How car insurance works in Canada

Car insurance is mandatory in all provinces and territories.There are serious consequences for driving without insurance. These include having your license suspended, your car impounded, and fines. In Ontario, the fines range from $5,000 up to $50,000; in Alberta, they range from $2,875 up to $20,000.Plus, your insurance premiums will increase (the larger the fine, the more significant the increase).So why aren’t other forms of insurance, like life and home insurance, not legally required? Car accidents take a toll on society. Without mandatory insurance, victims likely wouldn’t be able to access crucial support. Having a clear system for resolving disputes also ensures the courts don’t get tied up, too.

Regulation at the federal and provincial levels

Insurance is regulated at both the federal and provincial levels.The vast majority of the property and casualty insurance industry is federally regulated. The Insurance Companies Act governs all federally incorporated or registered insurance companies in Canada.The Financial Consumer Agency of Canada (FCAC) is responsible for administering sections of the Act that deal with consumers’ rights and monitoring insurance companies’ compliance with the law.The Office of the Superintendent of Financial Institutions (OSFI) regulates the solvency and financial soundness of property and casualty insurance companies.Then, each province and territory have their own Superintendents of Insurance. These bodies regulate the products offered by insurers and their conduct in the marketplace (underwriting, rating, and marketing practices, as well as their handling of claims). The Financial Services Regulatory Authority of Ontario (FSRA) regulates the car insurance industry in Ontario. The Alberta equivalent is the Alberta Automobile Insurance Rate Board (AIRB).Private vs. public car insurance marketsCanada has a patchwork of insurance markets. The provinces get to decide what delivery system they want, which is why some have private insurance markets (where you buy insurance directly from a company of your choice), and others have public insurance funded by taxpayers.In the public system, insurance is dispensed by a Crown corporation (B.C., Saskatchewan, and Manitoba). Enrolment is automatic when you register a vehicle.Quebec’s system can be described as quasi-public. Here, the public insurer only regulates insurance for bodily injuries, while physical damage and liability are provided by private insurers.Provinces with private auto insurance systems (Ontario, Alberta, all the territories and Atlantic provinces) have laws preventing drivers with less than stellar driving and insurance records from being refused insurance coverage. This is called an all-comers rule.The all-comers rule aims to stamp out business practices that dissuade troubled drivers from getting a quote.That said, if you have poor driving and insurance histories, your insurer might bring you on as a customer — but your premium will be much higher than the average driver’s.The differences between provinces don’t stop there.

Tort vs no-fault insurance

Tort insurance was once the dominant claims resolution methodology in Canada.A tort is a legal concept for civil wrongs that inflict pain and damage to another person due to negligence.

Under a tort auto insurance system, some insurance accident benefits are included in a standard policy, but they’re limited in comparison to the benefits in no-fault systems. If you’re injured by someone else’s actions, you must sue to cover your expenses.

No fault coverage means you get comprehensive benefits regardless of who’s at fault for causing the accident. In exchange, your right to sue for pain and suffering is limited.

Ontario, Nova Scotia, New Brunswick, Quebec, P.E.I., and B.C. operate under a no-fault system.

To this day in Saskatchewan, you can decide whether you want a tort or no-fault accident benefits package.

Alberta doesn’t fit into either the no-fault or tort category, either. It is a primarily tort-based system with some facets of a no-fault one. In 2022, the province introduced direct compensation for property damage (DCPD), which means your insurance company will pay for repairs to your vehicle if you’re not at fault for a collision (no need to get lawyers involved). This type of coverage is usually only found in provinces with no-fault frameworks.

On the other hand, you can sue the at-fault party for damages in Alberta (a hallmark feature of the tort approach).

Geography and auto insurance

To get even more granular, insurance premiums are dictated by geographical boundaries.

Most insurance companies use postal codes to determine the boundaries. However, the province can get involved and set restrictions on rating territories.

Types of car insurance coverages in Canada

Since you can’t legally operate a car without insurance in Canada —driving is an inherently risky activity — auto insurance policies are tightly regulated and standardized.

However, the provinces get to determine what constitutes mandatory and optional coverage.

The maximum amount an insurer will pay to an insurance policyholder varies in each province and territory.

