Insurance business in Canada ranks second after banking in terms of the amount of capital involved in it. It is difficult to indicate which sphere of human activity here does without insurance. It is believed that any person who understands his responsibility to himself, his family and society is obliged to insure himself, his property and his actions.
Car insurance in Canada is mandatory. The terms of such insurance can be found at https://www.stingypig.ca/car-insurance-calculator/. A policeman who stops a car for any reason will definitely ask a driver for insurance. The fine for its absence is $5,000.
The amount of the insured sum depends both on the cost of the insured car and on the amount of damage that this car can cause. Therefore, owning a car worth $300 does not mean that the insurance amount will be low. Such a car can crash a very expensive car and require much expense for the treatment of people who got into an accident because of it. In all cases, the amount of the insured sum is rarely less than $ 500,000.
The insurance fee depends very much on the age of the driver. If a person is a new driver between the ages of 16 and 18, then his insurance fee will be maximum and can reach up to $ 300 per month. As the age of the driver increases, the insurance fee drops rapidly, even if it is a new driver.
The insurance fee also strongly depends on the length of service and driving conditions confirmed by the insurance company. You can compare the offers of different insurance companies by creating a request on this Home page.
The insurance fee increases significantly if the driver receives penalty points for violating the driving rules. Every year, when extending car insurance, the driver’s insurance agent takes data from the police computer system about traffic violations and accidents committed by the driver. Consequently, opt for experts to get your car insurance.