Home - Automobile Insurance - Questions and Answers

Question 5:     Why are different insurers quoting me different premium amounts?

Automobile insurance rates are determined on a company specific basis in Newfoundland and Labrador meaning that each insurer has its own unique set of rates and rating factors. This can result in different premium amounts quoted to the same policyholder from one company to another. The types of coverage and product offerings can also vary by insurer and affect the quoted premium. It is important to shop around, get multiple quotes and compare prices from different insurers on a regular basis to ensure you are getting the best deal. Your insurance representative should be able to provide guidance regarding the best available coverage to fit your needs and budget.

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