Many car owners don’t take advantage of all the options available for their auto insurance policy, like additional coverage that goes beyond the minimum liability insurance that is legally required here in Alberta. At WSYC Law in Edmonton, our car accident lawyers frequently help clients settle auto insurance claims with their insurance adjuster to get them the compensation they deserve after a fender-bender, a hit-and-run accident, or a major collision involving driver and passenger injuries. Here are some types of car insurance coverage to consider when it’s time to update or renew your car insurance policy.
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Types Of Car Insurance Coverage
Liability Insurance (Mandatory Car Insurance)
In Alberta, automobile owners are required to have a minimum of $200,000 in liability insurance coverage included in their auto insurance policy. This requirement serves as a precautionary safety net that includes both personal liability and property damage, covering any damage that you cause to another vehicle, another person, or another person’s property with your vehicle. This also covers any medical bills from bodily injuries suffered by the other driver in an accident that you caused, but it does not cover your medical bills if you were hurt, too.
Collision coverage is a type of optional car insurance that is used to pay for any necessary repairs to your vehicle if you get into an accident (even if it was your fault), or if you were to collide with an inanimate object. Collision insurance is extremely beneficial for new drivers to include in their car insurance policy, as they are less experienced and therefore more prone to causing damage to their vehicle.
Specified Peril Insurance
Special perils insurance provides additional coverage for any damage inflicted upon your vehicle that is not due to a car accident or any other type of collision. This type of car insurance covers “specified perils” that are clearly outlined in the policyholder’s plan, such as a fire, theft, or break-in. Other miscellaneous perils that are not outlined in the car insurance policy, such as vandalism or hail damage, are not covered by specified peril insurance.
This is where comprehensive insurance comes in. Comprehensive car insurance offers your vehicle total protection against any damages that would not happen during a collision or car accident. This could include a fire, hail damage, water damage, vandalism, theft, or any other potential damage, making comprehensive insurance the most broad type of car insurance available.
Our Car Insurance Lawyers Can Settle Your Auto Insurance Claim
If you were recently in a collision or noticed damage to your vehicle, contact WSYC Law in Edmonton for help settling a car accident claim. Our car accident lawyers would be more than happy to walk you through the process to get compensation for your insured loss.