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What is Covered
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It is very important to have knowledge in every bit of information about your auto insurance policy. This will save you from paying unnecessary rates and from being abused by unscrupulous insurance companies. The very basic thing that you need to know about your car insurance is its coverage. Alberta's new system of auto insurance redefines and specifies the coverage of the drivers' insurance.
Since every car owner is required to insure his vehicle, the mandatory coverage in Alberta are accident benefits insurance and third-party liability. The lowest rate for the coverage of the third-party liability is $200,000. The province also has optional coverage that you can purchase and include in your existing policy. These are all-perils, collision, and comprehensive. They all have deductibles, which may influence your premium, that you are required to pay. It is necessary to know the differences of these types of optional coverage to calculate your payable correctly.
Furthermore, the people who are covered in your third-party liability insurance are you (the owner of the automobile) and the person who operates the vehicle with your consent. With regards to claims, third parties and people in your ride are all covered. On the other hand, if you happen to be hit by a driver who is uninsured, you will be paid more or less $200,000 for all the damages and personal death or injury.
Knowing the coverage of your auto insurance policy can help you manage medical and/or funeral expenses and make you more secure about driving.
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