What is a Deductible? An insurance deductible is the amount you are responsible to pay for a claim before your insurance policy kicks in to cover the rest. If you pick a lower deductible you’ll be paying more in premium, but be required to pay less in the event of a claim. On the other hand, if you choose a higher deductible you’ll pay less in premium, but more if you were to have a claim. Insurance advisors can help you understand the right deductible for you and explain the balancing act between making sure you have the right coverage, while getting you the lowest price. How Can I reduce My Insurance Premiums? Maintaining a safe driving record is key to getting lower car insurance rates. The more careful you are as a driver, the more you will avoid accidents or moving violations – all events that increase your insurance rates. Insurers also reward safe drivers by giving discounts of between 10-30%, dependent on driving record. Other ways to lower insurance premiums include: Obtaining discounts/and bulk rates by insuring several vehicles and drivers with the same insurer Bundle other insurance policies, such as your home, business, and life, with the same insurance company Taking an approved Driver’s Training course with a newly licensed driver. Most insurers will credit two years of driving experience.

Starting January 1st, the Alberta government has implemented new changes that will affect every driver and insurance company in Alberta What's changing? In a nutshell, if you're in a collision, the insurance company to pay for the covered damage to your vehicle will be your own insurance company and not someone else's no matter who was at fault. The DCPD (Direct Compensation for Property Damage) will provide this protection for you. It will cover the damage inflicted from the other insured driver if they are found to be at fault. This new coverage will automatically be added if you already have auto insurance in Alberta so you don't have to do anything to get it. What's staying the same? Even with the new changes, many things are the same as before. Establishing who is at fault is still important to determining if you will pay a deductible, whether your premium will be affected due to the collision and determining which coverage the claim is paid under. Your premium won't be affected if you weren't at fault by the collision, just like before. How injury claims are paid or your rights to compensation won't be changed with the new coverage.