Reasoning behind new alberta auto insurance reforms?

[Xpnsve]

So...

Considering they capped injury claims which constitute probably more than 70% of overall insurance claims, shouldn't everyone's rates reduce more than 2%?

I mean, if you were paying these high rates for high injury coverage, and now small claims coverage is next to nothing, shouldn't insurance rates be lowered too??

I think insurance companies agreed to this new proposed system because now, they can give you a infidecimal decrease in your already high rates they don't have to pay for small claims!

[Speed_Dreams]

I think they just made all there money back that they lost during 9-11 and they want all there bussiness back

[rage2]

Originally posted by Xpnsve
Considering they capped injury claims which constitute probably more than 70% of overall insurance claims, shouldn't everyone's rates reduce more than 2%?

I mean, if you were paying these high rates for high injury coverage, and now small claims coverage is next to nothing, shouldn't insurance rates be lowered too??

Rates are lower... but not for the majority of the people. The new system benefits young drivers under 25 years of age, as well as the ones that have multiple claims. The large reduction for this group of people allow them to continue to drive.

It sucks for old farts like myself.