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New Brunswick Auto Insurance

Compare New Brunswick Auto Insurance Quotes and Get the Best Rate

New Brunswick enjoys one of the most affordable average auto insurance rates in all of Canada. New Brunswick auto insurance rate is the fourth lowest among Canadian provinces. In 2016, an average vehicle costs only $775 to insure which is 46% lower than Ontario rates.

Although New Brunswick drivers pay some of the lowest rates, the rates offered by different New Brunswick auto insurance companies differ. While some insurers offer rates lower than the average, some others offer higher. The key to saving on your New Brunswick auto coverage is to shop around and go with insurers offering lower rates for your coverage.

This is where Insurdinary.ca comes in. We help New Brunswick drivers to find the cheapest and affordable auto insurance rates. When you call Insurdinary, we will connect you to reliable insurance advisors in New Brunswick who will guide and assist you to choose the most suitable and adequate auto insurance coverage for residents.

To compare insurance rates click here.

What are the Different Factors that Affects New Brunswick Auto Insurance Rates/Prices?

Your New Brunswick auto insurance rate can be determined by several factors. Auto insurers in the province consider some of these factors when calculating your rate. The factors are outlined below:

  • Your payment history
  • Discounts
  • Driving record
  • How you use your vehicle
  • Your insurance coverage lapses
  • Whether you live in a city or rural area
  • The number of years you have been licensed.

To compare insurance rate, click here.

New Brunswick Auto Insurance FAQ

How are auto insurance rates determined in New Brunswick?

Information regarding the driver, his driving habit and also the vehicle determine the New Brunswick insurance rate.  The factors considered by insurance companies to determine New Brunswick auto insurance rate are outlined above.

What factors do not affect your New Brunswick auto insurance rate?

Due to the 2003 New Brunswick auto insurance reforms, certain factors no longer affect your insurance rate and insurance companies cannot deny you coverage based on such factors. These include:

  • Your age
  • Marital status
  • Your vehicle’s age
  • Your previous insurance history through a high-risk insurance company.
  • Insurance lapse below two years except it involves license suspension.
How do you determine fault in New Brunswick?

New Brunswick operates a no-fault system in property damage claims. This means that your insurance company will pay the cost of your vehicle repairs no matter the person at fault in an accident. The accident benefits are paid with the liability coverage for the at-fault driver. The New Brunswick Fault Determination Rules established in the Insurance Act establish how fault is determined.

What New Brunswick laws affect drivers in the province?

Drivers in New Brunswick are required by law to carry the legal minimum coverage and a proof of the insurance. Law enforcement agents will always require drivers to provide proof of insurance or face legal consequences. Drivers are also required to obey the rules of the road every time. Drivers must also stop when involved in an accident and they are required to stop for law enforcement.

Will New Brunswick Auto Insurance Go Down Anytime Soon?

For years, New Brunswick has enjoyed a really low auto insurance rate, one of the lowest in Canada, thanks to the insurance reforms of 2003. However, several metrics indicate that the auto insurance rate in the province is likely to rise. New Brunswick auto insurance rate has not increased since 2012 but auto insurers in the province made 62% more claims corresponding to $144 million from 2012 to 2017. As a result, insurers are requesting for some of the steepest rate hikes in 16 years.

Although the insurance rates are expected to rise, the amount you actually pay depends on you and how you shop for coverage. Insurdinary can help you to reduce the amount you pay in auto coverage by connecting you to insurance advisors.

To learn more about New Brunswick auto insurance, click here.

What is the Minimum Requirement for New Brunswick Auto Insurance?

Drivers in New Brunswick are required to have $200,000 in third-party liability insurance on their vehicles before they can be allowed to register their vehicles in the province. They are also required to hold direct compensation property damage (DCPD) coverage. This provides coverage for damages done to a vehicle if another driver is at fault for an accident. It is also required that drivers hold unidentified and uninsured insurance in New Brunswick. This provides coverage for when you are involved in an accident with an uninsured driver or the driver cannot be identified.

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Auto Insurance By Province

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Average Auto Insurance Rates By Province

Year
Rate Change
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

New Brunswick Auto Insurance News

A group comprising some of the largest auto insurers in New Brunswick is applying for a rate high in the province. If approved, this would be the steepest hike in 16 years.

However, the topic is too late to become an election issue because drivers will not be faced with the bills until weeks after the provincial election.

The New Brunswick’s consumer advocate for insurance, Michelle Pelletier said that the increase will be significant. She said that insurers are complaining of having really big losses and therefore are asking for bigger increases.

New Brunswick has become one of the most troublesome financial sinkholes for auto insurers because of rising auto accident claims caused by more generous government rules around what accident victims can claim compensation for.

The General Insurance Statistical Agency (GISA) of Canada said that auto accidents claim amount of $376.9 million was generated in New Brunswick in 2017. This corresponds to 62% ($144 million) more in claims within five years, yet insurance premiums were not increased to compensate for it. However, the average premiums paid by drivers in the province between 2012 and 2017 decreased to $803.15 per vehicle.

To learn more about New Brunswick auto insurance news click here.

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