Compare Newfoundland car insurance quotes
Get a personal Newfoundland auto insurance quote from some of Canada's top providers, for free.
Matt Hands, Business Director, Insurance
In Newfoundland and Labrador, car insurance is mandatory and provided by private insurance companies and brokers. The "Digital Government and Service NL" helps to regulate and resolve disputes for Newfoundland insurance.
Auto insurance in Newfoundland uses a no-fault system. No-fault means you can still be found at fault, but that you'll only ever deal with your own insurance company for claims. It expedites the claims process and dissuades people from taking legal action.
All the insurance companies in Newfoundland require drivers to have 3 types of car insurance, they include:
- Third-party liability - Protects against damage you cause while driving, both injuries and property.
- Accident benefits - Covers medical benefits following a traffic accident, regardless of who's at fault.
- Uninsured motorist - protects against injuries you and your family sustain in a collision with a driver who has no insurance.
- DCPD - Allows insured drivers to be compensated by their own insurer for property damages resulting from an automobile collision caused by another party. (As of Jan 1, 2020)
You can also buy optional car insurance coverage to enhance your protection, including:
- Collision - Pays to repair or replace your vehicle after an at-fault crash.
- Comprehensive - Protects your car from theft, vandalism, and the effects of bad weather.
- All Perils - Combines collision and comprehensive, and adds extra protection in case someone you know steals your car.
- Specified perils - You can name specific risks and get coverage for perils like lightning, flood, or fire.
Finally, Newfoundland insurance also offers endorsements to modify your policy.
- SEF5 - Loss of use - Insurance will pay for your rental car while your car is being repaired following a claim.
- SEF27 - Damage liability for non-owned automobiles - This allows you to port your existing coverage onto a rental car (and avoid paying rental car insurance).
- SEF39 - Accident forgiveness - Protects your driving record from one collision increasing your rates.
- CAE5 - Minor conviction waiver - One speeding ticket won't affect your insurance rates.
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Drivers in Newfoundland and Labrador pay some of the highest car insurance rates, on average, in Canada. The auto insurance rates are governed by the Newfoundland and Labrador Board of Commissioners of Public Utilities. They review and report on issues as they relate to car insurance, including why there are increasing claims costs and methods to help reduce these costs.
Due to the province’s relatively expensive auto insurances pricing, it is imperative to compare car insurance quotes to ensure you’re getting the best policy to suit your needs. In fact, citizens of Newfoundland and Labrador are encouraged to compare rates and consult with industry experts before finalizing their car insurance policy.
Informed consumers help to create a more competitive market, which often leads to both better rates and service from car insurance providers.
Direct Compensation Property Damage (DCPD)
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Research which company provides cheap car insurance in Newfoundland, and also the best value for you and your vehicle. Rates may change up to four times a year, but lucky for you comparing Newfoundland car insurance with us is free.
Stay with your current insurer
Some Newfoundland 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, by 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 Newfoundland 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.
To get the cheapest car insurance in Newfoundland, one way to achieve low rates is to take a driver's ed course while getting your license. It's a great method for young drivers to reduce car insurance premiums.
Since 1999, Newfoundland has used a Graduated License Program (GLP). The system requires each driver to progress through two educational phases in order to be considered a fully licensed driver. Once you’ve successfully completed the program, you can legally operate a car. Let’s take a quick look at graduated license program approach:
Learner's Class 5 license phase (Novice/level one) eligibility criteria:
Novice Driver (Class 5/level two) eligibility criteria:
Class 5 regular licence (or full license/level three) eligibility criteria:
Are you getting the best price for Newfoundland car insurance?
At $1,168 per year, Newfoundland and Labrador drivers pay the 4th highest annual premiums for auto insurance in Canada. Compare quotes today to see if you can save.
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Matt started his professional career at CARPROOF where he honed his marketing and analytical skills for over 3 years. Matt then took his wealth of experience to Ratehub.ca’s Toronto offices, working with insurance providers, agents, and brokers to grow and expand the Insurance business unit. He is a thought leader in the community and a valuable insurance resource to respected publications like the Globe & Mail, Toronto Star, Huffington Post, Yahoo News, and 680 news radio in Toronto.
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