When seeking a Calgary auto insurance quote, there is certain coverage that you will be required to purchase. However, the required insurance is by no means the full extent of the coverage that you may choose to get. To help you understand all the factors that go into your Calgary auto insurance quote, there are many licensed professionals who can help you sort through these issues. In the meantime, here are the main types of insurance that you may want to consider having.
Liability coverage
Liability coverage is the one type of coverage that is required for every driver throughout all Canadian provinces. When getting a Calgary auto insurance quote, if you choose only the required options, you’ll end up with a quote for basic liability coverage. While the exact amounts of mandated liability coverage vary from province to province, Alberta requires all drivers to have at least $100,000.
Under the umbrella of general liability coverage are property damage liability and bodily injury liability. What this means is that, in the event of an accident that is your fault, your insurance company will pay for the damages not only to your car but also to any other vehicles involved. Meanwhile, they’ll also cover any associated medical bills. If you have, for example, $100,000 in coverage, your company will pay all bills up to that figure, and any bills in excess of $100,000 will have to be paid out of pocket.
When getting a Calgary auto insurance quote, it’s easy to assume that you’ll never need more than $100,000. However, accident bills can add up quickly, so it’s a good idea to invest in a higher rate. Of course, the higher your liability coverage, the higher the premiums will be.
Comprehensive coverage
Liability coverage mainly covers accidents involving one or more vehicles in motion. However, there are obviously many other ways that a vehicle can be damaged. The purpose of comprehensive coverage is to cover the costs of any other types of incidents such as theft, fire, vandalism, collision with animals, or weather events. This type of coverage is never required, but it’s generally a good idea to have if your vehicle is worth more than $1,000 or so.
When seeking your Calgary auto insurance quote, be aware that comprehensive coverage rates will vary depending on how much coverage you want and the size of deductible that you’re willing to pay in the event of damage to your car.
Collision coverage
Collision insurance covers damages that result from collisions where liability is not a factor. It doesn’t cover medical bills or any other expenses that may arise due to the collision. It exists only to help pay for vehicle fixes. If you choose a high deductible in your Calgary auto insurance quote, then your premiums should stay pretty low. For example, if you agree to pay $1,000 for any collision damages of $2,000 or less, your premium won’t be very high.
Uninsured motorist coverage
Uninsured motorist coverage is useful to have in case you get into an accident in which an uninsured driver is liable. Some types also cover collisions with hit-and-run drivers or motorists who refuse to exchange insurance information after a collision.
