Left Navigation It's Time For Change Insurance rates in Newfoundland and Labrador (NL) are too high, and they are making driving unaffordable for families across the province. There are a few reasons why rates are at their current levels, but, ultimately, these reasons won’t help put money back in your pocket. Our goal is to fix the insurance system so you can spend less on your premiums. Why are rates so high? There are more claims in NL per 100 vehicles than in the other Atlantic provinces, and the cost per claim is significantly higher. With more claims and higher costs, insurance rates are also higher. *Click to enlarge image.How can we fix this problem? Fewer collisions will result in fewer claims. And we all have a role to play in making that happen – being safe and attentive when you’re behind the wheel will help stabilize rates.Another good way to control insurance rates is to “cap” the claims costs for minor injuries. Provinces with a cap on minor injuries have lower rates – and drivers still get the coverage they need after a collision. In addition, IBC has proposed a package of solutions to government that can help stabilize rates. How would a cap affect you? A cap wouldn’t change your protection or your rights, for example, you can still sue. If you make a claim, you’re still able to receive an award of damages for losses suffered and can seek accident benefits. You will still receive the compensation you need to recover from sprains and strains, and your insurer will still take care of your vehicle.Additional Information: Explaining the Cap Solutions to Stabilize Rates Frequently Asked Questions All About Auto InsuranceRegardless of where you live in Canada, auto insurance is required by law. You are not authorized to drive without it. Related Services Useful LinksInsurance BasicsWithout insurance, driving a car, buying a home or starting a business would be an unaffordable risk.Insurance-Buying TipsInsurance is a significant investment. Before you purchase coverage, getting answers to key questions can help you make informed decisions. Crisis ManagementIf you find yourself in a crisis situation, never admit liability. Facility AssociationFacility Association’s mission is to administer the automobile insurance residual markets, enhance market stability, and guarantee the availability of automobile insurance to those eligible to obtain it.