Understanding and Saving on Alberta Car Insurance

Finding car 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. Luckily, the knowledgeable team at InsurEye knows exactly how to find the best auto insurance in Alberta, and for the best price! With a solid team of professionals on your side, there is no need 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 educational and driving history! The following are just a few of the ways that you may be able to save on your auto insurance rates.By starting with an online comparison, you will be able to check average auto insurance rates in Alberta. If you’ve been with the same insurer for a long time, it may be difficult 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 approximately three years. At that time, previously incurred tickets will be removed from your history, and your premiums may be reduced.If you haven’t done so already, you can complete a driving course in an attempt to reduce your insurance premiums with some insurance companies. If the car you’re currently driving isn’t worth very much, consider only getting the minimal coverage required by law, without collision damage. This will likely mean that you’ll have liability insurance, and will still be protected if you damage someone’s vehicle, but the damages on your own vehicle will not be covered.If you’re a more experienced driver, you may be able to save by increasing your car insurance deductibles, and thus incurring higher payments for damages in case of an accident.Something as simple as where you park your vehicle can also affect your insurance rates. By parking in a safe location, like a private or secure garage, you will likely receive lower premiums. If you need multiple kinds of insurance coverage (like auto, home, and life insurance), many companies will give you the option to bundle them together 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 Certified Management Accountants of Canada, or The Air Canada Pilots Association.As a senior citizen, you will also be able to save, since most companies offer discounts to seniors.To discover more ways to save, contact InsurEye today. By filling out 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 AlbertaWhen choosing auto insurance, it’s important to understand the kinds 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 minimal amount of third-party liability insurance on your automobile, 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, should an accident happen.Alberta uses an “at-fault” insurance approach for bodily injury and vehicle damage liability. In contrast, the province uses a “no-fault” approach to accident benefits coverage, meaning that each insurer pays the claim of its policyholder. Car insurance rates in Alberta are at an average of $110 per month, which are not the highest in Canada. Still, it is important that you understand what is offered, in order to properly search for the best price.The Types of Automobile Insurance OfferedStarting with basic coverage, all drivers within the province of Alberta need personal liability and property damage (PLPD) insurance, which is also referred to as third-party liability insurance. This is legally mandatory in order to drive within the province, as it covers damages caused by your vehicle to another person or their property.Although the minimum is currently $200,000, it is wise to seek a higher coverage amount, as stated 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 kind 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, in the event that you are involved in an accident with an uninsured driver.Although third-party liability and accident benefits insurance are the minimum requirements necessary to drive in Alberta, there are other types of coverage that may interest you. Collision coverage, for example, will cover any repairs to your vehicle that have been caused by an accident with another vehicle or an object. Best of all, the repair or replacement of your vehicle is covered, regardless of whether or not you are at fault for the damages.Comprehensive insurance goes a step further, by covering damages to your vehicle that were 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 damages. This is the greatest degree of coverage available through an auto insurance policy.If you don’t need such extensive insurance coverage, specified perils insurance offers a happy medium. Specified perils insurance offers more protection than collision insurance, but is not quite as extensive as comprehensive insurance. This type of insurance covers damages caused by the perils that you specifically name within your policy, which are not the result of a collision. This way, you can choose what you’re insured for, and whatever perils are not named specifically will not be covered.Trust the Team of Experts at InsurEye Auto insurance does not 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 shopping for insurance, or you’ve done it multiple times in the past, it is our hope that 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!

