Alberta auto insurance premiums to be held at 2010 levels

[Markham]

Hey guys

Good news for consumers for a change.

http://www.calgarybeacon.com/2011/08/alberta-auto-insurance-premiums-to-be-held-at-2010-levels/

Markham

[Modelexis]

Hey Guys,

Holding rates to 2010 levels strikes a fair balance between Albertans who pay insurance premiums and Albertans who are injured in automobile accidents and have a legitimate need to make a claim.

The decision does not apply to comprehensive coverage insurance premiums.

“Alberta consumers continue to have access to fair and affordable auto insurance,” says Board Chair Alfred Savage. “Since the introduction of auto insurance reforms in 2004, premiums for mandatory auto insurance coverage have decreased by 23 per cent.”

The decision applies only to mandatory coverage required by law and includes third party liability and accident benefits coverage. It does not include optional collision or comprehensive coverage whose premiums are set by individual insurance companies.

The Board’s mandate is to ensure an efficient and effective automobile insurance market with rates that are predictable and fair for both motorists and insurance companies. It reviews auto insurance rates every year, after which any adjustments will take effect on November 1 of the same year.

-Modelexis

[Xtrema]

All the hail damages will come out of the comprehensive coverage increase anyway.

[Masked Bandit]

If the government forces McDonalds to sell their Big Mac for $1 you'd better believe the price of your fries is going up.