North West Territories Car Insurance

Are you a resident of the North West Territories? Each province in Canada has specific regulations concerning car insurance. What car insurance must you have if you live in the North West Territories?

Mandatory car insurance

Residents of North West Territories are required to purchase the mandatory third-party liability insurance coverage amounting to $200,000 for any accident. If you are being sued for both damage to property and people, $10,000 is added to cover for the damage to property. Other inclusions to the minimum car insurance are medical costs amounting to $25,000 for 4 years; funeral costs amounting to $1,000; and disability income replacement amounting to 80% of salary before taxes up to $140 per week for the duration of 104 weeks. Death benefits include entitlement of your spouse to $10,000. Plus, each dependent child is entitled to $2,000. If there is only one surviving spouse, child, or dependent, the total amount to be received will become $11,500.

In the North West Territories, the minimum car insurance can be purchased from any of the private companies. In situations where a car owner finds the insurance policy lacking some coverage, the car owner can also buy additional car insurance.

Additional car insurance

The additional car insurance is being purchased by many residents of North West Territories. Many private insurance companies are continuously creating many new products to attract more clients. The additional car insurance can include coverage against fire, theft, storms, flooding, and the like.