Automobile Insurance
Automobile Insurance Rates
Automobile insurance is the only type of insurance for which rates are regulated in Prince Edward Island.
Under the Insurance Act, the Island Regulatory and Appeals Commission has general supervision over the rates and premiums that an insurance company charges for automobile insurance. Every auto insurance company must make an application to the Commission annually for approval of its rates and premiums, which must be based on a risk classification that is just and reasonable. The Superintendent of Insurance is responsible for all other oversight or regulation of automobile insurance companies.
For more information on rates, please go to IRAC's Auto Insurance page.
Standard Insurance Policies
- SPF No. 1 - Standard Automobile Policy (Owner's Form) (Current - Effective October 1, 2015)
- Previous version (effective October 1, 2014 to October 1, 2015)
- SPF No. 4 - Standard Garage Automobile Policy (Garage Form) (Current - Effective October 1, 2015)
Endorsements
Endorsements (also referred to as riders) amend an existing insurance contract by adding, deleting, excluding or otherwise altering the scope of the original policy. In Prince Edward Island, automobile policy endorsement forms are separated into two categories:
- Standard Endorsement Forms (SEF) that have been approved for use by the Superintendent of Insurance; and
- Non-Standard Endorsement Forms that are non-standard endorsement forms approved by the Superintendent of Insurance for use by a particular insurance company wishing to address specific needs of its clients.
Pursuant to section 216 of the Insurance Act: “No insurer shall use a form of application, policy, endorsement or renewal or continuation certificate in respect of automobile insurance other than a form approved by the Superintendent.”. The below listed endorsements may be used by any insurance company licensed to underwrite the class of automobile insurance in Prince Edward Island. All standard automobile insurance forms are also commercially available through InformCo.
Standard Endorsement Forms (SEFs) approved for use in PEI
| Form No. | Endorsement Title |
|---|---|
| SEF No. 2 | Drive Other Automobiles Endorsements Named Person(s) |
| SEF No. 3 | Drive Government Automobiles Endorsement |
| SEF No. 4A | Permission to Carry Explosives Endorsement |
| SEF No. 4B | Permission to Carry Radioactive Material Endorsement |
| SEF No. 5 | Permission to Rent or Lease Endorsement (Specified Lessee) |
| SEF No. 5C | Permission to Rent or Lease Endorsement (Unspecified Lessees- Short Term Leases Only |
| SEF No. 5D | Conversion Coverage Endorsement (Rented or Leased Automobiles) |
| SEF No. 6A | Permission to Carry Passengers for Compensation Endorsement |
| SEF No. 6B | School Bus Endorsement |
| SEF No. 6C | Public Passenger Vehicles Endorsement |
| SEF No. 6D | Driver Training School Endorsement |
| SEF No. 6F | Public Passenger Vehicles Endorsement (Combined Limits) |
| SEF No. 7 | Separate Limits Endorsement (Third Party Liability) |
| SEF No. 8 | Property Damage Reimbursement Endorsement (Section A Only) |
| SEF No. 8A |
Property Damage Reimbursement Endorsement - For Operation by Named Person Endorsement (Section A Only) |
| SEF No. 9 | Marine Use Excluded Endorsement (Amphibious Vehicles) |
| SEF No. 10 | Change of Limits and Deductibles Endorsement |
| SEF No. 11 | Change of Coverages Endorsement (Section C) |
| SEF No. 12 | Additional Coverage Endorsement |
| SEF No. 13A | Deletion of Automobile Endorsement |
| SEF No. 13B | Deleted Coverage Endorsement |
| SEF No. 13C | Comprehensive Cover - Deletion of Glass Endorsement |
| SEF No. 16 | Agreement for Suspension of Coverage Endorsement |
| SEF No. 17 | Reinstatement of Coverage Endorsement |
| SEF No. 19 | Limitation of Amount Endorsement |
| SEF No. 19A | Valued Automobile(s) Endorsement |
| SEF No. 20 | Loss of Use Endorsement |
| SEF No. 21A | Monthly Reporting Basis Fleet Endorsement |
| SEF No. 21B | Blanket Basis Fleet Endorsement |
| SEF No. 22 | Damage to Property of Passengers Endorsement |
| SEF No. 23A | Mortgage Endorsement |
| SEF No. 23B | Mortgage Endorsement (Broad Form) |
| SEF No. 24 | Fire Apparatus Endorsement |
| SEF No. 25 | Alteration Endorsement |
| SEF No. 25A | Alteration Endorsement |
| SEF No. 26 | Disappearing Deductible Endorsement (all Perils or Collision or Upset) |
| SEF No. 27 | Legal Liability for Damage to Non-Owned Automobile Endorsement |
| SEF No. 27B |
Legal Liability for Damage to Non-Owned Automobile Endorsement - Business Operations for Non-Owned Automobiles In Your Care, Custody or Control |
| SEF No. 28 | Reduction of Coverage with Respect to Operation by Name Person(s) Endorsement |
| SEF No. 29 | Additional Coverage as Respects Operation by Named Person(s) Endorsement |
| SEF No. 30 | Excluding Operation of Attached Machinery Endorsement |
