Four Things You Should Know About Your Car Insurance

Arm yourself with some basic insurance knowledge for the next time you need to renew your car insurance.
Categories: Personal Insurance
Nov 27th, 2017 | By: Danielle Bains

Auto insurance is simple right? When your insurance is about to expire you visit your insurance broker, sign some papers and then you don’t think about it for another year.

The truth is, there are some important questions your broker should ask to make sure you have the right coverage. Arm yourself with some basic insurance knowledge for the next time you need to renew your car insurance. Here are four things you should know:

1. Third Party Liability coverage

Third Party Liability coverage protects you when you’re at fault in a crash and another driver makes a claim against you. In British Columbia, your mandatory Basic Autoplan from ICBC covers up to $200,000 of their injury costs and vehicle damage. Often, liability claims can exceed $200,000, and if you don’t have enough coverage you could be on the hook for the difference. That’s where optional Third Party Liability coverage comes in. Your Capri Insurance agent will ask you how you use your vehicle and will recommend the right amount of third party liability coverage.

2. Collision coverage

Collision is an optional coverage that pays for your vehicle repairs, towing, storage and more, even if the accident was your fault. It covers your repair costs when you hit another vehicle, object or the surface of the road. Basic Autoplan coverage from ICBC does not include any collision coverage.

If you’re at fault in a crash and don’t have collision coverage, you’ll have to cover the cost of fixing your vehicle.

3. Comprehensive coverage

Theft, rock chips, hail—a lot more can happen to a vehicle than just a crash. Comprehensive covers loss or damage to your vehicle from:

  • Theft and vandalism
  • Fire, earthquake, explosion
  • Falling or flying objects such as a rock or gravel hitting your windshield
  • Hitting a domestic or wild animal
  • Weather—lightning, windstorm, hail, rising water
  • Your Capri Insurance agent will be able to go over all your options for comprehensive coverage

4. Underinsured Motorist Protection

If the driver who’s responsible for your crash doesn’t have enough coverage to pay for your claim, that’s where Underinsured Motorist Protection comes in.

Basic Autoplan from ICBC includes some Underinsured Motorist Protection and provides coverage for:

You and members of your household when you own or lease a vehicle.
Claims of up to $1 million per person if any of these people are injured or killed in a motor vehicle as a driver, passenger, or as a pedestrian or cyclist.
Many people increase their amount of Underinsured Motorist Protection. Depending on where you drive, you could be more at risk. For just $25 per year, you can increase your Underinsured Motorist Protection to $2 million.

Insurance is complex and your auto insurance is no different. It’s your insurance broker’s job is to make buying the best coverage easy by asking the right questions and providing the right advice.

If you have a question about your coverage, contact us at, call 1-800-670-1877 or find a CapriCMW office near you.

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