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6 things you need to know about car coverage in Alberta.
In Edmonton, it’s a requirement for all drivers to get basic auto insurance. But, did you know that getting the coverage you need can save you time, money, and major headaches?
1. Beyond the Basics
Third-party liability (also called personal liability and property damage) protects you for up to $200,000 in claims made by other motorists for injury or property damage. This amount is the minimum requirement and sounds like a lot of money-but you’d be surprised how much you may need to pay out to a driver who incurs a major injury.
Ask your insurance provider and they’ll likely quote you in the $2 million-dollar minimum liability arena. Yes, lawsuits and other damage claims can be that expensive. Know what you should be adding onto your policy for peace of mind on the road.
2. Accident Benefits and No-Fault Insurance
You’re in an accident and you need physiotherapy, rehabilitation, or have to pay for other medical expenses. The common questions are: Who covers the costs? Am I at fault? How does this affect my coverage? Alberta has a no-fault insurance system that applies to every driver in the province. Your insurance company will provide you with accident benefits regardless of who caused the accident, i.e. who is at-fault.
3. Additional Coverage
Surprisingly to some drivers, collision insurance is not automatically covered in your basic insurance policy. Unfortunately, some drivers only find out after they’ve rear-ended another car.
Other coverage that is not included in a basic rate is all perils, comprehensive and specified perils. Contact your insurance representative for more information. It pays to be informed. For an affordable monthly premium, you won’t get caught by surprise after an unfortunate accident.
4. The Grid System
While premiums in Edmonton are certainly not the highest in the country, it’s good to know when and how your rates will go up. The grid system helps Alberta drivers know what to expect when their policies are coming up for renewal.
Reliant Insurance brokers can walk you through the complex nature of the grid rating system. Rates are determined by your driving tickets, traffic accidents, your driving history and more.
The grid system is set by the Alberta Automotive Insurance Rate Board.
5. Discounts
Albertans, on average, pay about 20 percent less than drivers in other provinces, like Ontario and Quebec, but it still pays to shop around for the best rates. There are a few things a driver can do to get their rates lowered, especially new drivers. New drivers, who are stuck with high
rates, are eligible to take a driver’s training course to save on their monthly premiums; savings range from $100-$200.
Bundle up! And, I don’t mean put on more layers. Combining your home and car insurance policies can save you money in the short and long-run. Talk to one of our experienced insurance brokers to help you find the best rates out there.
6. Crossing the Border
Are you tired of airplanes and people and just want to drive to Puerta Vallarta for a fun road trip? Call your insurance company for a quote on travel outside Canada and the U.S., where you’re not covered at all.
Expert Advice
Reliant Insurance provides fast and easy access to the best and most affordable rates and policies from the top insurance providers in Alberta.
6 things you need to know about car coverage in Alberta.
In Edmonton, it’s a requirement for all drivers to get basic auto insurance. But, did you know that getting the coverage you need can save you time, money, and major headaches?
1. Beyond the Basics
Third-party liability (also called personal liability and property damage) protects you for up to $200,000 in claims made by other motorists for injury or property damage. This amount is the minimum requirement and sounds like a lot of money-but you’d be surprised how much you may need to pay out to a driver who incurs a major injury.
Ask your insurance provider and they’ll likely quote you in the $2 million-dollar minimum liability arena. Yes, lawsuits and other damage claims can be that expensive. Know what you should be adding onto your policy for peace of mind on the road.
2. Accident Benefits and No-Fault Insurance
You’re in an accident and you need physiotherapy, rehabilitation, or have to pay for other medical expenses. The common questions are: Who covers the costs? Am I at fault? How does this affect my coverage?
Alberta has a no-fault insurance system that applies to every driver in the province. Your insurance company will provide you with accident benefits regardless of who caused the accident, i.e. who is at-fault.
3. Additional Coverage
Surprisingly to some drivers, collision insurance is not automatically covered in your basic insurance policy. Unfortunately, some drivers only find out after they’ve rear-ended another car.
Other coverage that is not included in a basic rate is all perils, comprehensive and specified perils. Contact your insurance representative for more information. It pays to be informed. For an affordable monthly premium, you won’t get caught by surprise after an unfortunate accident.
4. The Grid System
While premiums in Edmonton are certainly not the highest in the country, it’s good to know when and how your rates will go up. The grid system helps Alberta drivers know what to expect when their policies are coming up for renewal.
Reliant Insurance brokers can walk you through the complex nature of the grid rating system. Rates are determined by your driving tickets, traffic accidents, your driving history and more.
The grid system is set by the Alberta Automotive Insurance Rate Board.
5. Discounts
Albertans, on average, pay about 20 percent less than drivers in other provinces, like Ontario and Quebec, but it still pays to shop around for the best rates. There are a few things a driver can do to get their rates lowered, especially new drivers. New drivers, who are stuck with high
rates, are eligible to take a driver’s training course to save on their monthly premiums; savings range from $100-$200.
Bundle up! And, I don’t mean put on more layers. Combining your home and car insurance policies can save you money in the short and long-run. Talk to one of our experienced insurance brokers to help you find the best rates out there.
6. Crossing the Border
Are you tired of airplanes and people and just want to drive to Puerta Vallarta for a fun road trip? Call your insurance company for a quote on travel outside Canada and the U.S., where you’re not covered at all.
Expert Advice
Reliant Insurance provides fast and easy access to the best and most affordable rates and policies from the top insurance providers in Alberta.
