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Auto insurance : how to choose to be well protected?

Even if the Société de l’assurance automobile du Québec (the “SAAQ”) insures all Quebecers against injury damage, it is up to you, as the owner of a vehicle, to ensure that you have good car insurance. How to choose the best protection? How can you ensure that you are properly compensated following an accident? Which car insurance to choose? Your M2 Assurance broker can provide you with information.


Why should you take out private insurance?

The public insurance plan offered by the SAAQ covers bodily injury (injury, death) regardless of fault; this is called “no fault”. With this plan, you are compensated if you are injured in an accident, whether or not you are at fault.


Private insurance: an obligation under the law

When it comes to auto insurance, you must have at least $50,000 in liability insurance. This insurance allows you, as the popular expression goes, to be insured “on one side”, i.e. only for material damage to others for which you are liable and for bodily injury not covered by the SAAQ. This insurance does not cover damage to your vehicle.


This insurance alone will obviously not be enough to protect your vehicle from theft, collision, fire or vandalism. You must have a second coverage, an “optional private insurance”. The law does not require you to have one, but common sense – and your broker M2 Insurance! – strongly recommends it. Ideally, you should take out insurance covering collision, non-collision damage (fire, vandalism, flood, theft, etc.) and specific risks. Your insurance broker can advise you on the coverage that best suits your vehicle and your needs.


The price of your premium

The amount you pay for your car insurance depends on several factors that influence the risk you represent as a driver. Young people, drivers who live in downtown areas or neighbourhoods where the risk of theft or vandalism is higher, as well as people who have already made claims or caused accidents, will necessarily pay more.


The premium will also be influenced by endorsements, which are a bit like accessories that you add to your contract and for which you pay a supplement. The amount of the deductible, i.e. the amount you will have to pay out of your pocket in the event of a claim, will also make a difference in the amount of your premium. The higher the deductible, the lower your premium will be. Ask your M2 Insurance broker to find you the best coverage at the best price. That’s what he does for a living!