On April 1, 2013 the government of Nunavut took over as the administrator for the territory’s auto insurance. Before that, since 1999, the Northwest Territories had provided these services. In Nunavut, car insurance is mandatory and available for purchase via private insurance companies and brokers. The northern most territory has instituted standards for mandatory coverage that includes $200,000 in third-party liability insurance. This protects drivers in the event they cause injury or death to a third party. You are also required to carry no-fault insurance, meaning you must first deal with your own insurance provider for claims and accident benefits if you’re involved in a crash. It’s recommended you speak to your private insurer to get more coverage. For instance, many drivers in Nunavut will opt for comprehensive and collision insurance to better protect themselves and their vehicle.
Here is an overview of the available car insurance coverages in Nunavut:
*Table information sourced from http://www.ibc.ca (2017)
Drivers in Nunavut pay around the national average for car insurance in Canada. The auto insurance rates are governed by the Department of Economic Development and Transportation. The department will 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 territory’s rising auto insurance 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 Nunavut 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.
To find the best car insurance rate in Nunavut, it pays to shop around. Even though insurance applications are fairly standard with many of the same questions, you’ll find that insurance rates can differ between providers due to a few factors. The insurance company determines rates based on who they presently insure, how many active claims are on their current financial accounts, and the underwriter’s overall tolerance for risk. There are several other elements you can’t control that can have a negative effect on an insurance rate estimate. For instance, age has historically led to a lower frequency of claims for both men and women. Older, more experienced drivers are rewarded with cheaper premiums. The average premium in any given area is the result of the amount and cost of all claims. If you live in a densely populated area, you’ll likely pay more.
Here are 7 factors that determine your car insurance premium.
At Ratehub.ca, we generate car insurance quotes using our car insurance calculator from Canada’s top providers all from one easy-to-use form. Research which car insurance company provides the best value for you and your car. In Nunavut, rates change often, but lucky for you shopping for rates with us is free.
Some car insurance companies in Nunavut hand out loyalty discounts to drivers who remain active on their plans for years.
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.
If you have multiple drivers and vehicles in the same household, by putting them all on one policy can save you money.
The model of car you drive, its safety rating, its price, the amount of times it gets stolen – all affect your automobile premium. Research which automobiles have a low occurrence of theft to save on auto insurance.
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.
If you’re a member of CAA-Manitoba (which covers Nunavut), a large corporation, union, or a member of your school alumni, you could get cheaper car insurance
Paying monthly adds administrative costs to your insurer, so if you’re able to pay in full annually you can lower your premiums.
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.
You can save up to 5% simply by adding winter tires to your car. With winter driving conditions being so treacherous throughout Nunavut it pays to be safe!
You can even install a telematics device to collect driving data. With user-based insurance (UBI) you can earn discounts based on not driving far or often, and on advanced stats like how carefully you brake and accelerate.
If you’re new to driving, a driver’s education course will save money. Your car insurance provider will think of you as a safer driver if you’ve been trained by professionals.
If you are 15 or older, you can apply for a driver’s license in Nunavut from the Motor Vehicles office. Once you’ve passed a few tests, you can apply for a license from any of the Department of Economic Development and Transportation offices.
Learner's permit Class 7 license phase (or level one) eligibility criteria:
You need to be at least 15 years of age
Provide proof of legal name, date of birth, and signature. (e.g. Passport, birth certificate)
Pass a vision test
Pass a written test about the rules of the road
Pay the associated written test fees
Class5 (or level two) eligibility criteria:
You need to be at least 16 years old
Have practiced a minimum of 4 weeks
Have less than 5 demerit points
Book and pass a road test
Pay an administrative fee for the road test
Pay the upgrade fee for the class 5 license