Who sets auto insurance rates in the Northwest Territories?
The Northwest Territories has a private insurance market, which means individual insurers set rates.
What factors determine auto insurance rates in the Northwest Territories?
Auto insurance rates in the Northwest Territories are determined by a variety of factors:
- Driving record
- Type of vehicle
- Age and gender
- Amount of coverage selected
- Use and location of your vehicle
- Number of years behind the wheel
How do Northwest Territories auto insurance rates compare to other provinces?
Auto insurance in the Northwest Territories is fairly cheap compared to the majority of the country. The territory currently ranks 7th for the highest average auto insurance rates in Canada.
Average auto insurance rates by province
|Newfoundland & Labrador||$1,168|
|Prince Edward Island||$816|
Source: Insurance Bureau of Canada, 2019, "BC - Better Auto Insurance."
*Source: Insurance Bureau of Canada, 2017
Will auto insurance rates in the Northwest Territories go down anytime soon?
Auto insurance premiums in the Northwest Territories have been trending modestly higher recently.
How can I get cheap auto insurance in the Northwest Territories?
There are many ways to get cheap car insurance in the Northwest Territories:
- Use winter tires
- Pay premiums on time
- Maintain a good driving history
- Choose the right insurance coverage
- Compare quotes online at LowestRates.ca
- Complete a certified driver training program
- Insure all your vehicles with the same company
- Bundle your home insurance with your auto insurance
Is auto insurance required in the Northwest Territories?
Yes. You're required to obtain a minimum, mandatory level of insurance coverage in the Northwest Territories.
What is the minimum requirement for auto insurance in the Northwest Territories?
Basic coverage in the Northwest Territories includes the following:
- Third-party liability insurance ($200,000): covers both bodily injury and property damage. Within this amount, property damage will be capped at $10,000. Most drivers opt for more coverage than the mandated minimum.
- Medical coverage: up to $25,000 per person.
- Hit-and-run coverage: up to $200,000.
- Funeral expense benefits: up to $1,000.
- Disability income at 80% of gross wages: up to $140 per week. This coverage runs for up to 104 weeks.
- Death benefits: up to $2,000 per dependent, or $10,000 for the head of the household or their spouse.
What kind of auto insurance system does the Northwest Territories have?
The Northwest Territories operates on a hybrid no-fault system. Your auto insurance plan includes third-party liability coverage, but you can still sue an at-fault party for additional compensation in excess of the standard no-fault benefits if your damages warrant such action.
What are the penalties for driving without insurance in the Northwest Territories?
If you're convicted of driving without insurance in the Northwest Territories, you'll face a fine of $500 to $50,000. Repeat offenders could face jail time.
What's the minimum legal driving age in the Northwest Territories?
You need to be at least 15 years old to apply for your learner's licence in the Northwest Territories.
But getting a full licence in the Northwest Territories is a three stage process:
Stage 1 (Class 7): To earn your stage 1 licence level in the Northwest Territories, you must successfully pass a vision test and a written rules of the road test. You're required to stay at this stage for 12 months.
How do I get a probationary licence in the Northwest Territories?
Stage 2 (Class 5P): After holding your stage 1 licence for 12 months, suspension-free, you're eligible to take the stage 2 road test. Once you successfully complete this test, you'll get your stage 2 licence. But, just as in stage 1, you have to stay in this stage for another 12 months.
How do I get a full licence in the Northwest Territories?
Stage 3 (Full Class 5): After holding your stage 2 licence for 12 months without any suspensions, you're eligible for your full stage 3, Class 5 licence.