Broadly speaking, liability and accident coverage is mandatory in most provinces, while insurance that covers damage to the body of the car and personal effects is optional (with some exceptions).

Insurance endorsements are a kind of optional coverage. They’re policy change forms that alter standard policies in ways that optional products don’t. Endorsements can enhance or reduce your existing coverage.

See the mandatory coverage for your province here.

Mandatory insurance

• Third-party liability: This benefit covers you from claims from a third party when you have an at-fault accident. It protects you if you cause damage to someone else’s property, bodily injury or death.
• Direct compensation property damage: This covers damage to your vehicle if the other person was responsible for the accident. Your car insurance company compensates you.
• Uninsured automobile protection: Provides extra coverage if you’re in a collision with a driver that does not have third-party liability coverage.
• Accident benefits: Protects you from injury in a collision, whether you are the driver, a passenger, pedestrian or cyclist.

Optional insurance

• Collision: This coverage protects your vehicle against damage from a collision with another car. Your insurer will pay to repair or replace your vehicle if you are at fault
• Comprehensive:  Covers damage to your vehicle that wasn’t caused by a collision, like theft, hail, vandalism, and more.
• Specified perils: This coverage protects against damages caused by named perils, such as theft, attempted theft, explosions and natural disasters like fire or lightning. Only risks specified in the policy are covered.
• All-perils: This coverage is a combination of both collision and comprehensive insurance. All-perils coverage protects your vehicle from all causes of loss except those directly mentioned as exclusions in your policy. It also provides additional protection if your car is stolen or damaged by another driver.

Endorsements  

• Suspension of coverage: This allows you to suspend your insurance coverage for 30 days or more during periods when you aren’t using the car.
• Transportation replacement: Provides compensation to pay for other means of transportation if your car is unusable due to a covered risk.
• Liability for damage to non-owned automobile(s): Covers damage caused to a rented or leased car.
• Accident forgiveness: Ensures your premium will not increase after your first at-fault collision for as long as you remain with the same insurer.
• Waiver of depreciation: Ensures your insurance company won’t factor in depreciation when settling a claim; you will receive the amount you initially paid for the car.
• Family protection coverage: Ensures your costs are covered if you and your family are involved in an accident with a driver with less liability insurance than you. This endorsement will cover the remainder.
• Limited glass: For a lower premium, you can limit or exclude any coverage for glass damage that might’ve been in your policy.
• Fire and theft deductible: Adds a deductible (an amount you must pay before your insurance company chips in funds) for a theft or fire damage claim.

*BREAKING NEWS!!!​* *OSIBANJO STEPS DOWN.*

*BREAKING NEWS!!!​*

*OSIBANJO STEPS DOWN.*

The Vice President of the Federal Republic of Nigeria Yemi osibanjo​ has finally stepped down. It has just been announced on TVC news, BBC news, AIT and NTA news. 

He stepped down from his car today in front of his office to continue his office task. He is such a hardworking Man.

Thank you for your attention. Tension will  not kill us .

Now go back to whatever you were doing. Just for Laugh, Have a nice day.....

Burna Boy says he was very relieved when he won the Grammy

 

The Grammy award winning artist emphasizes that musicians on the continent should continue telling African stories.

Burna Boy won a Grammy on March 14, 2021 (BBC)

Damini Ebunoluwa Ogulu, better known as Burna Boy, has spoken of the palpable relief that swept through him when he won the Grammy in the Best Global Music Album category on March 14, 2021.

“I felt very relieved, a lot of relief because I deserved it,” Burna Boy says straight-faced in an interview with the BBC. "So if I didn't get it when I was hoping, a situation wouldn't happen where it's like I wouldn't get what I deserve again, you know?" he adds, referencing the previous year when he missed out on winning the award.

Burna Boy hit the music scene in 2012, after releasing his debut album L.I.F.E. He realised afterwards that his music touched a number of people and transcended several cultures.

“It’s bigger than me and that’s when it kind of hit me that this is not a hobby anymore, you used to do this on the streets and everyone would be going crazy, but now I don’t see anyone better than you so it’s like this is serious now,” he says.

On the impact of winning a Grammy for him and other African artists, he says “it just shows....like you know, anything is possible and whatever situation you may be in, and whatever environment you find yourself does not really determine your future and what you are going to do.

