Automobile Insurance

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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

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:

  1. Standard Endorsement Forms (SEF) that have been approved for use by the Superintendent of Insurance; and
  2. 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)

SEF No. 75

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. 

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.

Additional Information

 

Date de publication : 
le 21 Novembre 2023
Justice et de la Sécurité publique

Renseignements généraux

Assurances et immobilier
Ministère de la Justice et de la Sécurité publique
Immeuble Shaw (nord), 1er étage
105, rue Rochford
C.P. 2000
Charlottetown (Île-du-Prince-Édouard)  C1A 7N8

Téléphone: (902) 368-4550
Télécopieur: (902) 368-5283

licensing@gov.pe.ca