| SEF No. 31 | Non-Owned Equipment Endorsement |
| SEF No. 32 | Recreational Vehicle Endorsement |
| SEF No. 35 | Emergency Service Expense |
| SEF No. 36 | Commercial Automobiles Used Exclusively For Pleasure Endorsement |
| SEF No. 37 | Limitation to Automobile Sound and Electronic Communication Equipment Endorsement |
| SEF No. 38 | Increased Limit, Automobile Sound and Electronic Communication Equipment Endorsement |
| SEF No. 39 | Accident Rating Waiver Endorsement |
| SEF No. 40 | Fire and Theft Deductible Endorsement |
| SEF No. 43R | Limited Waiver of Depreciation Endorsement |
| SEF No. 43R(L) | Limited Waiver of Depreciation Endorsement (Specific Lessee) |
| SEF No. 44 | Family Protection Endorsement |
| SEF No. 62 | Agreement to Provide Coverage Under Section C - For Contents of the Described Motor Home |
| SEF No. 63 | Loss of Use Motor Home and Vacation Trailer - Emergency Accommodation Expense Endorsement |
| SEF No. 70 |
Named Chauffeur Endorsement (for attachment only to a Garage Automobile Insurance Policy PE - SPF #4) |
| SEF No. 71 |
Excluding Owned Automobiles Endorsement (for attachment only to a Garage Automobile Insurance Policy PE - SPF #4) |
| SEF No. 72 |
Multiple Alteration Endorsement (for attachment only to a Garage Automobile Insurance Policy PE - SPF #4) |
| SEF No. 73 |
Excluding Financed Automobiles Endorsement (for attachment only to a Garage Automobile Insurance Policy PE - SPF #4) |
| SEF No. 74 |
Open Lot Pilferage Endorsement - Owned Automobiles (for attachment only to a Garage Automobile Insurance Policy PE - SPF #4) |
|
Open Lot Pilferage Endorsement - Customers' Automobiles (for attachment only to a Garage Automobile Insurance Policy PE - SPF #4) |
|
| SEF No. 76 |
Additional Insured Endorsement - Broad Form (for attachment only to a Garage Automobile Insurance Policy PE - SPF #4) |
| SEF No. 77 |
Legal Liability for Comprehensive Damage to Customers' Automobiles Endorsement (Including Open Lot Pilerage) (for attachment only to a Garage Automobile Insurance Policy PE - SPF #4) |
| SEF No. 78 |
Reduction of Coverage as Respects Operation by Name Persons Endorsement (for attachment only to a Garage Automobile Insurance Policy PE - SPF #4) |
| SEF No. 79 |
Fire and Theft Deductible Endorsement (for attachment only to a Garage Automobile Insurance Policy PE - SPF #4) |
| SEF No. 80 |
Specific Owned Automobile Physical Damage Coverage (for attachment only to a Garage Automobile Insurance Policy PE - SPF #4) |
| SEF No. 81 |
Garage Family Protection Endorsement (for attachment only to a Garage Automobile Insurance Policy PE - SPF #4) |
| SEF No. 82 |
Legal Liability for Damage to Non-Owned Automobile Endorsement (for attachment only to a Garage Automobile Insurance Policy PE - SPF #4) |
| SEF No. 100 |
Alteration Endorsement (for attachment only to a Garage Automobile Insurance Policy PE - SPF #4) |
Minor Injury Cap
On April 1, 2004, Prince Edward Island enacted legislation which limited automobile accident court awards for non-pecuniary (pain and suffering) damages to $2,500 when an injury was deemed as a a minor personal injury.
The Minor Injury Cap amount was subsequently adjusted to $7,500 and the definition of a minor personal injury was revised for accidents occurring on or after October 1, 2014. Pursuant to section 254.2 of the Insurance Act, the Cap amount is indexed by the province's annual average percentage change for all-items Consumer Price Index of the preceding year, each January 1st.
- Automobile Insurance Minor Injury Cap Annual Indexation
The historical maximum minor injury amounts, reported by effective date, are as follows:
| Effective Date Range | Minor Injury Amount |
|---|---|
| April 1, 2004 to September 30, 2014 | $2,500 |
| October 1, 2014 to December 31, 2015 | $7,500 |
| January 1, 2015 to December 31, 2016 | $7,455 |
| January 1, 2016 to December 31, 2017 | $7,545 |
| January 1, 2017 to December 31, 2018 | $7,681 |
| January 1, 2018 to December 31, 2019 | $7,858 |
| January 1, 2019 to December 31, 2020 | $7,952 |
| January 1, 2020 to December 31, 2021 | $7,952 |
| January 1, 2021 to December 31, 2022 | $8,358 |
| January 1, 2022 to December 31, 2023 | $9,094 |
| January 1, 2023 to December 31, 2024 | $9,358 |
Insurance for Ridesharing/Transportation Network Companies
Ridesharing is a taxi-like service generally offered through the use of mobile apps to connect drivers of vehicles and those seeking local transportation. Here’s what you should know about automobile insurance coverage related to ridesharing in Prince Edward Island.
- Ridesharing and Insurance
- Bulletin - PEI Standard Automobile Insurance Policy Form Transportation Network Company PE SPF No. 9 (issued December 1, 2020)
Additional Information
- Bulletin on Electronic Proof of Automobile Insurance (EPAI) (issued October 16, 2020)
- Information on Direct Compensation - Property Damage (DCPD)