How Can You Get Cheap Car Insurance in Moncton?
You can get cheap Moncton car insurance by finding the best deals. Here are several tips to help you do so:
Install Winter Tires on Your Car
In New Brunswick, winter tires are only mandatory for school buses, unlike in Quebec, where all passenger vehicles need to have them. However, winter tires are highly recommended for safety in winter months, so you may get car insurance discounts if you install them.
Consider Buying An Electric Car
The New Brunswick government offers many incentives for electric car owners. One of them is a car insurance rate reduction, which may save you some money on premiums every year.
Purchase Safe and Reliable Cars
Most Canadian insurance companies use CLEAR (Canadian Loss Experience Automobile Rating) to determine a car’s safety and reliability. A high CLEAR score means the car is safer, leading to lower insurance premiums.
Fortunately, the CLEAR database is open to the public, so you can check the score of any car model you have eyes on. If you buy a car with low CLEAR scores, prepare to pay higher Moncton car insurance premiums.
Consider Taking Usage-Based Insurance
Usage-based insurance (UBI) or pay-as-you-go insurance is great if you drive safely and don’t travel much. This insurance calculates your rates by analyzing your driving habits and car mileage. If you’re a proven safe driver, you can save up to 30% on premiums with UBI.
Pay Annual Premiums
Insurers give discounts if you pay premiums annually because you’ll be committed to them for the long haul. The initial expense is higher but, as the per-month cost is cheaper, so are the long-term savings.
If you can’t afford to pay a full year in advance, ask your insurance company about half-year premiums.
Practise Safe Driving
Accidents and traffic violations stay on your insurance record for a long time and can raise your rates. Keep your driving record clean to ensure you get the lowest Moncton auto insurance premiums. You can also take accredited driving lessons to show insurers you’re committed to driving safely and lower your rates further.
Remove Unnecessary Optional Coverage
Taking extra coverage options beyond the minimum requirement protects you from more hazards but raises your premiums. Consider skipping unnecessary optional coverage if you want to save money on car insurance.
Compare Policy Deals
Comparing deals between multiple insurance providers helps you identify which one offers the most value. To find the best deals, use MyChoice to compare Moncton car insurance quotes.
Take Home and Auto Bundles
Insurance companies give discounts for home and auto bundles because you’re giving them more business. In most cases, policy bundles are cheaper than individual home and auto policies from two different companies.
Ask For a Higher Deductible
You must pay deductibles on insurance claims before the financial benefits kick in. Higher deductibles mean paying more out of pocket in case of an accident, but the trade-off is lower insurance premiums. Conversely, lower deductibles reduce your out-of-pocket expenses but raise your insurance premiums.
Who Provides Car Insurance Quotes in Moncton?
Insurance brokers, agents, aggregators, and direct writers provide car insurance quotes in Moncton. Here’s an overview of these four insurance quote providers:
Insurance brokers don’t work for a specific company, so they can freely search the market and compare insurers to give you the best deals. Brokers understand the ins and outs of Moncton’s insurance market, so you can ask them questions about auto insurance policies.
Brokers take a commission from insurance companies, which could increase your rates. You might spend more money than if you had found an insurer yourself.
Direct writers only sell policies from one insurer, like agents. However, they’re usually cheaper than insurance agents because they don’t have physical offices. Direct writers are great if you want to save money, but you can’t book face-to-face meetings with them.
Insurance agents work for one insurer, so they may offer fewer choices than insurance brokers. However, they know every minute detail of the products they’re selling and can even apply discounts that are unavailable to brokers. Agents can also close sales independently, meaning you’ll finish your policy sale quicker.
Insurance aggregator websites like MyChoice compile policy deals from numerous insurers to help you find the best-valued offers. Aggregators are usually free for customers, meaning you can find affordable auto insurance in Moncton without spending a penny.
The Best Car Insurance Brokerages in Moncton
Car insurance brokers assist your search for the best policy by comparing insurers and answering questions. Here are several Moncton brokers that can assist you when looking for auto insurance:
|77 Vaughan Harvey Blvd Suite 305,
Moncton, NB E1C 0K2, Canada
|279 Champlain St Unit 102,
Dieppe, NB E1A 1P2, Canada
|Billyard Insurance Group – Moncton
|770 Main St Unit 1604,
Moncton, NB E1C 9Y3, Canada
|1855 Mountain Rd Unit A-4,
Moncton, NB E1G 1A8, Canada
How Does Car Insurance Work in Moncton?
