How To Get Affordable Car Insurance in Moncton

How To Get Affordable Car Insurance in Moncton - cheapest car insurance in new brunswick

Moncton, New Brunswick’s largest city, happens to be a haven for drivers. The unique mix of traditional culture and modern urban lifestyle in Canada, along with its demographics, make it a great place to work and live. Besides, drivers love cruising along the stunning landscapes while enjoying the laid-back essence of this city.

Insuring your car in Moncton costs around $900 a year. While car insurance in Moncton seems to be cheaper than in many other Canadian cities, why not go the extra mile to further curtail your premiums? Consulting a reputed insurance broker like Surex can help you compare quotes from multiple insurers instantly.

Let’s find out how you can purchase affordable car insurance policies in Moncton.

How does auto insurance work in Moncton?

A no-fault auto insurance system works in Moncton. This implies that drivers would be reaching out to their own insurers to claim, not considering the party who’s at fault during an accident. Therefore, you need not hunt for the offending driver’s insurance company. All your dealings take place with your own insurer.

Private insurers provide different car insurance in Moncton policies at competitive rates. The Financial and Consumer Services Commission of New Brunswick (FCNB) regulates these insurance companies. The body takes care that premiums remain affordable and justified. Insurance companies can hike premiums only after seeking the regulatory body’s approval.

Car insurance coverage in Moncton has two broad categories: mandatory coverages and optional coverages.

1. Mandatory car insurance policy in Moncton

  • Third-party liability
  • Uninsured automobile insurance
  • Accident benefits
  • Direct Compensation Property Damage (DCPD)

2. Optional car insurance policy in Moncton

  • All perils coverage
  • Specified perils coverage
  • Comprehensive car insurance coverage
  • Collision insurance coverage

3. Coverage enhancements or add-ons

  • Depreciation waiver (SEF 43)
  • Accident forgiveness (SEF 39)
  • Rental car cost coverage while you repair your car (SEF 20)
  • Insuring a rental car (SEF 27)
  • Extending third-party liability coverage (SEF 44)

What happens if you drive without insurance in Moncton?

Just like in any other province in Canada, insuring your car is mandatory in New Brunswick. So, drivers in Moncton should get adequate insurance coverage for their cars to avoid legal troubles. If you are caught driving without the mandatory insurance policy in this Moncton, you will face penalties and fines. In New Brunswick, uninsured motorists need to shell out fines ranging from $200 to $5,000. Apart from fines, you may face imprisonment. Under certain circumstances, your driving license may be suspended.

Considering the adverse fallouts of driving without proper insurance in Moncton, it’s wise to consult brokers and purchase an affordable policy. Reputed car insurance brokers would recommend policies that adhere to the provincial laws in New Brunswick. Besides, these policies would fit into your budget and lifestyle.

How can an insurance broker help you find affordable policies?

Do you know why most car owners in Moncton prefer working with reputed insurance brokers? Their experience and industry knowledge keep premiums low for the owners. Let’s check out how Surex can help you curtail your premiums.

1. Insurance brokers work independently

Unlike insurance agents who support the interest of a specific insurer, brokers work independently. Their interest lies in recommending the most suitable policies for their clients. So, they prioritize the requirements of car owners rather than any particular insurer.

When you convey your needs to a broker, they evaluate your risk profile and sift through policies that perfectly balance your risk profile. This way, you can find the right coverage for your car.

2. Brokers research for you

One of the upsides of looping in an insurance broker is that they do the homework on your behalf. For a layman, researching the profiles of dozens of insurers and hundreds of policies turn out to be a time-intensive affair. It might take you weeks, if not months, to scrutinize different insurers’ claim settlement rates, features, and offers. Rather than bothering yourself with this trouble, why not let insurance brokers do the job?

When you reach out to a broker, the professionals would ask for your details. Next, they would compare quotes suitable for your profile and recommend customized policies within your budget. All these processes are a matter of minutes since they already have the details of every insurer on their database.

3. Brokers are experienced

From time to time, car insurance companies in Moncton roll out discounts and rebates. Unless you get to know the ongoing offers, it’s impossible to capitalize on them.
Working with an insurance broker brings you the opportunity to save money on premiums as they keep track of these offers. Moreover, experienced brokers can advise you when to skip an optional policy or add-on. This way, you can save money on your auto insurance policy.

Additional tips for buying affordable car insurance in Moncton

Check out these additional guidelines that should help you purchase affordable car insurance Moncton, NB.

Do you have separate insurance policies for your home, motorcycle, car, or RV? Rather than purchasing these policies from different insurers in Moncton, consider bundling the policies. This way, you can end up saving up to 15% on each of the packages.

  • Undergo training through a defensive driving course. This will convince your insurer about your responsible driving habits, who might pass on a discount as a token of appreciation.
  • Install winter tires and anti-theft gear in your car. By lowering the risk profile of your vehicle, you can be eligible for a sizable discount.
  • Besides renewing your premiums on time, consider paying them annually. Although insurers allow car owners to pay their premiums monthly, you would end up losing the discount or paying additional processing fees.
  • Track your driving habits using telematics so that you can furnish proof of your controlled and responsible way of navigating through the roads.

Car insurance in Moncton — Endnote

Purchasing a Moncton car insurance policy shouldn’t break your wallet or prompt you to purchase inadequate coverage. If you are unsure of the provincial insurance requirements or find it challenging to choose your policy, feel free to seek professional support.
Insurance brokers can help you choose the right package, keeping premiums affordable. Moreover, you would find their assistance invaluable when it comes to filing a claim.


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