Cheap Car Insurance Nova Scotia

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Drivers in Nova Scotia benefit from some of the lowest car insurance premiums in the country. These affordable insurance rates can be attributed to government-led car insurance reforms. Before private insurance companies can set their rates, they must first be approved by the Nova Scotia Insurance Board (NSIB), which is in place to advocate for the drivers in Nova Scotia and ensure that rates are kept at a reasonable level. When an auto insurance company in Nova Scotia wants to raise their premiums or alter their rules, they must apply to the NSIB for approval first.

While Nova Scotia drivers face some of the cheapest car insurance rates in Canada, this doesn’t mean they can’t lower their rates even more! There are several ways to save on auto insurance. When looking for cheap insurance, always remember to shop around and compare quotes online in order to get the best rate!

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How does car insurance in Nova Scotia work?

Auto insurance in Nova Scotia is run by privatized insurance companies, all offering auto insurance policies at various premiums. The price of your premium will vary based on several factors, and no two drivers will receive the same quote. When looking for a car insurance policy in Nova Scotia, drivers should always shop around and compare quotes online before purchasing a policy in order to land the best rates! 

A basic insurance policy in Nova Scotia will protect you financially from physical damage to property or bodily injury that results from a traffic collision. Not only that, your auto insurance policy will also provide coverage for liability costs should you be responsible for injuring another individual or their personal property in a car accident. When it comes to auto insurance, there are also many ways to add additional coverage to your policy for added protection and peace of mind.

Types of auto insurance in Nova Scotia

It is required by law for drivers in Nova Scotia to have the following coverage:

Drivers in Nova Scotia must have a minimum of $500,000 in third party liability coverage. This will provide coverage in the event that you injure an individual or damage property at fault. While this is just the minimum requirements, it is common for drivers in Nova Scotia to purchase additional coverage as a precaution.  

Whether you’re at fault or not, accident benefits will protect you financially while you are recovering from an accident, as well as pay for any medical bills that are not covered by the government.

Medical costs and other expenses are covered in the event you’re involved in a hit and run or by an uninsured driver. 

Provides coverage should your vehicle be damaged in an accident that is not your fault. 

Optional coverages

While the above coverage is mandatory for all drivers in Nova Scotia, many choose to purchase additional coverage such as collision coverage, comprehensive coverage, specified perils or all perils, for added protection and peace of mind. 

Financial protection in the event that you are involved in a collision and your car is damaged. 

Financial protection in the event that your vehicle is damaged by something other than another vehicle, whether vandalism, theft, weather, fire, etc. 

You can customize your auto insurance policy to have specific coverage for certain perils such as damage caused by fire, floods, hail or theft.

All Perils insurance will provide the widest level of coverage. All perils coverage includes both collision and comprehensive coverage as well as increased protection for events such as theft.

What factors impact Nova Scotia car insurance premiums?

Insurers look at several factors when deciding the cost of individual auto insurance premiums.

Your premiums will vary based on where you live. Whether you live in Halifax, Sydney, Antigonish, or elsewhere, you can expect to have different premiums. Your premium will depend on certain location-based factors such as traffic and theft rates.

Regardless of whether a young driver have a pristine record or not, they are considered to be of high risk by insurers. As a result, young drivers pay more for insurance. As they become more familiar with the road and gain more experience, they can expect for their rates to decrease, usually after 6 years or so. This, of course, relies on you keeping a clean record.

In Nova Scotia, insurers favour those with a clean record. A clean record means that insurers can trust you to practice responsible driving. This translates into lower rates. Alternatively, those who have traffic convictions on their record will face higher premiums.

When calculating your premium, an insurance company will consider the type of car you drive. They are mainly interested in the cost of repair or replacement of your vehicle. Most often, the more expensive your car is to replace, the more expensive your insurance will be.

Your car insurance premium will grow with your mileage. An individual who spends hours in their vehicle commuting to and from work everyday or going to their cottage every weekend, will spend more on insurance than someone who only uses their vehicle for local errands such as going to the grocery store or pharmacy.

The cost of your insurance policy depends on the amount of coverage you choose. For example, an individual who purchases the minimum coverage requirements in Nova Scotia will pay less for insurance than a driver who purchases additional coverage such as collision or comprehensive coverage. To make sure you aren't paying for more than you need, it is important to consider your needs carefully prior to purchasing an insurance policy.

How do you get cheap car insurance in Nova Scotia?

There are several ways that you can get cheap auto insurance in Nova Scotia :

Shop around for the best quote online: With such a high number of factors that determine your insurance rates, prior research is key in order to make sure you are getting the biggest bang for your buck. As there is no shortage of auto insurance companies to choose from, it is highly recommended to browse around and compare multiple quotes online before making your decision. 

Increase your deductible:  Your deductible is the amount of money that you will be responsible for in the event that you need to make a claim. Insurers typically offer lower premiums to those with a higher deductible.

Keep a clean driving record: It pays to be a safe driver in Nova Scotia. Not only does practicing responsible driving and obeying the rules of the road keep you out of accidents, but it also saves you money on insurance. Those with traffic convictions on their record can be hit with high insurance rates for up to ten years after the incident.

Consider your coverage options: Think about how much coverage you really need before deciding on a policy. With so many options available, you can get the perfect amount of coverage that is suited for your needs without breaking the bank. Don’t pay for additional coverage that isn’t necessary.

Take a driving course: Driver’s education courses offer many benefits beyond sheer knowledge. Not only do students become well versed in the rules of the road, but insurance providers will typically offer lower premiums to those that successfully pass their course. Drivers are deemed lower risk when they’ve been trained by the experts.

If you have multiple vehicles, insure them all under one policy: If your household consists of multiple drivers and vehicles, it will be most cost effective to put them all on one policy. 

Bundle your home insurance and auto insurance policies: If you use the same insurance company for both your home insurance and auto insurance policies, you will receive a lower premium as a thank you from your provider. Insurance companies like to reward their loyal customers.

Take advantage of discounts (winter tires, anti-theft device, student, military, etc.): There are many discounts available whether you belong to a large corporation, you’re a school alumnus, in the military, and otherwise. You can also be rewarded with cheaper rates for having optional accessories such as winter tires or anti theft devices. Insurance companies will see these as being risk averse.

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Which cities have the cheapest car insurance in Nova Scotia?

The cheapest auto insurance in Nova Scotia can be found in: 

  • Billtown ($1,547.02)
  • Auburndale ($1,505.19)
  • Donkin ($1,481.02)

Which cities have the most expensive car insurance in Nova Scotia?

The most expensive car insurance in Nova Scotia can be found in:

  • Armadale ($2,141.82)
  • Halifax ($2,126.45)
  • Beaver Bank ($2,008.76)

How does car insurance in Nova Scotia compare to other provinces?

Nova Scotia is actually among the cheapest provinces for auto insurance. Below we have listed the average car insurance rates in Canada, averaged across all provinces:

Alberta: $1,316

BC: $1,832

Manitoba: $1,140

New Brunswick: $867

Newfoundland and Labrador: $1,168

Northwest Territories: $978

Nova Scotia: $891

Nunavut: $963

Ontario: $1,505

PEI: $816

Quebec: $717

Saskatchewan: $1,235

Yukon: $812

Remember that these are simply provincial averages and are not a direct indication of what your individual rates will be. 

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