Insurance brokers like us at Lane’s provide a distinct advantage to our clients. We work specifically on behalf of you — not the insurance companies — meaning we are able to provide access to several policies from numerous reputable providers. So we are actually doing your shopping for you! As independent professionals that act as agents, connecting clients with the insurance products they need to protect their homes, vehicles, businesses, property, and interests, we can find the best Calgary car insurance policy to perfectly suit your needs.
After years of walking our customers through the different choices available, we know there are certain subjects that come up over and over again. Here is our list of the most common Calgary car insurance questions we come across.
Do I need collision coverage?
We hear this question a lot, and the answer is not that simple. The three major components to auto insurance in Alberta are liability coverage, comprehensive coverage and collision coverage. In Alberta, it is mandatory that each vehicle owner be covered for at least $200,000 in Third Party Liability and Accident Benefits. The other two components – comprehensive and collision insurance – are accident insurance options and may be purchased individually, together, or not at all. Comprehensive coverage provides for repairs for damage caused to your vehicle by perils other than collision or upset. Vandalism, flood, hail, theft, windshield damage and fire are all examples of events usually covered by comprehensive automobile insurance. Collision insurance pays for damage caused to your vehicle in an automobile accident, such as contact with another car, a rollover, or a collision with a building or inanimate object. Additional examples of incidences in which you may use collision insurance coverage are hitting a pothole or a curb, reversing into another car and when a driver other than you causes damage.
Some of our clients who own vehicles that are older and do not carry much value only purchase comprehensive coverage. Premiums are lower and the money that is saved could go towards paying out-of-pocket for repairs. In a very general sense, this could be loosely defined as vehicles that are worth $5,000 or less. But if you own a vehicle that is in good shape and that you want to keep for a long time, you should consider collision insurance.
What about glass coverage?
Many don’t realize that their windshield provides a vital layer of protection in case of an accident. Windshields are a major component of your car’s safety restraint system, working in tandem with seat belts and airbags to shield occupants from harm in the event of a head-on collision. They also play an important role in the overall stability of your vehicle’s construction, as they are designed to absorb impact if a car accident sends front-seat occupants forward, helping protect from potentially life-threatening injuries. And a crack- and ding-free windshield provides a clear, unobstructed view of the road ahead. Glass protection is typically included, at least to a partial degree, in most comprehensive car insurance policies. If you wish to waive your glass coverage, you may do so by purchasing a 13D endorsement.
Am I covered if I lend my car to a friend?
If you lend your car out to someone from time to time, and they have a driver’s license that is in good standing, your policy will provide the primary coverage if they are in an accident. If your friend has an insurance policy, their policy will likely only cover the amount over and above your coverage limits. Keep in mind that when you lend out your car, you are also lending your car insurance. However, all policies differ, and some might outline conditions for coverage. If your policy is unclear, it is a good idea to contact your insurance broker so that he or she can go through the policy details with you.
Am I covered for my rental car?
Car insurance policies do not automatically provide coverage for a rental vehicle. In order for a rental vehicle to be covered, your policy needs to include several specific coverage options. First, you must have both collision and comprehensive coverage on your personal vehicle. In addition, you must also obtain an SEF 27 or “Legal Liability for Damage to Non-Owned Automobile” endorsement, which transfers the coverage from your personal vehicle to the rental vehicle. If you often rent vehicles for work or travel, we can assist you in arranging for this additional coverage.
What if possessions are stolen from my vehicle?
Unfortunately, your car insurance policy does not include valuables in your vehicle. Fortunately, however, your home, condo or renters insurance policy does. Renters insurance is one of those policies that is often ignored or forgotten about, but remember that it covers you for theft of your belongings even if you are not at home when the crime occurs. In addition, renters insurance is very affordable.
Calgary Car Insurance From Lane’s of Alberta
Lane’s Insurance has some of the top Calgary car insurance brokers on its team, and we always work to protect your best interests. Contact us at our Calgary, Banff, Edmonton or Alberta offices for a fast, free quote.