Below is the new and improved Car Insurance system for Alberta Drivers. All for the better.
look we are all equal now the only difference now is amount of coverage you want and your driving record! its like this:
plpd (third party) the only thing you need to drive:
doesn’t matter if you black white ,guy girl, lesbian gay, old young, rich poor, driving the old good 1983 tempo or new escalade insured at state farm or ama or allstate for this much coverage will cost the SAME! to be exact for that much coverage this much premium not taking into consideration what you were paying before whatsoever !!!
for 200g coverage 1683$
500g coverage 1881$
1mil 1980$
annually +/-(your driving record)
driving record determination :
A. claims at fault only (for every year with none step down on the grid; so for 200g coverage you would pay 1683$ -or + % you are on the grid but for every year with claim 5 step jump up on the grid )(again amounts of claims do not affect anything)
Grid:
4
3
2
1 Up the grid every step 10% increase
Step “0”
-1 down the grid 5% decrease every step down
-2
-3
-4
so we all at 0 if we have 3 accidents and 25 years driving -25+(5x3)=-10 therefore 10stepsdown x 5% = 50% off (50% is the highest possible rate)
4 accident we go to step 20 if we drove clean for 7 years brings us down from 20 to -13 thats x 10% =130% increase. etc remamber every good year only -1 everyclaim at faul +5 steps
B. tickets come as surcharge so do not mix them with the claims at fault grid wouldn’t apply (minor , major, criminal)(in accordance with traffic act)
(for every minor ticket 1st no charge 2nd 25% increase in premium for amount of years your ticket stays 3rd another additional 10% 4th another 15% and so on …20% 25%)
(major tickets 1st 25% there after 50% 100% so basically doubles)
(criminal 300% for first and additional 150% there after for every charge )
So for a guy who drove 3 years accident free with 1 minor ticket driving lets say mustang 5.0 with 1 mil plpd would be 1980$-15%= annual premium
he gets no increase cuz first minor tickets is no increase, gets 15% off because 3 years driving with no claim at fault.!!!
if he gets another minor ticket his insurance will be up 25% etc
major 25% etc criminal 300% etc and 1 at fault claim 5 - 3=2 so 20% increase
so plpd is the same at any company now! except some companies offer additional benefits like first accident free or renewal discount or good student discount, lower house insurance etc.
collision and comp has no legislative change so that coverage will differ company to company some think thats the same NOPE!!! ama might want 1g a year on 240sx collision and or comp while statefarm wants 850$ that is determaned by company policies
all the numbers I have used above are directly from Insurance bureau of Canada if you have many tickets or no tickets but accidents at fault or many years of accident free or need 300g 0r 2mil liability go directly to their page and use their grids.!!!if you want to know your traffic ticket status consult your agent or broker about it .
I hope it helps some of you the reform is somewhat confusing
