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Car Insurance Quotes in Alberta
Auto insurance in the province of Alberta is mandatory for all vehicles. The minimum third party liability limit that you must carry on your car in Alberta is $200,000. You must have this minimum limit on your policy before you can register your automobile. It is illegal to drive uninsured and unregistered automobiles in Alberta.
Like the other provinces in Canada, Alberta has no-fault insurance. No-fault car insurance is a type of insurance contract where the policyholder makes a claim of financial benefits to their own insurance company. Both parties involved in the automobile accident are required to go to their own insurance company regardless of who is at fault.
Auto insurance in Alberta is regulated by the Automobile Insurance Rate Board (AIRB) and the Office of the Superintendent of Insurance.
The AIRB’s mandate is to regulate premium level for basic coverage, third party liability limits of $200,000 to $2,000,000 and accident benefits, monitor premiums for optional coverage and review and approve rating programs for new insurers entering the Alberta market. The board annually sets the maximum premiums for basic insurance coverage that all insurers can charge.
The Alberta Government developed and implemented The Premium Grid in October 2004. The Grid sets the maximum premium car insurance companies are permitted to charge for basic coverage for a private passenger vehicle.
Car Insurance Grid Rate Calculator
The premium grid calculator is designed to assist you in learning more about your auto insurance premiums on the premium grid.
The calculation of your maximum premium for basic coverage is dependent on the following factors:
1. Level of third party liability coverage;
2. Where you live;
3. Number of years licensed – this includes the date you received your license until now, rounded down to the closest number of years;
4. The number of at-fault claims in the last six years and of that number, how many occurred in the last three years;
5. The number of driving convictions, which include traffic safety and serious convictions in the last three years and criminal code convictions in the last four years
For more information visit http://www.airb.alberta.ca/
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