Car insurance is something that all of us at some point have to deal with because we need to pay for the protection of our vehicles. If you struggle to find used car insurance in Canada, fret no more. Here is everything you need to know when purchasing used car insurance.
The cost of insuring a used car in Canada varies greatly and depends on numerous factors, including:
Your credit score will also affect the cost of your vehicle insurance rate. The better your credit score, the lower your premiums will be. It’s worth noting that Albertans pay the highest car insurance in Canada, according to a report by Ernst & Young. So, plan accordingly.
Yes, used car insurance often costs less than new car insurance. A vehicle’s value depreciates over time, and since older cars are usually worth less, the cost to insure them is typically lower. However, the exact amount you will save depends on the car’s make, model, and age. Keep in mind that the liability insurance cost (which covers damage you inflict on others in an accident) will likely remain the same regardless of the car’s age.
You will generally need the following documents when insuring a used car in Canada.
Having details of any modifications or repairs the car has undergone is also a good idea. This can influence the cost of your insurance premium.
Canadian law requires motorists to have at least a basic level of auto insurance when you buy used cars in Calgary. Beyond that, you can choose from several optional coverages based on your needs and budget. Here are the main types.
This is the mandatory minimum insurance in all Canadian provinces and territories. It covers any damage you cause to other people or their property in an accident.
While optional, collision insurance is worthwhile for many drivers. It covers the expenses to repair or replace your used car if you are involved in an accident, regardless of who is at fault.
Comprehensive insurance covers losses caused by events other than a collision, such as fire, theft, vandalism, natural disasters, or damage caused by animals.
This coverage pays for your medical costs, rehabilitation, income replacement, and more if you are injured in an accident.
This protects you if you are involved in an accident with an uninsured driver or if you are a victim of a hit-and-run.
With the right car insurance, you can get back on the road and start enjoying your vehicle. Auto insurance is complicated, so knowing what you are getting into is important. We hope this guide will be helpful to you.
Our dealership has been Serving Calgary Alberta since 2013.
We specialize in used cars and always try to get the best deals for our customers.
Award-winning, family owned car dealership of pre-owned vehicles with several locations across the city. Lowest prices and the best customer service guaranteed.
Feel free to contact us and test drive one of our cars today. We value your business. Referrals are welcome and remember we pay cash for referrals.