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There is no standardized cost for car insurance in Moncton, because car insurance is an extremely customized product. Your premium will depend on a number of different factors — some which are in your control and some that are not — including the loss ratios of the car insurance company in Moncton you’ve selected. These are calculated using the claims history of your insurance provider’s other customers. Car insurance calculator tools geared for Moncton drivers require less information, but this also makes them less accurate. Keep reading for more information on how you can roughly estimate your car insurance costs in Moncton.

The postal code with the highest average automobile insurance price in Moncton is the E1C region. This region runs right through Central Moncton and includes notable landmarks such as the Moncton Hospital and the Moncton Coliseum.

The lowest prices for car insurance in Moncton, on average, are paid by residents of the E1E region. Like much of Moncton, this region runs right along the Bay of Fundy. Centennial Park and the Trans Canada Highway sit just inside the borders of this district.

Moncton, a city in New Brunswick, is the largest and most populous city in the region. According to LowestRates.ca’s user database, the top three cities and communities in New Brunswick that pay the highest rates for car insurance are:

1. Mispec
2. Moncton
3. Dieppe
4. Saint John
5. Allison

The communities that pay the lowest rates for car insurance in New Brunswick are:

1. Barter Settlement
2. Anderson Settlement
3. Atholville
4. Boudreau-Ouest
5. Burpee

New Brunswick premiums are among the lowest in the country, but that doesn’t mean it’s easy to find cheap auto insurance in the province.

Where you live is an important factor in determining your car insurance premiums. It’s true. But, it’s not the only thing car insurance companies consider. Keep reading to learn about what other factors car insurance providers look at.

There isn’t an easy way to answer this question because there is no one provider of car insurance that provides the cheapest rates to all customers. Don’t despair though. It’s very likely that there’s a car insurance company that favours your risk profile. This means that you could probably be saving more than you are right now.

There are a number of factors that contribute to your car insurance premiums that are in your control. However, some of the things that make up your risk profile are within your control, and others are not.

Factors that are in your control include:

• Gender
• Where you live
• Deductible amount
• Value of your vehicle
• How you use your vehicle
• How far you drive each day
• Who else is driving the vehicle
• The type of coverage you chose
• Driving record and accident claim history of all drivers
• Type of vehicle, including theft rating for that vehicle type

Some of the things in your control include your driving history, your insurance history, the vehicle you drive, how much you drive every day, and more.

However, the loss ratios of the insurance company who provides your policy also come into play. These are determined by the claims history of all the customers of that insurance company combined.

Since there isn’t much you can do about the things you can’t control, we’d recommend focusing on the factors you can control. Here’s where you can start.

There are a number of things insurance companies will take into account when calculating your rate. For instance, the amount that you drive every day, your insurance history, your gender, and other factors may impact how much you pay for car insurance each month.

Here’s a list of other factors insurance companies may consider when evaluating your risk profile:

Your licence level: Not having a full licence will cause your premium to be higher. Conversely, having a full licence has a positive effect on your car insurance rates. New drivers looking for car insurance in Moncton may see higher rates due to this factor.

Your driving history: Insurance companies favour drivers who have many years of claims-free driving experience. Having little driving experience (approximately less than 10 years), previous claims, and driving convictions will push your car insurance rates up. For this reason, car insurance rates for high-risk drivers in Moncton may be higher than the average rate.

Your age: Being a young driver puts you at a higher probability of being in a collision, according to actuarial data: you’re new to driving and are likely going to make some mistakes. This is why it may be more difficult for new drivers in Moncton to find cheap car insurance as opposed to other drivers.

However, being young isn’t the only way age can impact your car insurance rates. Adults between the ages of 50 and 70 get some of the lowest car insurance rates in Canada. If you belong to this demographic, you probably have a long history of being insured and you might even have bundled your home insurance policy with the same provider of your auto insurance. After age 70, though, you might see your rate begin to creep up because people in your age group are more statistically more likely to need to file a claim and need longer to recover from an injury. Therefore, seniors in Moncton who hold car insurance policies may also pay higher rates due to a higher rate of accidents in this age group.

Your sex: Unfortunately, men often pay higher rates than women.

Your postal code: Urban dwellers pay more than drivers in rural areas.

Your insurance history: In addition to having a poor driving history, your insurance history can also play a role in determining your rates. If you’ve filed multiple claims or have a history of missing payments, you may be given a higher rate. Furthermore, new immigrants who need car insurance in Moncton may also face challenges because they have no Canadian insurance history at all.

The amount of coverage you purchase: Buying coverage that exceeds the mandatory minimums will raise your insurance premium.

Your income level: How much money you make can also impact your car insurance rates. A higher income may indicate to an insurance company that you’re less likely to get behind on payments. This is why students who need car insurance in Moncton may face challenges securing an affordable rate.

Facts

• The Moncton Regional Municipality has nearly 250 new sidewalk construction projects tabled. The HRM is aiming to complete approximately 10 of these projects annually.

Myths

• Workers in Moncton don’t rely on their vehicles to get to work. False. Statistics Canada reports that 76.6% of workers use a car, van, or truck to get to work on a daily basis.
• Moncton gets very little snow. False. The city's located on a coast, which is often associated with mild weather, but Moncton gets several huge snow storms every year.
• Moncton has B-grade public transit. False. Moncton Transit has a fleet of buses that service the city. It also operates the Dartmouth Ferry Service, the oldest saltwater ferry service in North America.

• Buy snow tires. Moncton gets its fair share of snow storms. Enhance your safety and the safety of others by investing in a quality set of snow tires.
• Watch those one-way streets. There's a lot of one-way streets down by the waterfront in Moncton, so stay alert and pay attention to street signs.
• Be courteous to pedestrians — everyone else is. Moncton drivers are known for their road manners and their tendency to stop for pedestrians even if they're several metres away from the road. If you see pedestrians approaching, be prepared to stop.