Monthly Archives: July 2018

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.

Car Insurance – Cushion Huge Expenses and a Legal Protection

A car has become a basic need of families now-a-days. You can see many small, big, different models and companies cars rushed on the road around all the cities. We all know that a good car comes under a luxury item and no one wants to spend money on this on daily basis. Could you afford to buy a new car because one you had damaged or stolen? Yes answer is most of the people can’t. So there is a solution to protect your favorite and needed car- the car insurance.

What is car insurance?

It is a type of a contract between the car owner and insurance company. In this contract car owner pays the premium and the insurance company pays the losses or theft of car. A car is often a high expense and you want to insulate it. So insure your car and feel safe to roam around!

It repairs all types of damages

The aim of such insurance is to serve the victim. It pays to repair all types of damages such as weather damage, flood damage, fire damage and animal smashups. If your car is wrecked due to any mention damage in insurance papers, company will provide you amount for the relevant damage.

Clinches the peace of mind

Same as its spelling “insurance”- it insures peace of mind to deal with daunted bearings that completely hooked with budgeting. Unforeseen situations can happen anywhere with anyone but this type of investment keep your mind peaceful in such situations. It brings immediate relief from stress and survives in such incidents.

Bear thefts- roaming and parking is comfort

Could you purchase a new car because the one you had is pilfered? It’s difficult to bear a loss of theft of your favorite or luxury car. But you may feel recline from the fear of theft if you have insured your car. The company from where you have purchased insurance compensates you the value of car that was stolen.

Easy to excess

Car insurance is an easy and fast process to protect your car. You can purchase or renewed insurance online that is an easy and fast process. It is accessible by anyone as per the time and convenience.

Premiums and claims

Premiums and claims may different according to company’s policy. It totally depends on which type of policy you want to buy. But it is easy to pay premium because companies will provide you online facility to access all information. If you do not claim during the policy period No claim Bonus will offers you renewable policy in certain terms and conditions.

Car insurance contributes to legal, mental and financial peace which makes driving, buying or owning a car easy. It is a best way to boost broad coverage against debt you might face due to car theft or damage.

All You Need to Know About Auto Insurance

What is auto insurance?

It is an agreement between you and the company that defends you against any monetary loss in the happening of an accident or theft. In trade for your paying a premium, the insurance company agrees to pay your losses as summarized in your guidelines.

Auto insurance is made obligatory by most of the states and this provides you with some economic protection in case of an accident or any misfortune. But this information is not enough for an individual to decide whether he should take up auto insurance or not. For this, you need to more about different kinds of aspects provided by various schemes. So let us learn how this works and what is obtainable from it.
Different types of Auto insurance:

• Property – This includes losses such as damage to or theft of your car.

• Liability – This includes your official responsibility to others for physical injury or assets damage.

• Medical – Includes the cost of treating injuries, therapy and any other kind of medical expenses.

Fundamentals of Auto Insurance

You need to understand some basic things about your scheme. Auto insurance might be different in some ways but here are some common things about it that will mostly remain the same.

• Your policy will cover you and your family members listed on the auto insurance, whether you are driving your car or someone else’s car (with their authorization).

• Your policy will also provide protection if someone who is not in your scheme is driving your car with your approval.

• Your personal vehicle insurance only covers driving for personal reasons, whether you’re commuting to your office, running household errands or taking a trip to another city. But it will not provide any kind of cover if you use your car for profitable purpose. For instance, if you rent out your car or use it for delivery purposes.

• Personal auto insurance will also not offer coverage if you use your car to supply transportation to others through a ride-sharing service such as Uber or OLA. A number of auto insurers, on the other hand, are now offering supplemental products (at an extra cost) that expand coverage for automobile owners providing ride-sharing services as well.

Is Auto Insurance Mandatory?

Requirements differ from state to state and you might have to get it depending on your state’s legal guidelines. If you are financing a car, your lender may also have its own necessities and might want you to get it. Almost every state requires car owners to take:

• Bodily injury liability – which covers expenses related to injuries or death that you or another person has faced in an accident while driving your car.

• Property damage liability – which compensates others for damage that you or another person who was driving your car might have caused to another vehicle or other property, such as any boundary marker, any building or pole in the accident.

