In the Yukon, the Office of the Superintendent of Insurance supervises and regulates insurance. Car insurance is mandatory in the Yukon and provided by private insurance companies and brokers. The smallest and western-most territory has instituted standards for mandatory coverage that includes at least $200,000 in third-party liability insurance protecting drivers in the event they cause injury or death to a third party. You are also required to have: No-fault insurance, Accident Benefits, and Uninsured motorist protection. It’s recommended you speak to your private insurer about additional coverage options. For instance, there are four optional auto insurance coverages, including collision, comprehensive, specified perils, and all perils.
Here is an overview of the available car insurance coverages in Yukon:
Basic auto insurance coverage provided by the Provincial government. This generally includes liability, accident benefits and uninsured motorist coverage.
Auto insurance policies created & sold by private insurance carriers. Though these carriers must still abide by Federal and Provincial regulations.
Having no-fault insurance doesn’t mean you can’t be found at fault. This coverage means you must first deal with your own insurance company for all claims, whether you’re at fault or not. But, Yukon will allow a no-fault driver to sue an at-fault driver for additional damages and costs that are not covered by their accident benefits.
|Third-party Liability Insurance||
Protects against damage caused by you while driving and includes injury and death to others and property damage. This is the only insurance coverage that is mandatory across Canada. Minimum coverage for Yukon is $200,000.
Covers your medical benefits if you’re injured in a crash, whether you’re at fault or not. The coverage includes your medical costs, while also paying for additional recovery costs, such as rehab, income replacement, and payment for and attendant care, if needed.
|Direct Compensation-Property Damage (DCPD)||
Covers damage to your vehicle and its contents, and for the loss of use of your vehicle when damaged – if another person was at fault. This coverage only applies if the crash occurs in a province where DCPD is mandatory, if two or more insured vehicles are involved, and if both insurers are licensed within that DCPD province.
Uninsured motorist coverage protects against injuries you and your family members sustain in a crash caused by an uninsured motorist. It can also cover your vehicle damages, if the uninsured driver is able to be identified.
Protects against damages sustained in a collision. This insurance covers you if your car is damaged in a crash – in both cases whether you crash into another other car or whether you crash into a stationary object.
Protects against any losses a car owner may suffer, from events not related to driving. Such losses could include theft or damage from attempted theft; vandalism; environmental damage to a car from floods, fallen trees, and hail, etc.
Covers your financial losses for damage caused specific perils – but only for perils chosen specifically for your policy. Available coverages are for theft; fire; damage from hail, lightning, wind, or flooding; earthquakes; explosions; riots; aircraft crash damage; and damage sustained during any transportation relocation.
This combines the coverages you get with collision and comprehensive insurance. Additionally, all-perils also covers you if an employee, or someone who drives or services your car, steals it. It also covers you if someone you live with steals your vehicle.
|Emergency roadside assistance||
This service covers you for roadside callouts for emergencies such as dead batteries, towing, flat tires, keys locked in your car, empty gas tank, etcetera. Many insurance companies offer roadside assistance either included or in addition to other coverages.
*Table information sourced from http://www.ibc.ca (2017)
The government of Yukon tried to eliminate some factors like gender, age, and marital status but the private insurers fought hard to keep them, stating it was too difficult to process rates without these factors. Even though insurance applications are relatively standard, you’ll find that insurance rates often differ between providers. For instance, every insurance company determines their own rates based on who they presently insure, how many active claims are on their current financial accounts, and the company’s overall tolerance for risk. 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.
Once you’ve reached 15 years old, you can apply for a learner’s license in the Yukon. The Yukon operates with a Graduated Driver Licensing Program. Let’s take a look at their 3-stage approach from learner, to novice, to a full driver stage.
Learner's license - Stage 1 (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 sign and written test
Pass a vision test
Pay the associated test fees
Display the “L” sign on the back of your car every time you drive
Must maintain zero blood alcohol level
You can’t use a hand held or hands-free device while driving
Your co-driver must hold a valid class 5 license for at least 2 years
Novice Stage (Stage 2) licence (or level two) eligibility criteria:
Complete 50 hours of driving in Stage 1
Must be 16 years old
Must have had your learner’s license for 5 months
Pass a road test
Pay an administrative fee for the road test
Full licence or Stage 3 (or level three) eligibility criteria:
Hold Stage 2 license for 18 months
Apply at any Motor Vehicles Office