Compare auto insurance across 2 Prince Edward Island cities. Provincial average: CA$90/month (CA$1,080/year). Insurance system: private. Regulator: IRAC.
Prince Edward Island operates a private insurance system regulated by IRAC. All drivers must carry minimum Third-Party Liability of CA$200,000. The mandatory coverage package includes Accident Benefits, Uninsured Motorist Protection, and Direct Compensation-Property Damage.
PEI's IRAC continues to oversee a stable and affordable auto insurance market. The province's small size and low traffic density mean that even PEI's highest-rate market — Charlottetown — remains well below the national average. Comparison shopping at renewal consistently reveals rate spreads of CA$200–CA$400 per year for identical risk profiles.
| Coverage | Description |
|---|---|
| Third-Party Liability | Minimum CA$200,000 required; pays compensation to others for injury or property damage |
| Accident Benefits | Provides medical, rehabilitation, and income replacement for you and passengers regardless of fault |
| Uninsured Motorist Protection | Covers you if injured by an uninsured or unidentified driver |
| Direct Compensation-Property Damage | Covers your vehicle damage when another insured driver is at fault in a collision |
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