These things make it compulsory to enroll in one policy as soon as possible. This will not only help you but also your family members. So make sure you take up a policy as soon as possible for a safe and secure drive.

Life Without Car Insurance Can Be A Nightmare

When going out for a drive, Car owners should take great care not just about their life but also of their car. But sadly not every car owner is cautious while driving which leads to road accidents and ultimately them ending-up paying unexpected expenses.

If you’re a car owner without car insurance you should consider buying one, as owning a car without an insurance policy can be a living nightmare full of bills that need paying.

1.) medical bills-

A car accident can lead to injuries which ultimately land you in a hospital where you spend time in recovering and paying your medical bills.

2.) medical bills of the people injured-

If the people around the incident were injured as well, you would also have to pay their medical bills.

3.) Repair costs of the property damaged-

Say for instance your car collided with the entrance of someone’s front gate. You end up paying for their damaged gate as well.

4.) Repair costs of the car-

And let’s not forget about the repair costs of your damaged vehicle.

5.) Totalled car

Say for instance you were driving a car that you just bought with an EMI plan. It’s the third month and your car is completely totalled because of an accident.

In other words, you lose your perfectly new car and would still have to pay the EMI amount every month.

You’ll be surprised to know that at times mishap to your car can also happen because of external factors like –

1.) Vandalism

Scratches, dents, broken glass, graffiti, glue in keyholes, and slashed tires are some of the most common types of vandalism faced in inner cities.

2.) Theft of car parts

Thieves find this to be an effective way of making easy money, as stealing car parts don’t require much skill and can be accomplished in minutes.

3.) Stolen cars

Every year, police make some progress in recovering stolen cars however, the recovery rate is still not close to the total number of cars stolen.

4.) Riots

Riot is a time when parked cars face maximum damage in the form of loots and vandalism.

5.) Flooding

From forming rust to damaged electronic wiring, floods are a natural disaster that can ruin your brand new car.

No More Mistakes With Types of Car Insurance Before You Get a Quote

The insurance company will offer two types of car insurance that you can choose before you decide to buy it. Each type of insurance is called car insurance TLO and All Risk. So, before you choose which type of insurance you will use, you need to know in advance what is meant by the policy along with the coverage offered.

TLO, All Risk, and Comprehensive Insurance

TLO car insurance stands for Total Loss Only. Based on the name, at first glance, you may have guessed about how the work of this type of insurance.

This insurance has the primary objective of providing risk coverage to the “total” level or a car with a truly severely damaged condition, with an important note where the extent of the damage must exceed 75 percent if you want to get insurance coverage.

In addition to such damages, TLO can also provide coverage for car loss case. Meanwhile, All Risk car insurance can provide coverage for any type of risk that occurs in your car, although of course, this insurance has some more requirements for the car to meet the feasibility in order to get compensation.

However, there are some conditions where the risk of the car can’t be claimed to the insurance company.

Risks include:

  • Damaged by accident for violating traffic regulations,
  • Damaged by natural disasters,
  • Damaged by all kinds of riots, and others.

However, you do not have to worry because those risks can still be covered by the insurer if you use extended insurance coverage.

Car insurance, in general, does not provide coverage caused by the riots, but you can get it easily by using expansion. Well, if your car is using All Risk insurance, and after that, you add it again with expanded coverage, it will become comprehensive insurance.

Well, if your car is using All Risk insurance and after that, you add it again with expanded coverage, it will become Comprehensive insurance.

In other words, comprehensive insurance is a combination of All Risk insurance coverage with one or more coverage. Because of the completeness of the protection provided, when compared to two other types (TLO and All Risk), it is not surprising that this plan has a higher premium rate than others.

The conclusion is that TLO car insurance is a type of insurance with the cheapest price, while the premium cost of All Risk is in between.

However, it does not mean that one type of car insurance is superior to other insurance because the protection of all types of car insurance has its own advantages.

Moreover, the most important thing here is that you have protection for your car. This is certainly better than when you have no insurance at all to anticipate the possible losses.

Conclusion

The car is one of your valuable assets and you would certainly agree with this statement. Car prices are not exactly cheap. Risks with worst-case scenarios can happen. So, undesirable events can lead to huge losses if you do not have car insurance.