Understanding and Saving on Auto Insurance in Alberta
Finding auto insurance can be a difficult and stressful process, especially for those who don’t have much experience when it comes to average rates and coverage. Fortunately, InsurEye’s expert team knows exactly how to find the best car insurance in Alberta, and at the best price! With a solid team of professionals by your side, you don’t have to worry about finding cheap auto insurance that fits your needs.
The Many Ways to Save on Auto Insurance in Alberta
There are many factors that affect car insurance rates in Alberta, from the condition of your vehicle to where you drive and park, or even your learning and driving history! The following are just some of the ways you can potentially save on your auto insurance rates.
By starting with an online comparison, you can check the average auto insurance rates in Alberta. If you’ve been with the same insurer for a long time, it can be hard to beat their rates (especially if you haven’t had any recent claims), but it’s always worth a look. If you don’t have good driving habits, keep in mind that this is only true for you for about three years. At that point, tickets that you’ve already made will be removed from your history, and your insurance premiums may be cut.
If you haven’t already, you can take driver training in an effort to lower your insurance premiums with some insurance companies. If the car you’re currently driving isn’t worth much, consider getting only the minimum legal coverage, with no collision damage. This probably means you have liability insurance and will still be protected if you damage someone’s vehicle, but the damage to your own vehicle will not be covered.
By raising your auto insurance deductible and paying more in the event of an accident, you may be able to save money and not pay as much in the event of an accident.
Something as simple as where you park your vehicle can also affect your insurance rates. By parking in a safe place, such as a private or secured garage, you will likely get a lower premium. If you need multiple types of insurance coverage (such as auto, home, and life insurance), many companies allow you to bundle them together for a discounted rate.
Graduates of certain Canadian universities may qualify for a discounted rate with some insurance companies. Some insurance companies offer discounts to members of certain professional organizations, such as the Certified Management Accountants of Canada or the Air Canada Pilots Association.
As a senior, you can also save, as most companies offer discounts to seniors.
Contact InsurEye today to discover more ways to save. Filling out our online insurance quote form puts you in touch with an experienced insurance professional who will help you find the perfect plan.
Understanding Alberta Auto Insurance
When choosing auto insurance, it is important to understand what types of insurance are available to you. This ensures that you choose a plan that works best for you and that you don’t end up paying for things you don’t need.
While auto insurance is required by law in Alberta, the government only regulates the minimum amount of third-party liability insurance for your car, which is $200,000. In contrast, we recommend having at least $1,000,000 to $2,000,000 in liability coverage to protect yourself and your finances in the event of an accident.
Alberta uses an “at-fault” insurance approach for personal injury and vehicle damage liability. By contrast, the county takes a “no-fault” approach to accident insurance coverage, meaning each insurer pays for its policyholder’s claim. Auto insurance rates in Alberta average $110 per month, which is not the highest in Canada. However, it is important that you understand what is offered in order to be able to search for the best price.
The types of car insurance offered
Starting with basic coverage, all drivers in the province of Alberta require personal liability and property damage insurance (PLPD), also known as third-party liability insurance. In order to drive in the county, you must have this insurance. It covers damage your car does to someone else or their home.
While the minimum is currently $250,000, it would be wise to look for a higher amount of cover, as noted above. Alberta also requires drivers to have accident insurance, as it covers a vehicle’s passengers in the event of injury or death. Regardless of who is to blame, this type of insurance will cover medical and rehabilitation costs, funeral expenses, death benefits, and income replacement, depending on the situation. Accident benefits also provide cover for uninsured drivers in the event that you are involved in an accident with an uninsured driver.
While public liability and accident insurance are the minimum requirements to drive in Alberta, there are other types of coverage that may interest you. For example, collision coverage covers all repairs to your vehicle caused by an accident with another vehicle or object. The best part is that even if you are to blame for the damage, your car will be repaired or replaced.
Comprehensive insurance goes one step further by covering damage to your vehicle that is not the result of an accident or collision of any kind. This insurance protects your vehicle against threats such as fire, theft, vandalism, and environmental or weather-related damage. This is the maximum coverage available through auto insurance.
If you don’t need such comprehensive insurance coverage, itemised hazard insurance offers a happy medium. Itemized hazard insurance offers more protection than collision insurance, but is not as comprehensive as comprehensive insurance. This type of insurance covers damage caused by the hazards you specifically mention in your policy, which are not the result of a collision. This way, you can choose what you are covered for, and any hazards not specifically mentioned are not covered.
Trust the InsurEye team of experts.
Car insurance doesn’t have to be a scary or difficult process. At InsurEye, we are passionate about helping our clients find the best possible insurance prices for policies that suit their specific needs. Whether this is your first time looking for insurance, or if you’ve done it several times in the past, we hope we can offer you a better price without sacrificing coverage. See how much you can save on car insurance in Alberta with the help of InsurEye!