Car Insurance in New Brunswick

Guide to Car Insurance in New Brunswick

If you like saving money you've come to the right place.

Welcome to Kanetix.ca. As Canada's premier online insurance comparison company, we help drivers in New Brunswick save time and money by getting you quotes from multiple leading car insurance providers at the same time. There's no need to enter your information more than once. Finding the lowest rate is simple, fast and free with Kanetix.ca.

• Comparisons are also available for Ontario car insurance, Alberta car insurance, Quebec car insurance, Nova Scotia car insurance and PEI car insurance.

Get The Lowest Auto Insurance Rates in New Brunswick

Many people don't give enough thought to their auto insurance. Because it's mandatory to have insurance in order to legally drive a vehicle in Canada, it's easy to purchase the first policy you see and forget about it. Because of this, you could be overpaying on your auto insurance by hundreds of dollars a year!

Average car insurance rates in New Brunswick currently sit around $1,020 per year. These rates are lower than other parts of Canada, but that doesn't mean you can't get a better deal. 

Here's how New Brunswick auto insurance rates compare to other parts of Canada. These rates are based on a 35-year old driver with a clean driving record.

If you're paying more than this, then it's time to shop around. Even drivers paying less than the provincial average have the potential to save money on their car insurance.  The rest of this guide will tell you how. 

When to Shop Around For Auto Insurance in New Brunswick

Renewal is the perfect opportunity to compare rates and save money. Just because your current company gave you a good rate last year doesn't mean they'll give you the best rate this time around. Insurance rates often change, so it's important to do your due diligence and shop around for a better deal.

Renewal time isn't the only time you should compare your New Brunswick auto insurance rates. Other times to compare auto insurance rates include:

• When you move
• When you're adding a new driver to a policy
• When you get married
• When you get divorced
• When you change jobs
• When you retire
• When you get a ticket or are involved in a collision
• When you buy a new car

In fact, this last point is one of the best times to compare rates. The type of vehicle you drive has a big influence on how much you pay for your car insurance. While there are other variables, the make and model of your vehicle can especially influence your rates if you drive a model that is more susceptible to auto theft.   

The following articles will help you make a more informed car buying decision so you can minimize your insurance costs.

• Top 10 Most Stolen Vehicles in Canada
• Which Cars Hold their Value the Best?
• Canada's Best SUVs: Top Selling 10 SUVs In Canada
• Best-Selling Minivans in Canada
• Top 10 Trucks In Canada
• Top 10 Cars In Canada

If you are debating between a few models, Kanetix.ca's car comparison tool lets your compare average insurance costs for multiple vehicles simultaneously.

How New Brunswick Auto Insurance Is Calculated

In addition to the type of vehicle you drive, your insurance premiums are also calculated based on:

• Your personal driving record and insurance history including any tickets, collisions, convictions, suspensions, or lapses in coverage
• Past claims
• Number of years licensed
• How much insurance you have (more on that below)
• If you have elected for optional additional coverage
• Eligible discounts
• If you have an occasional operator on your policy
• Vehicle use - the time of day you drive, how often you drive it and where
• Your insurance provider's claims history
• Where you live (different territories have different claims experience)

Auto Insurance Coverage in New Brunswick

In New Brunswick, it is mandatory for drivers to have at minimum the following coverage:

• Third Party Liability - Covers you if you are responsible for injuring someone or damaging someone's property with your car. Minimum required coverage is $200,000, but most drivers in New Brunswick opt for more.
• Direct Compensation - Property Damage (DC-PD) - Covers damage to or loss of your vehicle or its contents when another person is at fault in a collision. Even though you're not responsible, you still collect compensation directly from your own insurer. Certain conditions apply.
• Accident Benefits - Covers medical and rehabilitation costs, funeral benefits, death benefits, and loss of income if you or your passengers are injured in a collision. As a "no-fault" coverage, you are protected even if you are at fault.
• Uninsured and Unidentified Insurance - Covers you in the event you are injured in a collision by an uninsured drive, or if you are involved in a hit-and-run and the vehicle or driver cannot be identified. Damage to your vehicle is also covered, subject to a deductible.

The following optional coverage is also available:

• Collision or Upset Insurance - Pays for losses related to a collision with another object (including another vehicle) or rolls over. May be subject to a deductible.
• Comprehensive Insurance - Covers damage to your vehicle resulting from theft, vandalism or file. May be subject to a deductible.
• Depreciation Waiver Coverage - Covers the full value of your car without depreciation-even if you haven't fully paid it off yet-if it is written-off in an accident within the first 24 months of the original delivery date. If your car can be safely repaired, this insurance covers that too.

As for your personal possessions, those are typically covered under your home insurance or tenants insurance policy rather than your auto insurance policy. As with any insurance policy, always check with your provider to ensure you know exactly what you are and are not covered for.

How Auto Insurance Works in New Brunswick

The Financial and Consumer Services Commission oversees auto insurance licensing and regulation in New Brunswick, ensuring that insurers and insurance intermediaries are legal and compliant. The New Brunswick Insurance Board (NBIB), on the other hand, oversees rate regulation and processes all rate change requests.

NBIB's website reminds consumers that "you're in the driver's seat" when it comes to your auto insurance. With more options than ever before, drivers should shop insurance products regularly to take advantage of lower rates.

Keeping Your Car Insurance Rates Low

Comparing quotes is the easiest way to immediately save money on your New Brunswick auto insurance, but there are other ways to keep costs low as well. Of course, the best way to keep your rates low in the long run is to maintain a clean driving record.

The following articles provide additional tips and insights into how you can get cheaper auto insurance rates right now and avoid premium increases.

• Five Bad Driving Habits That Could Cost You
• 15 Ways To Save On Insurance
• 5 Unexpected Things That Can Affect Your Car Insurance

Why wait to save? Compare New Brunswick car insurance quotes today so see if you could be getting a better rate.