Alberta auto premiums dropping
Posted Jul 29, 2010 11:12 pm.
This article is more than 5 years old.
Driving your car is about to get cheaper in Alberta.
The province has announced it’s ordering a five per cent cut in auto insurance premiums for mandatory coverage.
It works out to a savings of about $30 for the average driver. The rate reduction takes effect November 1st.
Since the introduction of auto insurance reforms in 2004, premiums for mandatory coverage have decreased by 23 per cent.
The Automobile Insurance Rate Board travelled the province in June to get input from Albertans.
The board’s executive director Del Dyck tells 660News, the rate cut stems from a consistent decline in the number of injury claims over the last few years.
“1998 was probably the peak for claims, which was about 12 per 1,000. Since then it’s been declining by about six per cent a year”, said Dyck.
The decrease doesn’t affect optional coverage like collision insurance.
