Located in Nova Scotia, drivers in Halifax face some of the lowest auto insurance rates in the country. The reason why auto insurance rates in this city are kept to minimum is because of provincial government-led car insurance reforms. All car insurance companies in Halifax must have their rates approved by the Nova Scotia Insurance Board (NSIB), which works to keep Nova Scotia car insurance rates reasonable and affordable for drivers in this province.
While a majority of car insurance premiums in Halifax are below the National average, this doesn’t mean that Halifax drivers can’t save even more! When it comes to auto insurance, there are several ways to save. This starts with shopping around and comparing quotes online!
Is car insurance mandatory in Halifax?
Yes. It’s required for drivers in Halifax to have the following coverage:
Falling under the provincial requirements of Nova Scotia, drivers in Halifax must have a minimum of $500,000 in third party liability coverage. This will provide insurance coverage should you be responsible for personal injury for property damage.
Regardless if you’re at fault or not, accident benefits are in place to save you from the financial burden of medical bills and other related expenses while you’re recovering from an accident.
Uninsured & unidentified motorist coverage
Uninsured and unidentified motorist coverage will take care of medical costs and other expenses that result from a hit and run or an uninsured driver.
Direct compensation and property damage coverage
In the event that your vehicle is damaged in an accident that you’re not responsible for, DCPD will protect you financially.
It is common for drivers in Halifax to opt for additional coverage such as collision coverage, comprehensive coverage, specified perils or all perils. In doing so, drivers receive further 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 theft, vandalism, fire, hail, 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 Halifax car insurance premiums?
Insurers look at several factors when deciding the cost of individual auto insurance premiums.
While car insurance rates vary based on province and city, they also vary based on the specific neighbourhood in which you live. If you live in an area with high claim or theft rates, you will likely experience a higher premium than a driver who lives in a rural area with little traffic.
It's no secret that young drivers will pay more for their auto insurance than a driver with several years of experience. As long as you maintain a clean record, your rates should decrease as you become more familiar with driving, usually after six to ten years.
In Halifax, your insurance company will reward you for having a clean record. Those who are involved in an at-fault accident will face higher premiums as a result.
When insurers are determining your premium, they will look at the type of car you drive. Specifically they want to know the cost of repairing or replacing your vehicle. As a general rule, the more it costs to replace or repair your car, the more you will pay in insurance.
The higher your mileage, the higher your premium will be.
The amount of coverage you require will help determine your car insurance rates. Those who opt for the bare minimum will pay less than those who prefer to add additional coverage options to their policy.
How do you get cheap car insurance in Halifax?
There are several ways that you can get cheap auto insurance in Halifax:
Compare quotes online: With so many factors contributing to your insurance rates, it is important to do prior research to determine where you can find the best value. Never settle for the first insurance quote you receive. As there are so many car insurance companies to choose from, make sure to collect and compare multiple quotes before making your decision.
Increase your deductible: If you want cheaper insurance, you should increase your deductible, which is the sum of money that you will be responsible for paying in the event that you’re involved in an accident. As a general rule, the higher your deductible, the lower your rates will be.
Keep a clean driving record: Insurance companies are more likely to give cheap insurance to those with a clean record. This is because if you have a clean record, you’re deemed as a safe, low risk driver. Being a responsible driver won’t only lower your chance of filing an insurance claim but it will also cost you less.
Take advantage of discounts: Every driver can take advantage of discounts in one way or another. Whether you attend a certain college or university, install winter tires or an anti-theft device, belong to a large corporation, the military, or otherwise, there are several discounts available to drivers.
Take a driving course: If you’re a new driver, it is recommended to take a driver’s education course for various reasons. Not only will you be a better driver but your insurance provider will also offer you a lower premium as a result. You will be deemed a safer driver if you’ve been trained by professionals.
Keep all vehicles on one insurance policy: If you have multiple drivers and vehicles in your household, including them all on the same policy will save you money. Easy as that!
Bundle your home insurance and auto insurance policies: Since you have to buy home and auto insurance policies regardless, why not save money by bundling them on the same policy? Insurers reward their loyal customers with lower premiums.
Consider how much coverage you really need: Before locking in on a policy, think about how much coverage you really need. With so many options available, we can help you find the perfect amount of coverage to suit your needs. Don’t pay for more than you have to!
As you can see, insurance companies take several factors into consideration when calculating premiums. Whether you’re a new driver in Halifax looking for cheap insurance or have been with the same insurance company for years and finally want to save, it’s always a good time to shop around and compare insurance quotes online. At Complete Car, we can’t wait to find you the best insurance policy suited for your needs.
Tips for driving in Halifax
Install snow tires: Halifax is no exception when it comes to crazy Canadian winters. Installing winter tires on your vehicle won’t only keep you safe when out on the roads, but car insurance companies also offer discounts to those who use them!
Watch out for pedestrians: If you aren’t already, always be courteous to pedestrians. Drivers in Halifax are known to have great road manners. When pedestrians are approaching, be prepared to stop.
Be aware of one-way streets: One-way streets are a leading cause of accidents in Halifax. Keep yourself, your car, and others protected by paying close attention to street signs. This is especially important by the Halifax waterfront.
Watch out for the Armdale Traffic Circle: No stranger to traffic, the Armdale Traffic Circle in Halifax welcomes traffic from five different roads: Herring Cove Road, St. Margaret’s Bay Road, Joseph Howe Drive, Chebucto Road, and Quinnpool Road on the peninsula. Always pay extra attention when passing through in order to avoid an accident! And remember, cars entering the traffic circle must yield to those already in it.