Understanding Auto Insurance

Auto insurance is a legal requirement of driving. Every driver needs it. Auto insurance is a competitive industry. It certainly is not characterized by monopoly, the traditional basis for price and entry regulation. Auto insurance is so dynamic that it is almost impossible to predict more than six months in the future how much will be paid in claims. Variables such as people moving from one place to another, explosions in popularity of more destructive vehicles like SUVs, changes in driving habits like driving while talking on cell phones, and changes in jury awards are all variables that usually cannot be accounted for until the last minute.Auto insurance is simply about how much you are willing to pay out of your own pocket versus how much you want the insurance company to cover. Once you decide this, you’re all set to purchase your auto insurance policy. Auto insurance is coverage and protection, and that can vary widely from policy to policy. Auto insurance is a must for all those owning an auto. It offers financial protection when caught in an accident.Auto insurance is a necessity and not a luxury. In order to get the maximum amount of advantage, the experts recommend making a thorough research in order to shop for auto insurance company. Auto Insurance is not same for all vehicles, it depends on the kind of vehicle, the year etc. Some Insurance companies offer discounted Car Insurance which makes you tension free from your car damages. Auto insurance is not a contract; however, policyholders must be aware that there is the possibility that there may be an amount due after cancellation. This can be due to either unpaid earned premium, cancellation fees (range in the area of $15-$50), or policy fees (usually range from $10-$40).CarsCar insurance covers accidents, not diseases, and therefore it can be priced aggressively for those who are willing to take larger risks as to the condition of the car after an accident. There is no liability-only version of health insurance. Carefully read any policies or quotes so that you understand the terms of coverage. Car safety is an issue that won’t go away. The best any of us can do is ensure that we are adequately covered by insurance in case the unthinkable was ever to happen.Car insurance premiums increase. Data gathered by Experian shows that the typical quote for private comprehensive motor insurance increased by 7.9 per cent in May 2007 compared to the same period in 2006. Cars were getting better, roads were getting better (even if the drivers weren’t), and insurance losses were falling. This reduction in losses meant that auto insurance premiums fell everywhere-including California.DeductiblesDeductibles vary by state, but are most often in amounts of $100, $250, $500 or $1,000. For example, if you are in an accident that causes $2,500 worth of damage and your deductible is $500, you are required to pay the $500 and the insurance company will take care of the remaining $2,000. Deductibles This is the amount of money you must pay before your insurance company will pay for damages. Higher deductibles (more cost for you in case of an accident) mean lower premiums. Deductibles are the amount of out-of-pocket expenses you’ll pay if you’re in an accident. As a general rule, liability insurance is less expensive than comprehensive and the higher the deductible, the lower your premium.Person:Personal auto insurance is available in both California and Florida. Business auto insurance is currently available in California only. Personal injury insurance is designed to cover your medical bills, around eighty percent, and a portion of the lost wages you suffered, around sixty percent, if you are injured in a car related accident. This type of protection will cover your family members or anyone who was in your vehicle, depending on your policy and insurance company. Persons sharing characteristics with high claims groups will be charged more for insurance coverage.Companies:Companies normally negotiate this with each other. If you have insufficient coverage, you may have to go to court?thus displaying the tort aspect of the law. Companies use a formula to determine rates. We won?t get into the details of the formula but basically they calculate out the number of drivers they cover, the costs for the previous year including operating, accident, and liability claims, then they do some math and come out with their rates.ShoppingShop around: Auto insurance rates can vary as much as 300% between companies for the same coverage. You can save hundreds of dollars a year by comparing auto insurance quotes between companies. Shopping by phone will be available in New Jersey sometime next year. Shop around and do it yearly. Don’t just keep paying the invoice over and over without comparison shopping.Shop around and compare rates from different insurance companies. A good place to start is the consumer auto section at the Insurance Department’s website, http://www.ins.state.ny.us.DiscountsDiscounts also depend on your academic grades. Maintain good levels in your college grades and present a copy of your mark sheet to insurance company to receive substantial discounts. Discounts are offered to motorists who drive less than 15,000 miles per year – the lower the mileage, the more the discount.CollisionCollision coverage pays for physical damage to your car as the result of your auto colliding with an object, such as a tree or another car. This coverage is optional and not required by law. Collision insurance protects drivers in the case of encounters with other vehicles, objects, people, and the surface of the road. Collision insurance will cover the driver whether or not he or she is at fault for the accident.Additionally, an individual may require a commercial auto policy depending on who is driving or riding in the vehicle. Additionally, some companies receive ratings of R (under regulatory supervision) and NR, which means ‘not rated’. The letter grades might be modified by a + or – mark.