All The Different Types Of Car Insurance Coverage Policies Explained Even better. liability car insurance. state minimum. $100,000 per person for bodily injury liability. $300,000 per accident for bodily injury liability. $100,000 for property damage. $250,000 per. Umbrella policies provide a minimum of $1,000,000 in liability coverage above and beyond your standard auto insurance liability limits. gap insurance. gap insurance typically covers the difference between the value of your car and the balance of your car loan if your vehicle is totaled. this prevents you from having to make payments on a loan.
Auto Insurance Guide Understanding Car Insurance Coverage Liability limits are often listed in a format such as “25 50 15.”. using that example of 25 50 15, your insurer would pay $25,000 per person and $50,000 per wreck for injuries you’re. By choosing a higher deductible, you could save a substantial amount on your monthly premiums. typical deductions range from $500 to $5,000 — the higher the deductible the cheaper your insurance. Methodology: above are two tables outlining the average cost of car inurance in toronto for both a male and female g licensed policyholder, driving a 2024 honda civic ex. . assuming the drivers have a clean record, we are able to calculate average auto insurance premiums by age using our rate calculator – all ranges and averages are representative of the three lowest quotes offe. On average, canadian drivers spend $1,142 per year on car insurance. drivers pay the most in british columbia (where the average cost is $1,832 per year) and the least in quebec ($717 per year.
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