Car insurance in Moncton works like typical car insurance policies. The insurer provides financial coverage if you get involved in an auto accident. Car insurance is mandatory for all drivers in Moncton, which means you may face legal consequences if you drive without a policy.
If you’re caught driving uninsured in Moncton, you’ll be fined between $200 and $5,000. You may also face other punishments like jail time or licence suspensions.
Here’s a breakdown of the key components of car insurance in Moncton:
As a driver in Moncton, you need to have the following auto insurance coverage:
- $200,000 in third-party liability coverage
- $50,000 in accident benefits coverage
- Uninsured motorist coverage
- Direct compensation for property damage (DCPD) coverage
Here’s an overview of the four major insurance coverage options:
Third-Party Liability (TPL) Coverage
Third-party liability coverage protects you if you injure or kill someone. It also protects you if you damage somebody else’s vehicle or property.
Uninsured Motorist Coverage
This coverage pays for injuries you or your family may sustain in a collision with an uninsured driver.
Direct Compensation for Property Damage (DCPD)
If the accident isn’t your fault, DCPD coverage covers your car repair costs.
Accident benefits pay for your medical bills and potential funeral costs as a result of the car crash.
In addition to the four mandatory coverages previously mentioned, you can also round out your protection with optional insurance coverage. Here are some of the most popular optional coverage choices for your policy:
Collision insurance pays for your car’s repair or replacement if you’re at fault for the accident. It’ll lighten the financial load if you ever end up causing an accident.
External factors like weather, criminals, fire, and sometimes animal collisions can harm your car. Comprehensive insurance protection keeps your vehicle safe from these often unpredictable dangers, which makes it one of the most important options for additional coverage.
Additional Policy Limits
For some people, $200,000 in liability coverage and $50,000 in accident benefits may be too small. Fortunately, you can raise these limits to get more insurance coverage.
SEF 44 Family Protection Endorsement
This optional insurance product provides extra financial coverage if the at-fault driver doesn’t have enough insurance to pay for your injury claims. This coverage also applies if the other driver isn’t insured, so you’ll receive financial compensation even if the at-fault driver can’t pay for it.
How Your Car Insurance Quotes Are Calculated in Moncton
Moncton insurers use several factors to calculate your car insurance rates. Here’s a look at what factors influence your Moncton auto insurance rates:
Personal demographics like age, gender, and marital status influence Moncton car insurance rates because they represent your driving risk.
Drivers under 25 often pay higher insurance premiums because they tend to be accident-prone, high-risk drivers. Once you hit 25, your insurance rates will start declining because you have more driving experience. However, your rates will rise again after age 65 because senior citizens are more likely to get hurt or die in car accidents.
Insurers give lower rates to women because they’re seen as more careful drivers. A similar logic applies to married people, who insurance companies think will take fewer risks because they have family waiting at home. Moreover, married people frequently bundle home and auto insurance, giving them better deals.
Residents of major cities like Saint John will likely get higher insurance rates because more cars lead to a larger accident risk. Major cities also see more crime, which increases the risk of theft and vandalism.
Driving History and Frequency
Accident-free drivers usually get lower auto insurance premiums in Moncton because insurers consider them lower-risk policyholders. Conversely, people with a long record of car accidents get higher auto insurance rates because insurers believe they’ll get into more accidents in the future.
Driving frequency is also related to accident risk because the more you drive, the more likely you’ll be involved in an accident. Someone who only drives on the weekend will get lower rates than someone who drives to work daily.
Not all cars are created equal – some are safer than others. Insurers use CLEAR (Canadian Loss Experience Automobile Rating) to measure a car model’s accident risk. Models that see lots of theft and accidents generally have a low CLEAR score, which means insuring them is more expensive.
Extra insurance coverage protects your car from more hazards but increases your insurance premiums. Consider skipping unnecessary coverage options to save money on auto insurance.
