Automobile

Section A

Civil liability coverage protects you anywhere in the world from non-economic loss, property damage or bodily injury that you may involuntary cause to a third party. You should know that everyone who owns a vehicle in Quebec is required to hold civil liability coverage. This coverage is particularly crucial when you are driving in the United States. Since the exchange rate is higher and lawsuits are a lot more frequent and costly than in Quebec, we recommend that your liability limit be set between $2 and $5 million. Also, if you were to face a lawsuit, your insurer would pay the associated legal fees.

Section B

Coverage for damage to the insured vehicle can take four different forms, which can be selected individually:

-All perils (Section B1): covers damage caused to your vehicle, as well as its equipment and accessories, regardless of the type of risks mentioned below.

-Collision or upset (Section B2): covers damage to your vehicle, as well as its equipment and accessories, only if the damage is the result of a collision or upset in an accident for which you are at fault. It is important to know that the deductible is paid by the insured.

-Comprehensive – excluding collision or upset (Section B3): covers your vehicle if it’s stolen, if the windshield breaks or if damage is the result of fire or vandalism, if the damage is caused by a collision with an animal or a hit-and-run accident. In the case of the latter, it is important that a police report be filled out within 24 hours of the accident. The deductible is also paid by the insured.

-Specified perils (Section B4): this coverage is more restrictive than the others as it only covers specific risks, such as fire and theft.

Q.E.F. No. 43

In the event of total loss or theft, your vehicle will be replaced with a new one of a similar model and of equal value. Also, in the event of partial loss, your vehicle’s damaged parts are replaced by new manufacturer parts. Without this endorsement, insurers usually replace the parts with refurbished one when your vehicle has reached 40,000 km or is more than two years old. Bear in mind that this coverage needs to be purchased no later than three months after you buy your car. It can then be renewed up to five years afterwards.

For example
You buy a 2017 Mazda 3 and add the “Replacement cost” endorsement to your policy. Three years later, in 2020, you get into an accident with another vehicle and yours is declared a total loss. The supplemental coverage you added three years ago allows you to buy the latest Mazda 3.

Q.P.F. No. 5

Replacement insurance is equivalent to what car dealerships offer but is usually less expensive when purchased through your Lareau broker. Furthermore, this insurance reimburses part of the cost of having a TAG tracking system installed on your vehicle. It also reimburses the cost of the deductible that is charged to you by the insurer, a $250 or $500 value. This insurance provides coverage for new vehicles as well as used vehicles.

New vehicle (total loss):
at the time of buying this option, you can choose to:
-Replace your vehicle at the original dealership with a new one that is of equal or greater value.
-Take the indemnity and replace your vehicle elsewhere with a new one that is of equal or greater value.
In both cases, if you go with the option of buying a vehicle that is more expensive, you will pay the difference.

New vehicle (partial loss):
In the event of partial loss, the damaged parts will be replaced by new manufacturer parts as soon as your vehicle reaches 40,000 km or is more than two years old.

Used vehicle:
You receive an indemnity equal to the value of your vehicle and a marked-up value applies, which is an amount compounded annually, calculated based on the number of days between the purchase date and the date of the loss. This basically means that your used vehicle increases in value over the years! Furthermore, this option helps you pay down the residual value of your car.

Q.E.F. No. 20a

Adding this endorsement to your standard insurance policy will cover the expenses incurred for taxicab fares, public transportation or the leasing of a temporary replacement vehicle, for a limited period, while your vehicle is being repaired or replaced due to a covered loss.

Your Lareau broker can offer you a combination of the Q.E.F. Nos. 20, 27 and 34, which will be more beneficial to you.

Q.E.F. No.°27

This endorsement for damage caused to vehicles that are borrowed or leased short-term provides coverage for civil liability when you are driving a vehicle that does not belong to you. Damages that could be sustained by the borrowed car are also covered. This coverage replaces the one recommended by the rental company and will protect you anywhere in North America.

Your Lareau broker can offer you a combination of the Q.E.F. Nos. 20, 27 and 34, which will be more beneficial to you.

This insurance covers your medical expenses and pays out a benefit to your beneficiary in the event of an automobile accident causing death.

Your Lareau broker can offer you a combination of the Q.E.F. Nos. 20, 27 and 34, which will be more beneficial to you.

If you choose this coverage, your trailer used to transport your goods will be insured. Don’t forget that you must already have been in possession of a coupler lock for your trailer in order to be covered for theft.