, and more.
Accident Benefits Coverage
If you, a passenger, or a pedestrian requires medical attention following a collision, accident benefits coverage comes in handy. Protection is offered regardless of which party was at fault for the collision and can help cover loss of income, medical expenses, such as prescription medications, physical therapy, or rehabilitation, and more.
Optional Auto Insurance Coverage in Moncton
Although Moncton drivers are legally required to purchase the auto insurance coverages listed above, these are not the only types of coverage available to them. Insurance companies typically offer several optional types of coverage, that includes collision coverage, comprehensive coverage, and accident forgiveness coverage. Depending on your vehicle and circumstances, you might find any and all of these optional coverages to be worthwhile. We outline each type of coverage and how it can protect you below:
Collision Coverage
If you get into an accident with another car or object on the road, no matter which driver is at fault for the accident, collision coverage can help cover the costs. Under the collision coverage portion of your policy, your insurance company can help pay for any property damage that resulted from the collision, such as a damaged vehicle.
Comprehensive Coverage
For added peace of mind, Moncton drivers may choose to include comprehensive coverage in their car insurance policies. While standard auto insurance coverage in New Brunswick provides some protection against accidents, it does not protect drivers from many other circumstances on the road. For example, if your car is stolen, basic car insurance won’t cover this. But if you purchase comprehensive coverage, you can be protected against perils such as theft, vandalism, water damage, falling objects, fire, and more. This means that in the event of theft, your insurance provider would help cover the costs of replacing it, rather than having to pay for a new one entirely out-of-pocket.
Accident Forgiveness Coverage
One final type of optional car insurance coverage popular among Moncton drivers is accident forgiveness. Accident forgiveness is additional coverage that can be added to your car insurance policy as an endorsement, to protect your driving record and to help prevent your insurance premium from increasing if you have an at-fault accident claim. Note: coverage varies by province.
How Moncton Car Insurance Rates are Calculated
Moncton drivers might be curious to know how car insurance rates are calculated in New Brunswick. The reality is that insurance providers take a multitude of factors into account when calculating insurance premiums. To help Moncton drivers better understand their rates, the experts at BrokerLink compiled the following list of factors that impact car insurance premiums:
- Where you live (and work - if you drive to work)
- Age
- Make, model, and year of the vehicle
- Claims history
- Annual mileage
- Driving experience
- Driving record
- Prior insurance coverage
- Your deductible
- Local laws
- How you use your vehicle
- Gender
- Marital status
Please note that insurance companies are responsible for calculating auto insurance rates - not insurance brokers. While insurance brokerages like BrokerLink do not determine your insurance premium, they can help you find the best coverage at an affordable rate. We can also make you aware of car insurance discounts you didn’t know you were eligible for and shop around on your behalf, creating an entirely hassle-free car insurance experience. To get started with an insurance broker in Moncton, contact BrokerLink today.
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How to Save Money on Moncton Car Insurance
Auto insurance doesn’t have to break the bank. BrokerLink is here to ensure you never overspend on car insurance again by helping you find a competitive rate. Our knowledgeable insurance brokers will unlock car insurance discounts you didn’t even know you were eligible for and are always happy to share tips for saving money on Moncton car insurance, like those below:
Increase Your Policy Deductible
One way to save money on Moncton car insurance is to increase your policy deductible. It is a general rule of thumb in the insurance industry that increasing your policy deductible will lower your insurance premium. By raising your car insurance deductible by as little as $500 or $1,000, you could save a significant amount of money. However, you should only increase your deductible if you can afford it. Contact BrokerLink to speak with an insurance advisor and learn more about the impact of increasing your Moncton auto insurance deductible.
Pay For Your Moncton Car Insurance Policy Annually Rather Than Monthly
Another way to save money on car insurance in Moncton is to pay for your policy annually rather than monthly. Insurance companies often give policyholders the option of paying for their policy yearly or monthly. Although the latter might seem more attractive, it usually ends up being more expensive. This is because insurers often charge administrative fees every time you make a payment. Therefore, the fewer payments you make, the less money you will pay. For this reason, we recommend paying for your Moncton car insurance policy annually rather than monthly if you want to save money.
Bundle Multiple Insurance Policies Together
Another way to save money on Moncton car insurance is to bundle multiple insurance policies together. Insurance providers like to reward customers who buy more than one insurance product from them. Therefore, if you are looking to insure multiple cars in your household (e.g. your car and your spouse’s car), or buy car insurance on top of another type of insurance, such as business insurance, home insurance, or recreational vehicle insurance, buying it all from the same insurance company could make you eligible for a discount. Discounts vary by insurance provider but they could be as high as 15% off each policy. Contact BrokerLink to learn more about the auto insurance savings that may come with bundling policies.