"It doesn’t stop you from not just considering your dreams, you know. 'Cause at the end of the day, we are in an environment that is very discouraging; you understand, an environment that doesn’t even believe in itself before they even think of believing in you.”

Burna Boy also spoke of why the album that won him the Grammy was so important for him and why African artists should continue telling their own stories.

“It’s always important for me to make music and bodies of work as much as possible because for me that is what will be left behind when I’m not here.

"That’s going to be my footprints on the world. I believe at every step of my life to create a body of work that narrates and explains that time of my life.

"Because our stories have always been twisted and told and most of the time our stories have been twisted into the western world and then white faces have been put on the real characters; do you understand?

"Now is the time to overturn all that because finally we have a generation of Africans who is not going to stand for that. You understand?

"So what better time to start to do, to change the narrative back into the truth," he adds.

Which continent do you plan on traveling to after the covid19 pandemic

It's poll time baby!
Let's see the continent that will get the highest number of votes.

Travelling for business or pleasure?

I guess the covid19 pandemic has halt many travelling plans this year.

But, I know some of us have plans to travel after the covid19 pandemic. So let's get the ball rolling!
Which of the continent do you plan on traveling to after the covid19 pandemic?
You can tell us the actual country in the comment below.
Happy polling!

How many trips did you take in the past year

See the number of times people travel in a year.

Travelling for business or pleasure?

I guess the covid19 pandemic has halt many travelling plans this year. 

So tell me, I mean us😀

How many times did you travel last year?

REGISTRATION PROCEDURES IN NYSC CAMP FOR BATCH 🅰 2020 – {COMPLETE GUIDE}

This information below is a very important one that will set you up and give you accurate information about registration in Camp and show you how to get started.

🔰 GATE CHECKPOINT: You would be requested to tender your Call-Up Letter then the Security will search your luggage once you’re cleared they will give you a Tag number. (Some camps might not give you)

📍 NOTE:
❇ Don’t go with foodstuff, they will only permit provisions and Garri
❇ Don’t go with Laptop, they will Seize it and return it on the last Day of the Camp
❇ Don’t go with cutleries like fork and knife
❇ Don’t go with weapons or a Car.
❇ Don’t go with Gass or Stove

🔰 ACCOMMODATION: After the Gate Checkpoint, go to where you would be allocated a hostel and bed space. the tag number given to you by the security men at the gate would be collected here, then you will write your name.

After taking out the camp required documents, locate your bed space and proceed with your registration.

VERIFICATION OF DOCUMENTS Original documents and at most five photocopies of each would be requested:
✳ Call-Up Letter ✅
✳ Green Card ✅
✳ School 🆔 Card ✅
✳ Statement of result ✅
✳ Certificate of Medical Fitness ✅


🔰 BIOMETRIC REGISTRATION : If Your thumbprint matched with what you did during registration, then they will determine the platoon you belong. Then you will be given,

✍🏽Camp Corps Member
✍🏽Registration Slip and Temporary 🆔 Card,
✍🏽Certificate Format
✍🏽Performance Report Form
✍🏽Bio-data Form.

📍 NOTE
Make two photocopies of the Slip and keep the slip for further use.

Check the last digit number in your state code. It ranges from 0 to 9.

📍0 is platoon 🔟
📍1 is platoon 1⃣
📍2 is platoon 2⃣
📍3 is platoon 3⃣
📍4 is platoon 4⃣
📍5 is platoon 5⃣
📍6 is platoon 6⃣
📍7 is platoon 7⃣
📍8 is platoon 8⃣
📍9 is platoon 9⃣

🔰 PLATOON: All platoon will be Directed to gather at different Locations.

Locate your platoon with the camp corps member registration slip, Green Card, Call up letter, statement of result, file, Meal ticket, and NYSC Kits.

🔰 OPENING OF BANK ACCOUNT: All PCMs must open a new Bank Account in camp to receive your monthly allowance.
You will need your BVN number.
In order to know your Bank Verification Number (BVN), thanks to the easy methods, you can now check your BVN number code on your mobile phone. Just dial *5650#* to check your Bank Verification Number (BVN).