Nova Scotia Auto Insurance

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Nova Scotia Auto Insurance Overview

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Nova Scotia is one of the most affordable Canadian provinces by auto insurance with an average auto insurance rate of $842 according to the 2017 Insurance Bureau of Canada report. Nova Scotia’s low auto insurance rate is primarily due to the 2003 auto insurance reform. The reform prohibits auto insurance companies from charging premiums on reported accidents if there is no claim.

Even though Nova Scotia already has a low average auto insurance rate, auto insurance rates in the province vary with the provider. The difference in the rate charged by different providers could be in hundreds or thousands of dollars. This implies that you can shop around to get more affordable coverage in order to save on your auto policy.

Shopping around for auto coverage could take a chunk of your time. You don’t want to spend all your time comparing policy options, insurdinary.ca is here to help you. When you contact Insurdinary, we will connect you to reliable insurance advisors in Nova Scotia who will guide you to choose the most affordable Nova Scotia auto insurance policy.

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Nova Scotia Auto Insurance Details

Factors that affects Auto Insurance rates in Nova Scotia

When calculating your auto insurance rate in Nova Scotia, insurance companies consider a number of factors and variables. Some of the variables considered are given below:

  • Where you live.
  • Your gender.
  • Your deductible amount.
  • How you use your vehicle.
  • The value of your vehicle.
  • The type of coverage you choose.
  • Anyone else driving your vehicle.
  • The distance you drive each day.
  • The claims history and driving records of drivers who use the vehicle.
  • The vehicle theft rating and type of vehicle.

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Nova Scotia Auto Insurance News

The Office of the Superintendent of Insurance of Nova Scotia becomes the first insurance regulator in Canada to allow the use of electronic proof of auto insurance (EPAI) or eSlips. This would be a major milestone or progress made by the insurance industry to meet customer expectations for digital communications.

The announcement came as the Center for Study of Insurance Operations (CSIO) prepares to launch its eDelivery solution across the insurance industry. The solution will allow members to send digital policy documents and eSlips to customers for personal and commercial lines. It will meet the required principles and guidelines outlined in the Nova Scotia bulletin and would be available to CSIO members at no extra cost.

Furthermore, provincial insurance regulators can also approve EPAI by issuing a bulletin. This is in line with the eSlips Advisory Report published by CSIO in 2015. Also, CSIO is positive that other Canadian jurisdictions will adopt a similar standard in the coming weeks or months.

According to Catherine Smola, President, and CEO of CSIO, there is a widespread desire for eSlips among consumers, so many carriers and brokers are waiting for the recent bulletin from Nova Scotia. She added that CSIO looks forward to similar announcements from regulators in other provinces to bring the full value of the eDelivery solution to every Canadian.

To learn more about Nova Scotia auto insurance news click here.

Nova Scotia Auto Insurance FAQ

Why are Auto Insurance rates so low in Nova Scotia?

What is the minimum requirement for Nova Scotia Auto Insurance?

How do insurance companies in Nova Scotia calculate rate?

How do insurance companies in Nova Scotia determine fault in an accident?

What laws affect Nova Scotia auto insurance?

Why should I shop around for auto insurance rate?

Average Auto Insurance Rates By Province

Description
Rate
British Columbia
$1,680
Ontario
$1,445
Alberta
$1,251
Newfoundland and Labrador
$1,132
Manitoba
$1,080
Northwest Territories
$978
Nunavut
$963
Saskatchewan
$936
Nova Scotia
$842
New Brunswick
$819
Yukon
$812
Prince Edward Island
$796
Quebec
$661
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