Compare Abbotsford Car Insurance Quotes for 2024
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Discover the methodologyHaving a hard time navigating the car insurance Abbotsford policies? Wondering how it all works? Let's break it down for you.
Abbotsford, BC, operates with its unique auto insurance system through ICBC, offering mandatory coverage for all drivers. But what about optional coverage? Find out where you can get collision, comprehensive plans and roadside assistance.
And if you’re on a budget, we have tips on how you can save. From maintaining a clean driving record to exploring discounts, we'll help you trim those premiums. You can also use our free comparator to compare quotes tailormade for you.
Car Insurance Abbotsford: 5 Key Takeaways
- ICBC provides essential insurance covering medical expenses and basic liability.
- Private insurers offer extra coverage options like collision protection.
- Premiums depend on several factors, averaging $1,832 yearly.
- Traffic congestion and theft rates contribute to Abbotsford's elevated insurance costs.
- Maintain a clean record and explore discounts to reduce expenses.
Car insurance Abbotsford: How does it work?
It works a bit differently than other provinces in Canada. Insurance Corporation of British Columbia (ICBC) is the public auto insurance provider in Abbotsford.
It offers basic insurance, which is mandatory for all drivers. This covers things like medical expenses and basic vehicle damage liability.
- While ICBC offers some optional coverage, you can also purchase additional coverage from private insurance brokers or companies.
- This additional coverage can include things like collision and comprehensive coverage for your vehicle, accident forgiveness and even roadside assistance.
To find the best car insurance in Abbotsford, talk to a local insurance broker or use our comparator — and compare quotes from different providers. Our tool below is free to use and helps you find the best deals on car insurance.
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Car insurance Abbotsford: What does mandatory coverage include?
Mandatory Abbotsford auto insurance focuses on protecting others on the road and yourself in case of an accident. Here's what it typically covers:
- Third-party liability: Covers medical expenses and property damage caused by you to others, including pedestrians and passengers in other vehicles, if you're at fault in an accident.
- Accident benefits: Helps cover medical costs, wage loss and rehabilitation expenses for you and your passengers if you're injured in an accident, regardless of who's at fault. There are limits to this coverage — understand the details of your policy.
- Uninsured motorist protection: If you're in an accident with a driver who doesn't have insurance, this coverage can help compensate you for medical expenses, vehicle damage and lost income.
Good to know
While BC's mandatory insurance plan offers basic third-party liability coverage of $200,000, you can extend this coverage up to $5 million through either ICBC or a private insurer.
Car insurance Abbotsford: What is optional coverage?
Optional car insurance in Abbotsford goes beyond the mandatory basic coverage provided by ICBC. It allows you to customize your plan for additional protection in various situations.
ICBC optional coverage
- Extended third-party liability: The mandatory plan offers a set limit for covering damage you cause to others. Extended liability increases that limit, providing more financial protection if a serious accident occurs and the costs exceed the basic coverage.
- Loss of use: If your car is undrivable due to an accident or covered peril, this coverage reimburses you for daily rental car expenses until your vehicle is repaired or replaced.
- Rental vehicle coverage: This covers damage you cause to a rental car that's not covered by the rental company's insurance.
- Non-collision coverage (comprehensive): This protects your car from damage caused by events other than collisions with another vehicle. Examples include theft, vandalism, fire, weather events and hitting an animal.
- Specified perils coverage: This is a more limited option compared to comprehensive coverage. It protects your car against certain perils explicitly listed in the policy, such as fire, theft or hail damage.
Private insurance optional coverage
In addition to ICBC's offerings, private insurance companies can provide further coverage options:
- Collision coverage: This covers repairs to your vehicle if it's damaged in a collision with another object or vehicle.
- Limited depreciation or replacement cost coverage: Standard policies factor in depreciation when calculating payouts for a totalled vehicle. Optional coverage from private insurers can offer a payout closer to the car's actual cash value at the time of the accident.
- Additional accident forgiveness: Having at-fault accidents can increase your premiums. Optional accident forgiveness from private insurers might help prevent your rates from going up after a certain number of accidents.
How much does car insurance cost in Abbotsford?
On average, you can expect to pay $1,832 per year — or about $150 per month — for your car insurance Abbotsford premiums.
The mandatory insurance provided by ICBC has set rates, but optional coverage can vary depending on several factors, including:
- Your driving history: A clean driving record with no accidents or tickets will result in lower premiums.
- The make, model and year of your car: Generally, newer, more expensive vehicles cost more to insure.
- Your age and location: Younger drivers and those living in areas with high accident rates typically pay more.
- The amount of coverage you choose: More comprehensive coverage with higher limits will naturally cost more.
- Your annual mileage: Drivers who drive less often may qualify for lower premiums.
To get a better idea of costs, you can use the ICBC Rate Calculator or our comparator.
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Why do car insurance Abbotsford premiums are so high?
There are a couple of reasons why car insurance rates are a bit higher in Abbotsford compared to other areas:
Higher claim rates! Abbotsford has factors contributing to a higher number of insurance claims. For instance, it has:
- Congestion and traffic: Busy roads and complex intersections can increase the chance of accidents.
- High theft rates: If Abbotsford has a higher theft rate for vehicles, this can drive up insurance costs.
Moreover, we have limited competition in Abbotsford. Unlike most of Canada, British Columbia has a public auto insurance system through ICBC.
The government is working on introducing more competition, but currently, there are limited options for private insurers. This lack of competition can potentially lead to less pressure to offer lower rates.
Who offers the best coverage for car insurance in Abbotsford?
As you know, ICBC offers mandatory coverage and some optional ones, while private insurers provide additional options. The best depends on how much coverage you need beyond the mandatory.
For instance, the best coverage for someone with a new car will differ from someone with an older vehicle. Consider factors like your car's value, driving habits and risk tolerance while making a choice.
That said, here are some reputed private insurers you can explore for options coverage:
- Intact Insurance
- TD Insurance
- Pafco Car Insurance
- Aviva Insurance
- Sonnet Car Insurance
Car insurance Abbotsford: What is the best way to save money?
The best way is to maintain a good driving record! A clean driving record with no accidents or tickets is one of the biggest factors influencing your premium. Practice safe driving habits to avoid incidents that can increase your insurance costs.
Here are some other ways to save money on your car insurance Abbotsford premiums:
- Increase your deductible: Choosing a higher deductible lowers your premium. However, only choose an amount you can comfortably afford in case of an accident.
- Take advantage of discounts: Many insurance companies offer discounts for things like:
- Taking defensive driving courses
- Bundling your home and auto insurance
- Being a low-mileage driver
- Having good grades (for young drivers)
- Being a member of certain professional organizations or alumni groups
Explore ICBC and private insurer websites or ask brokers about available discounts.
- Review your coverage regularly: Your insurance needs might change over time. As your car ages or your driving habits change, review your coverage to ensure you're not paying for unnecessary extras. Consider dropping collision coverage for an older vehicle.
- Pay your premium annually: Some insurers offer a discount for paying your premium in full upfront instead of monthly installments.
- Consider usage-based insurance (optional): This type of insurance uses telematics technology to track your driving habits. Safe drivers with low mileage may qualify for lower premiums.
And don’t underestimate the power of shopping around and comparing quotes.
Don't just stick with ICBC for optional coverage. Get quotes from private insurance brokers and companies as well. Comparing quotes allows you to see the range of prices available and find the most competitive rate.
Use our comparator and start exploring your options.
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