Basic Auto Insurance is mandatory throughout Canada. Provincial governments determine which benefits are included as minimum requirement for coverage and which benefits are options available for those seeking additional coverage. Accident Benefits and Third Party Liability coverage are mandatory in Alberta. Typically, coverage against loss or damage to the driver’s own vehicle is optional. If you are found at fault in an auto accident you can be sued for damages. By purchasing auto insurance you are releasing yourself of the financial burden of paying for those damages in an auto accident from your own pocket.
At Roger E Johnson Agency we can put together an auto policy that suits individual needs. Below are some of the coverage’s that are available.
Section A – Third Party Liability
This section of your policy will pay for bodily injury and property damage you are found at fault from your ownership, use or operation of a vehicle. This is mandatory coverage in Alberta.
Section B – Accident Benefits
Provides limited medical protection, death benefits and lost wages to you the insured from use or operation of the vehicle. Again mandatory coverage in Alberta.
Section C- Loss or Damage to Insured Vehicle
Below are four areas of coverage which are available to protect the insured vehicle. This coverage is optional. Examples of what each area covers are as follows:
All Perils: All coverage’s below combined with some exclusions.
Collision: Only impact with another vehicle, road or object.
Comprehensive: Impact with an animal, vandalism, theft, fire etc.
Specified Perils: Fire, theft, hail or wind, etc. (not deer nor vandalism)
Common Endorsements found on most auto policies:
- SEF 44 – Family Protection Endorsement – This allows your policy to pay for damages to you when the responsible party does not have insurance coverage.
- SEF 20 – Loss of Use – This coverage allows for rental money to be paid by the insurance company when your vehicle is being repaired from an insured peril.
- SEF 27 – Non-Owned Auto Liability – This allows coverage of liability and physical damage (usually up to a specific limit) to be extended to a vehicle that is rented by an insured.
- SEF 43R – Waiver of Depreciation – Put on vehicles when purchased new by the insured’s to allow no deduction for depreciation in the first 30 months of ownership when a loss occurs.