Alberta Car InsuranceAlberta Car Insurance is mandatory, just like in the rest of Canada. Fortunately there are over sixty auto insurance company's offering coverage so it is a competitive marketplace. This means it pays to shop around. Minimum Alberta Car Insurance CoverageThe minimum coverage for third party liability (including bodily injury, death, and property damage) is $200,000. This covers you or legal settlements and court awards against you as a result of your auto insurance liability. Property damage is capped at $10,000. Medical payments are covered for $50,000 per person and includes rehabilitation. There is a two year limit on medical payments. Disability Income coverage offers 80% of the gross weekly wages to a maximum of $400 per week to a total of 104 weeks if necessary. There is also a death benefit and a right to sue for economic loss in excess of the no-fault benefits. More About Alberta Auto InsuranceAlberta has a no fault auto insurance system. This means that if you have a claim you put it in with your own insurance company. If you are in an accident where someone else hit you then your rates will not go up, theirs will. It is possible to buy higher limits of coverage than those listed above and it is worth considering doing so. It is also a good idea to consider having collision and comprehensive coverage even though they are not mandatory. Collision covers you in the event that you collide with another vehicle or object and you are at fault for it. Comprehensive covers claims such as fire, theft, or vandalism. Collision and Comprehensive are called Physical damage coverage. Alberta Insurance EndorsementsThere are a variety of optional extra coverages known as endorsements. The most important ones include: loss of use; Legal Liability for Damage to Non-Owned Automobiles; Limited Waiver of Depreciation; and Family Protection.Loss of use - coverage for a rental vehicle in the even that yours is being repaired due to a covered loss in the insurance policy Legal Liability for Damage to Non-Owned Automobiles This extends coverage from your vehicle to a rental vehicle for physical damage. Limited Waiver of Depreciation If you buy a new vehicle this is very important to have. Family Protection This is a coverage that no one should decline. It is inexpensive. If you are in a collision with a driver who is uninsured or under-insured this coverage protects you up to your third party liability limit. Visit Car Insurance Canada for more helpful information on Auto Insurance in Canada
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