Pei Car Insurance

Vehicle owners who reside in Pei or Prince Edward Island are also mandated to buy car insurance before their vehicles can be registered. And like any other place in Canada, there is a mandatory minimum car insurance in Pei.

Mandatory car insurance

The mandatory car insurance in Pei has certain coverage that every vehicle owner must have. Coverage for third-party liability is at $200,000 for any accident. And if property damage is also included, coverage for this is up to $10,000. Income replacement for partial disability due to the accident will have you covered for 104 weeks. On the other hand, total disability will cover you for the rest of your life. Funeral costs up to $1,000 are also covered by the insurance company. If the head of the family dies, the spouse is entitled to $10,000 and each dependent child is entitled to $1,000. For the death of a dependent, the family is entitled to receive $2,000. These are just examples of the inclusions in a mandatory car insurance.

Additional car insurance

Many Pei residents buy additional car insurance. The main benefit of buying additional car insurance is increase in the coverage limit. For example, you can considerably increase your income replacement benefit by purchasing additional car insurance. In fact, there are different kinds of car insurance policies because private companies are competing for customers. You can also buy additional car insurance which has coverage for vandalism, theft, and collision. Whichever additional car insurance you choose to purchase, it is always best to compare prices and policies from different companies.