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Matt Hands, VP, Insurance and MoneySense
In the Northwest Territories (NWT), car insurance is mandatory and is provided by private insurance companies, which can be purchased either direct or through a broker.
The Office of the Superintendent of Insurance supervises, regulates and enforces auto insurance across the territory.
Northwest Territories operate under a no-fault insurance system, where it doesn't mean you can't be found at fault, but that you only ever deal with your insurance provider to resolve an insurance claim.
NWT car insurance is available with both mandatory coverage and optional coverages.
Mandatory auto insurance coverage includes:
- Third-party liability
- Accident benefits
- Uninsured automobile insurance
Optional NWT auto insurance coverage includes:
- Collision insurance
- Comprehensive car insurance
- Specified perils
- All perils
The average cost of car insurance in NWT for 2020 is just under $1,000 per year.
Due to the territory’s recent rising auto insurance costs, it is imperative to compare car insurance quotes to ensure you’re getting the best policy to suit your needs. In fact, citizens of Northwest Territories are encouraged to compare auto insurance 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.
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In less than five minutes, you can compare multiple car insurance quotes from Northwest Territories's top providers, for free.
How to get cheap car insurance in Northwest Territories
Shop and compare
Research which company provides cheap car insurance in Northwest Territories, and also the best value for you and your vehicle. Rates may change up to four times a year, but lucky for you comparing car insurance quotes with us is free.
Stay with your current insurer
Some Northwest Territories car 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 Northwest Territories 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 3-5% simply by adding winter tires to your car.
Once you’re 15 years of age, you can apply for a learner’s license in the Northwest Territories. To earn a full license, you must complete a three-stage program, as follows:
Learner's licence Class 7/Stage 1 license phase (or level one) eligibility criteria:
Class 5P or Stage 2 licence (or level two) eligibility criteria:
Full Class 5 or Stage 3 licence (or level three) eligibility criteria:
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Matt Hands, Business Director of Insurance
With 6+ years of experience at Ratehub.ca, Matt’s focus has been on growing its newest business unit, Insurance. He is a thought leader and a valuable resource to respected publications across Canada. read full bio
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