Car Insurance in Prince Edward Island (PEI)

Car Insurance in Prince Edward Island (PEI)

Drives in PEI present scenic green hills that never end and vast, extensive farmland. It’s a place where beaches have red sand and lighthouses are frequently come by.

While driving from one scenic point to the next, have auto insurance coverage that fits.

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In Prince Edward Island, Mandatory Car Insurance Coverages Include:

In PEI, the types of auto insurance coverage you need to have by law are Liability Coverage, Direct Compensation, Uninsured & Unidentified Automobile Coverage, and Accident Benefits Coverage.

Liability Coverage

If you injure someone or damage property, payments are made on your behalf.

Direct Compensation

Damages to your car are covered to the extent to which you are not at fault in a collision.

Uninsured Automobile Coverage

Medical costs and damage are covered if an uninsured driver is at fault.

Accident Benefits Coverage

Regardless of who is at fault, medical and other expenses you are entitled to receive are covered.

Enhanced and Special Coverage for Prince Edward Island

Choose one of these options for beyond-the-minimum protection for your car.

Specified Perils

Protects your vehicle from specified perils such as losses caused by fire, floods, hail or theft.

Comprehensive

All other insured damage caused to your vehicle (except collision or upset).

Collision or Upset

Damage to your vehicle caused by a traffic collision with another vehicle or object.

All Perils

The broadest level of coverage — combines Collision or Upset and Comprehensive coverage along with increased theft protection.

Accident Forgiveness

With Accident Forgiveness, your car insurance rates won’t go up if you have an at-fault or partially at-fault accident.

Uninterrupted Driving Coverage

With Grand Touring, travel worry-free within Canada and the U.S. because you’re covered for rental car insurance, a temporary rental car, and even towing.

Limited Waiver of Depreciation

In the event of a total loss, you could get the purchase price of your vehicle as your settlement value1.

How Much Does Car Insurance Cost on the Prince Edward Island?

Well, that depends on a few things. We look at several key factors when calculating your auto insurance premium (and so do other insurance companies):

Your car makes, model and year are taken into consideration when quoting you a price. The kind of car you have determines its value, safety features, and how much it would cost to repair damages.

How you drive your car in addition to the number of kilometres you drive every year, including daily commute and business use.

Your driving record includes things like the number of years you’ve all been licensed for, speeding tickets, and accidents.

The area in which you live affects premiums – whether it’s Charlottetown, Summerside, or elsewhere.

The coverage and add-ons you choose might cost more but can provide you with additional benefits that could save you money in the event of an accident.

How Do I Save On Car Insurance on the Prince Edward Island?

Here are a few simple tips to save on car insurance in PEI:

Ensure all your cars are with us so you can make the most of our “multi-vehicle discount.”

Ensure both your car and home with us so that you qualify for a “multi-line discount.”

Increase your deductible – insurance is meant to cover you for damages you could never afford on your own. Generally speaking, a higher deductible can mean a lower premium.

Think about removing collision coverage if you drive an older car. This means weighing the cost of collision coverage with the value of your car and chosen deductibles.

Maintain a great driving record by remaining claims-free and conviction-free.

Consider driving a “low-risk” vehicle. Vehicles with a widespread history of theft are more likely to have a higher premium.

Car Insurance Eligibility and Restrictions

To be eligible for auto insurance, you (and all drivers you wish to include in the policy) must have a valid driver’s license.

Insurance companies will look at your prior driving record to determine eligibility and rates. Other eligibility restrictions may arise from past convictions.

This too will vary depending on when your last conviction occurred and the nature of the conviction.

Other insurance conditions may arise depending on the type of vehicle, its use, and any customizations or modifications made to the vehicle.

For example, if you’ve altered your vehicle to enhance its performance or appearance, most insurance companies would need to assess the vehicle to determine if they could insure it.

If you plan on modifying your vehicle, call us first! We will let you know if the changes you plan on making could have an impact on your policy and your premiums.

 In Prince Edward Island, you purchase your policy from a private company. This insurance certificate indicates the level of protection for which you have opted, the optional guarantees chose, and the period of coverage.

PEI works with a no-fault system, which means that you have to deal first with your insurance company for your claims, regardless of whether or not you’re at fault. Two case studies:

You’re at fault: your insurance company won’t pay anything unless you took the optional coverages: collision, comprehensive depending on the claim.

You’re not at fault: your insurance will pay under the Direct Compensation-Property Damage (DC-PD) coverage.

What is the different car insurance in Prince Edward Island?

In Prince Edward Island, several car coverages are mandatory by law:

Third-party liability

This insurance is compulsory and covers you for:

Material damage and bodily injury caused to others by your fault

The minimum mandatory amount is 50 000 $

Statutory accident benefits coverage

This insurance protects against bodily injury and:

Covers you if you are injured in an accident regardless of who is at fault

Covers the medical staff involved in the accident: medical care, rehabilitation, and auxiliary care services

Covers income replacement.