Install Winter Tires on Your Vehicle
Installing winter tires on your vehicle is another money-saving tip. Though snow tires are not mandatory in New Brunswick, installing them on your car can make you eligible for an auto insurance discount of up to 5%. This is because insurance companies recognize that snow tires have superior capabilities during the winter, thereby reducing your odds of getting into a collision during the cold months. If you want to learn more about winter tire car insurance discounts in Moncton, call BrokerLink and speak to an insurance advisor today. One of our brokers can inform you about the specific conditions that must be met to qualify for a winter tire discount in Moncton (e.g. some insurers might stipulate that all four winter tires must be the same model or that the tires must remain on your vehicle for a set time period).
Buy a Hybrid or Electric Vehicle
Buying a hybrid or electric vehicle (EV) is another tip for saving money on car insurance in Moncton. Many auto insurance companies in New Brunswick have begun offering discounts to drivers of hybrid or electric vehicles as a way of incentivizing them to go green. Therefore, driving an EV may not only save you money at the gas pump, but it can also save you up to 10% on a Moncton auto insurance policy.
Enrol in an Approved Driving School in New Brunswick
Enrolling in an approved New Brunswick driving school or program is one final way for drivers (especially young drivers) to save money on Moncton auto insurance. Graduating from a recognized driving school can make you eligible for a car insurance discount. This is because insurance companies recognize that taking driving lessons from a professional makes you a better, more responsible driver, and therefore decreases your odds of getting into an accident.
Three Tips for Young Drivers in Moncton
Driving for the first time can be scary. But practice is key to developing responsible driving habits. The BrokerLink team has put together a list of tips for young drivers in Moncton to help them improve their driving skills:
Slow Down
The first driving tip is to drive slowly. The slower you drive, the less likely you are to get into an accident because you will have more time to react. So obey the speed limit at all times and never rush when accelerating, braking, turning, parking, or changing lines. We also recommend driving below the speed limit when you are driving in certain conditions, like inclement weather (e.g. fog, rain, and snow), at night when visibility is reduced, and through a construction area or busy pedestrian zone.
Leave Lots of Space Between Yourself and Other Vehicles
Leaving lots of space between your vehicle and the other vehicles around you is another important driving tip for young Moncton drivers. Experts recommend two car lengths’ worth of space between your vehicle and the vehicle in front of you on a regular road and four car lengths on a highway (higher speeds require more space). Leaving space will give you more time to react or stop suddenly if needed and can ultimately help prevent collisions.
Avoid Distracted Driving
Lastly, young drivers in Moncton should take care to avoid distractions while driving. Though it can be tempting to text and drive (which is illegal) or sip on a drink, doing so considerably increases your chances of getting into an accident. In fact, distracted driving is one of the leading causes of automobile accidents in the country. Therefore, we suggest putting your phone away, finding a radio station before pulling out of the driveway, and finishing any snacks or drinks before taking the vehicle out of park. This way, all of your focus will be where it should be - on the road.
Working With a Licensed Insurance Broker Can Help you Find the Right Coverage
If you want to find great coverage at a competitive rate, look no further than BrokerLink. As car insurance experts, we can help you find a policy that meets your needs in no time. On the fence about working with a broker? Check out this list of reasons to enlist the help of an insurance broker below:
Brokers operate independently of insurance companies
Insurance brokers like BrokerLink operate independently of insurance companies. This allows us to put our customer’s needs first. We promise to take the time to understand your insurance needs so that we can find the right coverage for you.
Brokers do the work for you
The second reason to work with a BrokerLink insurance advisor is that they take care of everything. Rather than spending your free time scouring the internet for a policy, you can let us handle it. While you relax, we will contact insurance companies and compare policies on your behalf.
Brokers have car insurance expertise
Finally, insurance brokers have unparalleled car insurance expertise for you to benefit from. All BrokerLink insurance advisors are fully licensed with years of experience helping Moncton drivers just like you find quality car insurance policies.
We’re in your community
Getting involved in the community is a big part of who we are. We live and work in your community. We love meeting our neighbours!
Local New Brunswick Insurance Links
If you’re a member of a group or association, you may be eligible for more discounts.
Contact us
At Moncton BrokerLink, we’re here to help you with any insurance needs you may have. Whether it’s insuring your home, car, business, recreational items, or pets, let us help you find the best coverage possible.
You can reach us by phone, email, or in person at any one of our locations throughout New Brunswick. No matter how you choose to get in touch, a BrokerLink insurance advisor will be happy to assist you. We also encourage you to take advantage of our free online quote tool that can provide you with a competitive quote in minutes.
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