Mandatory car insurance in PEI
There are four parts to mandatory car insurance in PEI. All vehicle owners must have the following:
- Section A - Third party liability: Protects you from damage you cause while driving.
- Section B - Accident benefits: Covers medical costs if you are in an accident, no matter who is at fault.
- Section D - Uninsured motorist: Covers medical costs if an uninsured motorist injures you.
- Direct compensation property damage (DCPD): Covers your vehicle and items within if they are damaged. It also covers loss of use.
Here are the supplementary benefits included as part of your mandatory coverage:
- Medical payments: Up to $50,000/person. 4-year limit.
- Funeral expense benefits: Up to $2,500.
- Disability income benefits: Maximum $250/week.
- Death benefits: Death of head of household $50,000, death of spouse $25,000. Death of dependant $5,000.
- Right to sue: Yes, if deemed minor. The maximum pain and suffering is $7,952. Right to sue for economic loss.
Optional PEI car insurance
You can add four main types of optional insurance to your plan. Adding this protection will increase how much you pay.
- Collision insurance: This protects if your vehicle is damaged in an accident.
- Comprehensive insurance: Get coverage for damage to your car from non-accident events. For example, vandalism, falling objects, and theft.
- Specified perils insurance: You have coverage for threats listed in your policy.
- All perils insurance: You have protection from all threats unless they are listed as an exclusion.
Policy endorsements in PEI
You also have the option to add extra forms of protection called insurance endorsement. These are specific policy clauses and protections.
Here are some of the common:
- Loss of Use
- Legal Liability for Physical Damage to a Non-Owned Automobile
- Limited Waiver of Depreciation
- Family Protection