Direct Compensation-Property Damage (DC-PD)

This car insurance covers you for:

Damage to your vehicle

Contents in your vehicle

There are a few conditions:

You must not be responsible for the accident

It must have taken place on Prince Edward Island

Another vehicle must be involved

The other vehicle must be insured by a licensed insurer

Your insurance provider pays to repair your car

Do you want to know how much is car insurance on Prince Edward Island and what are the mandatory car insurance coverages on Prince Edward Island?

In this guide, we will tell you everything you need to know about car insurance on Prince Edward Island: cover features, tips to save money as well as cheapest car insurance companies for your car in Prince Edward Island.

How does car insurance work in Prince Edward Island?

In Prince Edward Island, from the moment you own a vehicle, you must ensure it through a private insurer.

In Prince Edward Island, you purchase your policy from a private company. This insurance certificate indicates the level of protection for which you have opted, the optional guarantees chose, and the period of coverage.

PEI works with a no-fault system, which means that you have to deal first with your insurance company for your claims, regardless of whether or not you’re at fault. Two case studies:

You’re at fault: your insurance company won’t pay anything unless you took the optional coverages: collision, comprehensive depending on the claim.

You’re not at fault: your insurance will pay under the DCPD coverage.

Let’s see in detail what are the different coverages mandatory or not.

You are about to apply for car insurance to drive in your area? Never forget to compare the best car insurance plans in Canada upfront and weigh the pros and cons of what each car insurer offers.

What is the different car insurance in Prince Edward Island?

In Prince Edward Island, several car coverages are mandatory by law:

Third-party liability

This insurance is compulsory and covers you for:

Material damage and bodily injury caused to others by your fault

The minimum mandatory amount is 50 000 $

Statutory accident benefits coverage

This insurance protects bodily injury against nd:

Covers you if you are injured in an accident regardless of who is at fault

Covers the medical staff involved in the accident: medical care, rehabilitation and auxiliary care services

Covers income replacement.

Direct Compensation-Property Damage (DC-PD)

This car insurance covers you for:

Damage to your vehicle

Contents in your vehicle

There are a few conditions:

You must not be responsible for the accident

It must have taken place on Prince Edward Island

Another vehicle must be involved

The other vehicle must be insured by a licensed insurer

Your insurance provider pays to repair your car

Uninsured automobile insurance

This insurance applies if you or someone in your vehicle is either injured or killed by an uninsured driver, or by a hit-and-run driver.

Car insurance coverage mandatory on Prince Edward Island

What are the optional auto insurance coverages in Prince Edward Island?

Here are all the options you can add to your car insurance to be best protected:

Collision car insurance in Prince Edward Island

This auto insurance protects you in the event of a collision of your vehicle with an object, which can also be the rollover of your vehicle. This insurance covers property damage caused by this accident. For example, if you hit a traffic sign, you will be covered by collision insurance. This coverage is not mandatory.

Comprehensive car insurance on Prince Edward Island

This insurance protects you for anything that is not collision or upset, as the name suggests, therefore for anything that is vandalism, glass breakage, theft, or fire. If you park your vehicle on the street and when you come back, one of the windows has been broken, you will be able to use this insurance if you have subscribed to it. It is possible to make car insurance estimates to see how much you want to be insured.

Specified Perils Auto Insurance in Prince Edward Island

It covers you for risks that you have specified in the contract. For example, you can mention glass breakage but not include vandalism, theft but not include fire.

All-risk car insurance on Prince Edward Island

This insurance is a combination of all other insurances: collision, payout, and collision-free. The deductible is the same for all damages.

You will thus be protected for all incidents beyond your control (vandalism, theft, fire) but also for incidents resulting from a road accident, collision with an object, or the overturning of your vehicle.

How to get cheap car insurance in PEI

Shop and compare

Research which company provides cheap car insurance in PEI, and also the best value for you and your vehicle. Rates may change up to four times a year, but lucky for you comparing PEI car insurance with us is free.

Stay with your current insurer

Some PEI auto insurance companies will give loyalty discounts to drivers who remain active with them for years. Especially if they add family members or multiple vehicles to their policy.

Bundle your policies

If you use the same insurance company for both your home and auto insurance needs, your insurer will often thank you with a dip in premiums.

Get a multi-car discount

If you have multiple drivers and vehicles in the same household, putting them all on one policy can save you money.

Increase your deductible

Your deductible is the portion you pay when settling a claim before your insurer will pay the rest. If you’re willing to double your deductible, it could save you money.

Ask about discounts

If you’re a member of a large corporation, union, or a school alumnus, it could help you get cheaper PEI car insurance

Pay premiums annually, instead of monthly

Paying monthly adds administrative costs to your insurer, so if you’re able to pay in full annually you can lower your premiums.

Maintain a good driving record

If you’re a safe driver, obey the rules of the road and drive according to road conditions you can reduce your chances of an accident. Car crashes stay on your insurance record for up to ten years and can result in higher premiums.

Install winter tires

You can save up to 5% simply by adding winter tires to your car. Unless you’re in Quebec, where it’s mandatory.

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