New Brunswick Car Insurance

There are several factors that can affect car insurance rates in New Brunswick, including:

• Your driving record – If you have a history of accidents or traffic violations, you may be considered a higher risk and could end up paying more for insurance.
• Your age and gender – Certain ages and genders are more statistically likely to be in car accidents, causing insurance companies to charge more for these groups.
• Your location – The location where you live can affect your insurance rates. For example, if you live in an area with high traffic or a high rate of car thefts, you may pay more for insurance.
• Your vehicle – The type of car you drive can also affect your insurance rates. Things such as availability of parts, safety features of the vehicle, likelihood of theft, how often that vehicle is involved in car accidents, and much more can vary your insurance rates.
• Your coverage limits – The amount of coverage you choose can affect your insurance rates. While higher coverages often mean higher premiums, remember that if you choose to lower the coverage to save money on payments, you will end up paying more out-of-pocket in the event of a claim.
• Your deductible – The amount you choose for your deductible can also affect your insurance rates. A higher deductible can mean lower premiums, but you’ll pay more if you end up in a claim situation.

Each insurance company has their own algorithm for determining insurance rates, and trying to find the best option for you can ruffle your feathers. For more information, check out our blog post on why your vehicle insurance may have increased.

Let the licensed and experienced brokers at Cheep Insurance take you under our wing and find the coverage that’s right for you!

How a car accident affects your insurance record depends on a few different details.

• At-Fault Accidents – At-fault accidents do affect your insurance and will likely increase your insurance premium on your next renewal. You can be found partially or fully at fault for vehicle collisions, and they stay on your record for approximately 6 years from the “date of loss” reported. These claims may also affect your ability to change insurance carriers.
• Not At-Fault Accidents – If you are in a vehicle collision and it is determined that another person is at fault, the accident will not be held as a mark against you on your insurance, will not increase your premium, and will not prevent you from getting insurance with another company.
• Comprehensive Claims – Comprehensive claims include fire, vandalism, theft, collision with wildlife, and if you break your windshield. Because these incidents are often beyond your control, they do not affect your insurance record and are not marked against you. Claims resulting from these perils will not increase your insurance premium or ability to change companies – however, if you have frequent glass claims, your insurance company may opt to discontinue your glass coverage.

You can cancel your car insurance at any time – however, you may end up owing the insurance company money after the cancellation. So, how do you know if you will owe money?

Car insurance companies have two kinds of cancellations (these are explained more in detail on our blog post “Can you Cancel Insurance at Anytime?“) short-rate and pro-rata cancellations.

A short-rate cancellation is a term used to describe the cancellation of a policy before its expiration date by the policyholder. When a policyholder cancels a policy before the expiration date, the insurance company charges a fee, which is called a short rate cancellation fee. This fee is calculated based on a short rate table and is usually higher than what the policyholder would have paid if they had kept the policy until its expiration date. The purpose of the short rate cancellation fee is to compensate the insurance company for the expenses it incurred in underwriting and issuing the policy.

A pro-rata cancellation refers to the cancellation of an insurance policy where the policyholder is entitled to a refund of the unused portion of the premium. In this type of cancellation, the refund is calculated based on the number of days left in the policy period. This type of cancellation may be used if your driving record has cleared or increased, and you are able to move from a “sub-standard” to a “regular market” company.

No problem is too big or small for your feathered friends at Cheep Insurance. We’re always here to assist you with your policy, payments, and even cancellations. Just give us a shout at support@cheepinsurance.ca or at 902-463-1675, and one of our experienced brokers will be happy to assist you.

Telematics is a word used by insurance companies that puts together two words you already know – “telecommunications” and “infomatics”. So, what does this have to do with your car insurance policy?

Telematics car insurance is a type of usage-based car insurance that uses technology to track your driving habits, such as speed, braking, and how many kilometers you travel. This technology is typically either a “dongle” installed in your car, or uses a mobile app. The data collected is then used to determine your insurance rates and provide potential discounts.

The idea behind telematics insurance is that safer drivers and drivers that do not travel as much, should pay less for insurance, as they are less likely to get into accidents. So, if you’re a safe driver (or maybe you work from home and don’t drive often!) reach out to our flock at Cheep Insurance to see if you’re eligible for a telematics policy.

Want more info? Check out our blog “What is telematics insurance? How does telematics work?”