Once you step inside the car and take the driver’s seat â?? chances are that ill fate befalls you. Incidents like damage, injury â?? or even death can occur. In Canada, possession of car insurance by a car owner is mandatory if you wish to drive on public roads. Car insurance also shields you from unwarranted situations and impending financial liabilities.
In Canada there is a mandatory minimum liability insurance clause that requires an individual to have coverage for 0,000, except for the city of Quebec where one should have a minimum of ,000. However it is advisable that you have auto insurance that provides liability coverage over the minimum amount. This allows you to comfortably pay for the damaged car and also for the damages awarded by the court in the event that your car hits a person or damages property. As it is necessary to have car insurance in Canada, insurance companies have mushroomed in the country. You can get the coverage in exchange of a nominal amount, popularly known as â??premiumâ?? which you pay to the insurance company at the end of certain predetermined periods, say a year. The higher the coverage, higher will be the premium.
