Have you ever noticed how most publications often choose to focus on only the larger provinces, such as Ontario, Quebec, and Alberta, leaving out smaller provinces entirely? It happens all the time, but today we decided to close this gap and provide insight into car insurance in Nova Scotia.
What’s the average car insurance in Nova Scotia?
The average costs of car insurance in Nova Scotia are significantly lower than many of the other provinces: $91/month ($1,093/year), compared with the average auto insurance rates in Alberta of $114/month ($1,371/year), or the exorbitant costs in Ontario which run around $160/month ($1,916/year).
Similar to the rest of Canada, younger drivers in Nova Scotia pay more than those in older age segments. Those aged 25-30 years old pay on average $103/month ($1,241/year), whereas those aged 46-50 pay on average $81/month ($976/year). Older segments, such as 61-65 pay even less, around $73/month ($878/year). The youngest drivers, typically younger than 25, pay the highest rates of car insurance in Nova Scotia, of approximately $210/month ($2,522/year).
There is also a difference in the premiums paid by men and women, with men paying on average $94/month, and women’s premiums typically falling to around $88/month. These figures do not speak to which gender has the more capable drivers, but rather indicates who causes the more expensive auto insurance Nova Scotia claims.
Nova Scotia car insurance options
Here is some interesting analysis of the vehicle coverages most frequently selected by drivers.
- Those who choose only the minimal coverage required by law (e.g. liability) need to pay an average of $69/month. This coverage would not cover any damages to your vehicle, but would only cover a 3rd party’s claim/costs in the case of an accident. This type of coverage is meaningful for older cars which you might not consider repairing if damaged.
- Should you be leasing a car, minimal coverage is not permitted and you should be looking into medium coverage, which offers liability, collision, and comprehensive damage protection. This would cost around $93/month. Should you be looking into a more extensive coverage than this, you would find that more comprehensive policies include an increased accident benefit than the average car insurance Nova Scotia policies; premiums climb up to $104/month. Given the small premium payment difference between medium and extensive coverage, it is highly recommended that you consider extensive coverage – a few dollars saved are definitely not worth the extra risk.
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One aspect that strongly impacts your premiums is your driving record. Those with no violations within the last 6 years will easily drive your average car insurance Nova Scotia premiums down to $84/month ($1,002/year). Having a maximum of two violation in the last three years makes your car insurance premiums skyrocket to $189/month, resulting in a large annual amount of $2,273 in car Insurance costs.
InsurEYE helps you with car insurance
These insights into car insurance in Nova Scotia are provided by InsurEye, the largest Canadian online insurance review platform that allows Canadians to benchmark their vehicle, home, and life insurance costs.