All about your insurance policy

You've invested hours of your time shopping for your new car, trying to find the right model, the perfect color and options, and the best price. But did you stop to think about auto insurance? It's a key part of your decision.

• In Quebec, auto insurance is mandatory. You don't have a choice about insuring your vehicle, but you can choose the coverage that best suits your needs and budget.
• An auto insurance policy is not rocket science. Section A covers your civil liability (damage to third parties) and is required by law. Section B covers damage to your vehicle (collision, fire, theft, vandalism, etc.) and is optional. There are also specific add-ons, such as the replacement cost rider.
• Thinking of insuring only your civil liability to save on premiums? Be careful-some long-term leasing and financing companies have specific coverage requirements.
• Some insurers impose their own terms, such as the installation of a specific anti-theft or tracking device. If you're on a tight budget, be sure to get the whole story before you buy.
• In Quebec, auto insurance is offered as a standard policy for everyone and is approved and updated by Quebec's Autorité des marchés financiers (AMF).
• Your insurer is required to send you or your broker a notice of renewal 30 days before expiry. Your policy will be renewed automatically unless you or your insurer indicates otherwise. Note the expiry date on your calendar so you can update your policy if you need to.