Most Expensive Postal Codes in Moncton
The average car insurance rate in Moncton is $1,196, but some areas like E1C (Moncton Central) and E1G (Moncton West) have higher rates due to various factors like traffic density and local crime rate.
Here’s a breakdown of the most expensive postal codes for auto insurance in Moncton:
|Average Annual Car Insurance Premium
Least Expensive Postal Codes in Moncton
Fortunately, Moncton also has an area with lower car insurance rates, namely E1E (Moncton West).
Here’s an overview of the cheapest areas for auto insurance in Moncton:
|Average annual car insurance premium
Other Factors That Affect Car Insurance Prices in Moncton
Insurers calculate your auto insurance rates based on many factors. Here are some additional things that could influence your Moncton car insurance rates:
Vehicle Model Age
Older car models usually get higher insurance rates because they have fewer safety measures than newer models and spare parts may be rarer. Ensure you can afford the insurance before buying a vintage car.
Low Crime Rates
High crime rates mean that vandalism and theft are more common. Insurers often assign higher rates to residents of high-crime areas to offset the higher risk of theft and vandalism.
Insurance companies often reward long-time customers with discounts and other benefits. Consider asking your insurer about rate reductions or special discounts if you’ve been a policyholder for several years.
Past Isurance Claims
Any auto insurance claims will drive your premiums up, regardless of who’s at fault. If you make many insurance claims, the insurer will see you as a high-risk policyholder and give you higher rates.
Driving in Moncton
Planning to move to or visit Sault Ste. Marie? It helps to know more about driving in the area. Here are some key facts about driving in Sault Ste. Marie you should know:
- Major highways in Moncton: 2, 15, 16
- Public transit options: Codiac Transpo (bus), Maritime Bus
- Ridesharing services: Uride
- Parking space providers: The City of Moncton, private lots
- Top tourist attractions: Magnetic Hill Zoo, Centennial Park, Magnetic Hill Winery, Tidal Bore, Irishtown Nature Park
- Busy intersections: Lewisville and Shediac, Main Street and Vaughan Harvey Boulevard
- Airports: Greater Moncton Roméo LeBlanc International Airport
Main Mode of Commuting in Moncton
Knowing more about the commuting statistics in a city or town helps you get to work on time. Here’s a detailed look at the commuter data in Moncton:
- Average commute distance: The average Moncton resident travels x km to their workplace or school.
- Commute duration: Almost all commuters in Moncton spend under half an hour getting to work. 56.2% of the city’s commuters spend less than 15 minutes commuting, while 33.8% spend between 15 to 29 minutes.
- Main mode of commuting: Cars, trucks, and vans are the most popular modes of commuting in Moncton, with an 85.7% share of households. Pedestrians take a distant second-largest share with 7.5%, while public transit users come in third with a 3.5% share.
Driving Conditions in Moncton
Various weather and driving conditions like snow and rain can affect your auto insurance premiums. Here’s an overview of driving conditions in Moncton:
- Average annual rainfall: 110 mm
- Average annual snowfall: 280 mm
- Rainy days per year: 104
- Rainiest month in Moncton: December
- Driest months in Moncton: May
- Snow days per year: 104
- Snowfall months in Moncton: October-May
Traffic in Moncton
Moncton is the most populous city in New Brunswick. It’s also home to a strong and diverse economy, which attracts lots of people to work there. That means you may encounter a lot of traffic when driving in Moncton.
Here’s a quick look at the key traffic statistics in Moncton:
- Population: 79,470 people live within Moncton’s city limits.
- City area: Moncton’s city area spans 140.67 km2.
- Busiest highways: Moncton sits on Route 2 of the Trans-Canada Highway, which connects it to Nova Scotia and Quebec.
The Most Common Questions About Car Insurance in Moncton
How much does Moncton car insurance cost?
Moncton car insurance costs $1,196/year, $433 over New Brunswick’s provincial average.
Does my Moncton car insurance work in the US?
Most Canadian car insurance policies work in the US, but insurers may provide longer or shorter coverage periods. Check with your insurer before travelling by car to the US to ensure you’re protected.
Why should you compare car insurance rates in Moncton?
You should compare car insurance rates in Moncton because different insurers provide different coverage at different prices. Comparing rates help you choose which policy has the best value.