Inflation currently defines our economic climate in Alberta. Prices aren’t what they once were years ago. Consequently, you can expect car insurance in Calgary has changed since then. With this guide, you can help navigate car insurance in 2022 Alberta. See how here.
How Car Insurance Works in Alberta
Car insurance in Alberta is divided between basic and additional coverage. Basic coverage is mandatory by law and entails accident benefits and third-party liability. An established maximum amount makes this basic coverage affordable and accessible. Meanwhile, additional insurance coverage is more for collision cases and is not required by law.
It allows you to find personalized car insurance in Calgary for policies with more options for protection. However, not all insurance companies in Calgary have the same coverage and rates. But, it’s worth noting that the Automobile Insurance Rate Board (AIRB) regulates automobile insurance rates in Alberta. So, you can expect to find the car insurance that suits your needs and finances since prices vary.
What Affects Car Insurance in Calgary
As you might know, your driving history impacts how much you would have to pay for the premium on your car insurance. These can include:
- Collisions
- Frequent claims of serious injuries
- Fraudulent claims
- Distracted or impaired driving
- Theft
These are just a few examples. However, you need to factor in where you live, which affects your premium rate. For instance, the premium rates for car insurance in Calgary will be higher than in rural places. The reason is that a bigger city has a bigger risk of theft, accidents, and even weather-related events. In turn, rates would be higher. Even if that’s the case, it doesn’t mean you can’t find insurance companies in Calgary that offer affordable rates.
How to Save on Car Insurance in Calgary
It’s not impossible to try and save on car insurance in Calgary during this time. Here are a few things you should consider to help you save!
Follow the Road Rules
This suggestion is an obvious one – but it’s worth the reminder. The safer you are on the road, lessens the chances of car accidents. It’s worth being a defensive driver for your and others’ safety while also helping to lower your insurance.
Be Cautious of Claims
You can’t help if you need to file a claim. That’s part of the process of insurance coverage. However, be cautious of filing too many claims. Doing so increases your insurance. So, only submit a claim if the damage is severe enough.
No Missing Payments
You don’t want to miss car insurance payments for your best interest. When you do, you will have to pay more to make up for it. If you can’t avoid a missed payment, then contact your insurer ASAP to help negotiate options on what to do.
Raise Deductible
Paying might initially seem counterintuitive to saving money on car insurance. However, raising your deductible helps to lower your rates. In turn, it will help save you money in the long term.
Proactive on Protection
Avoid having to go through insurance by finding ways to protect your vehicle. In Calgary, winter is notorious for collisions. So, ensure you’re equipped with the right tires. Also, regarding theft, consider installing security devices for your car.
Combine Insurances
You can find insurance companies in Calgary that can bundle your car and home insurance. In this way, you’re saving on costs through dual coverages. It’s a win-win scenario!
Lakeview Insurance Brokers Ltd. has been a highly dedicated member of the Independent Brokers Association of Albert and has been family-run since 1979. Our brokers take the time to ensure you get the best policy that suits your needs. Contact us today to get started at 403-287-2521 or send an email to [email protected].
