Collision, specified perils, comprehensive and all perils are among the additional coverages available for your vehicle. In general, these coverages are very similar across the country.
Established by provincial and territorial governments, mandatory auto insurance is the minimum amount of coverage every vehicle owner must have. In addition to basic coverage plans, you may want to add one or more of the following options to your existing policy:
- Collision: Your vehicle flips over on the road and is damaged. You lose control of your vehicle on icy asphalt and hit a guardrail. This coverage pays for damage to your vehicle caused by upset or a collision with another object.
- Specified Perils: Your vehicle is stolen and never recovered or recovered with substantial damage. Fire engulfs your next-door neighbour’s house, spreads to your garage, and destroys your insured car or truck. Specified perils will pay only for losses caused by perils specifically listed in your policy:
- Fire.
- Theft or attempted theft.
- Lightning.
- Hail.
- Rising water.
- Earthquake.
- Windstorm.
- An explosion, riot or civil disturbance.
- The falling or forced landing of aircraft or parts of aircraft.
- The stranding, sinking, burning, derailment or collision of any kind of transport in, or upon which, a described automobile is being carried on land or water.
- Comprehensive: High winds cause flying debris that damages your car. Vandals break into your garage and damage your truck. Comprehensive coverage includes all perils, except for collision, or upset of the automobile, or damage caused by theft by a person residing with your or who repair your car.
- All Perils Car Insurance: If damage is caused while your vehicle was stolen by someone in your household or someone you’ve hired to drive your vehicle (e.g., an employee), with all perils, this would be covered.
Your Policy Confirms Your Insurance Coverage
Loss or damage coverages are subject to limits, deductibles and exclusions that apply in all circumstances. The examples above are provided as general information only. Please review your auto insurance policy and talk to your insurance representative for information about your auto coverage.
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