Nova Scotia car insurance is relatively inexpensive compared to the rest of the country. If you compare average rates as found here we rank seventh with a $906 yearly cost. Of course you could argue dealing with some of the worst potholes in Canada more than makes up for the lower premiums. Pothole insurance anyone? You can bet the premiums would be high. Ontario still ranks first in the country in auto insurance quotes with a whopping $1878 but is now going through a series of regulatory changes to gradually bring them closer to the provincial average. Alberta, in the high middle, has an average of $1476, still significantly beyond any Atlantic province.
As with all provinces Nova Scotia auto insurance is compulsory. If you are caught driving without insurance the fine is hefty. First offence fine is $1000, second offence $2000, third offence $5000. Graduated licensing is in effect in NS where a Class 7 Learner’s License is followed by a 5N leading to a Class 5 two years later if all goes well. At Class 5 without any offences, traffic violations, or accidents the cheapest insurance rate is reached. There are many other factors that are under your control that may reduce your premium including type of car, model of car, and amount you drive, and whether you live rurally or in an urban centre — car insurance in Halifax is the most expensive in the province though much less than other urban centres in Canada. Factors not under your control are things like your age and gender, and marital status — most people won’t rush out to get married to save a few dollars on their insurance but married people do get a slightly lower rate.
In Nova Scotia minimum third party liability is $500,000, the highest in the country (Quebec has the lowest at $50,000). Fortunately our insurance is determined by competition among sixty different companies in the province. British Columbia, Saskatchewan and Manitoba all have government-run insurance companies and have significantly higher rates and significantly lower customer satisfaction because of it. In addition to third party liability Nova Scotians must have accident coverage, and protection in case they are at no-fault in a collision with an uninsured vehicle. Optional coverage includes greater liability — many people choose $1,000,000 — and comprehensive.
In 2012 and 2013 adjustments were made to Nova Scotia’s car insurance. Improvements, in fact. The table below shows increases to mandatory accident benefits. These amounts apply regardless of whether or not you were at fault in the accident.
|Medical & Rehab Expenses||$25,000||$50,000|
|Head of Household|
|Loss of Income||$140/wk||$250/wk|
|Principal Unpaid Housekeeper||$70/wk||$100/wk|
Other improvements include:
- The fact that you can now report an accident to your insurer and not have it affect your premiums if you don’t make a claim;
- Direct compensation for property damage (DCPD): in Nova Scotia auto owners can go to their own insurance company for compensation even if another party caused damage to their vehicle. This facilitates swifter processing of claims;
- New diagnostic and treatment protocols: these new protocols again allow for quicker processing and standardized assessment procedures for those with minor automobile and motorcycle injuries. These changes allow for the injured person(s) to get treatment and relief faster than before the reforms.
Deductibles explained in video by a Nova Scotian auto insurer (this website is not affiliate with the company presenting the information)