Understanding and saving on Alberta auto insurance
Finding auto insurance can be a difficult and stressful process, especially for those who don’t have a lot of experience when it comes to average rates and coverage. Fortunately, the expert team at InsurEye knows exactly how to find the best auto insurance in Alberta, and at the best price! With a solid team of professionals at your side, you don’t have to worry about finding cheap car 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 driving and educational history! The following are just a few of the ways you can save on your auto insurance rates.
By starting with an online comparison, you will be able to 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 looking. If you don’t have a good driving record, keep in mind that this will only affect you for about three years. At that time, previously incurred tickets will be removed from your history and your premiums may be reduced.
If you haven’t already done so, you can complete a driving course in an attempt to lower your insurance premiums with some insurance companies. If the car you currently drive isn’t worth much, consider getting only the minimum coverage required by law, with no collision damage. This likely means you will have liability insurance and will still be protected if you damage someone else’s vehicle, but damage to your own vehicle will not be covered.
If you’re a more experienced driver, you can save by increasing your auto insurance deductibles and thus incur higher damage payments 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 secure location, such as a secure or private garage, you are likely to receive lower premiums. If you need multiple types of insurance coverage (such as auto, home, and life), many companies will give you the option of bundling them for a discounted rate.
Graduates of certain Canadian universities may be eligible for a discounted rate from some insurance providers. Some insurance providers will offer a discount to members of certain professional organizations, such as the Certified Management Accountants of Canada or the Air Canada Pilots Association.
As a senior, you will also be able to save, as most companies offer discounts to seniors.
To discover more ways to save, contact InsurEye today. By completing our online insurance quote form, you can connect with an experienced insurance professional who will help you find the perfect plan.
Understanding auto insurance in Alberta
When choosing auto insurance, it’s important to understand the types of insurance available to you. This will ensure that you choose a plan that works best for you and that you don’t end up paying for things you don’t need.
Although auto insurance is required by law in Alberta, the government only regulates the minimum amount of auto liability insurance, which is $200,000. Rather, we recommend having at least $1,000,000 to $2,000,000 in liability coverage, to protect yourself and your finances, should an accident occur.
Alberta uses a “at-fault” insurance approach for bodily injury and vehicle damage liability. In contrast, the province uses a “no-fault” approach to accident benefit coverage, which means that each insurer pays its insured’s claim. Auto insurance rates in Alberta average $110 per month, which is not the highest in Canada. Still, it’s important that you understand what’s on offer, so you can properly shop around for the best price.
The types of auto insurance offered
Starting with basic coverage, all drivers within the province of Alberta need Personal Liability and Property Damage (PLPD) insurance, which is also known as Third Party Liability insurance. It is legally mandatory to drive within the province, since it covers the damage that your vehicle causes to another person or to their property.
Although the minimum is currently $200,000, it is wise to look for a higher coverage amount, as noted above. Alberta also requires drivers to have accident benefits coverage, as this covers the passengers of a vehicle, in the event of injury or death. Regardless of who may be at fault, this type of insurance will cover medical and rehabilitation costs, funeral expenses, death benefits, and income replacement, depending on the situation. Accident benefits will also give you uninsured motorist coverage, should you be involved in an accident with an uninsured driver.
Although liability insurance and accident benefits are the minimum requirements for driving in Alberta, there are other types of coverage that may interest you. Collision coverage, for example, will cover any repairs to your vehicle that were caused by an accident with another vehicle or object. Best of all, the repair or replacement of your vehicle is covered, regardless of whether or not you are at fault for the damage.
Comprehensive insurance goes a 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 from threats including fire, theft, vandalism, and environmental or weather-related damage. This is the highest degree of coverage available through an auto insurance policy.
If you don’t need such extensive insurance coverage, specific peril insurance offers a happy medium. Specific peril insurance offers more protection than collision insurance, but it is not as comprehensive as comprehensive insurance. This type of insurance covers damage caused by the perils that you specifically name within your policy, that are not the result of a collision. This way, you can choose what you are insured for, and perils that are not specifically named will not be covered.
Trust the InsurEye team of experts
Car insurance doesn’t have to be a scary or difficult process. At InsurEye, we’re passionate about helping our clients find the best insurance prices possible, for policies that fit their specific needs. Whether this is your first time shopping for insurance or you’ve done so several times in the past, we hope we can find you a better price, without sacrificing coverage. See how much you can save on auto insurance in Alberta with the help of InsurEye!
