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How much car insurance coverage do you need?

Determining the right amount of car insurance can be tricky. Desjardins Insurance is here to help with answers to your questions.

Your Desjardins Agent can also talk you through the various coverage options available and help you determine the amount that’s right for you.

How high should the auto liability coverage limits be on my car insurance?

Every province sets a minimum coverage level. Selecting more than the minimum coverage would increase your cost now but potentially give you more protection in case of an accident.

Since it's impossible to know the most you'd have to pay if you were to cause an accident that resulted in bodily injury or property damage, be sure to take some time and consider whether you'd be able to afford any damages that exceed your insurance coverage.

The higher your limits, the more likely it is that we'll be able to pay all of the damages for you.

How high or low should my collision auto insurance and comprehensive deductibles be?

Higher deductibles lower your premium but increase the amount you must pay out of your own pocket if a loss occurs.

Ask yourself how much you would be willing and able to pay on short notice in order to save on your premium.

Should my auto insurance include collision and comprehensive coverage?

You may be required to carry collision or comprehensive coverage if your vehicle is leased or financed.

Once you’ve paid off your car, and its value decreases, you might consider dropping these coverages to save money on your auto insurance.

Consider whether the savings would be enough to offset the risk of having to pay the entire cost of repairing or replacing the vehicle.


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