Car Insurance in Okotoks

If you get into a car accident in Okotoks that results in bodily injury - or worse, death - accident benefits will help cover the costs. For example, accident benefits coverage, which is mandatory in Alberta, may reimburse policyholders for expenses like lost income, funeral fees, medical fees, rehabilitation, prescription medication, physical therapy, and more.

Also known as no-fault insurance, direct compensation coverage will help pay for damages if you get into an accident that was not your fault. This can include injuries and damages to your vehicle. However, you will only receive coverage when you are at fault if you have collision and comprehensive coverage.

Comprehensive car coverage is usually a choice for Okotoks drivers, meaning it isn’t required by law in Alberta. The only exception is if you lease or finance your car. In this case, buying comprehensive coverage may be obligatory according to the terms of your leasing agreement. No matter what, adding comprehensive car coverage to your Okotoks auto insurance policy makes a lot of sense.

This is one of the only types of coverage that will protect your vehicle from damage while parked. Specifically, it can protect your vehicle from damage caused by any of the named perils listed in your policy - the most common being wind, water, fire, theft, vandalism, falling objects, and natural disasters. While you can pick and choose between perils, you can also buy all perils coverage for even broader coverage.

Collision car coverage covers drivers if they get into accidents. Specifically, it can cover you for the cost of repairing your vehicle if it is damaged following an accident with another car, animal, or object on the road. When adding collision car coverage to any Alberta auto insurance policy, make sure that your coverage limit reflects the value of your car. Otherwise, if your car was totalled, your payout from the insurance company may not be enough to cover the cost of replacing it.

Accident forgiveness is additional coverage that can be added to your car insurance policy as an endorsement, to protect your driving record and to help prevent your insurance premium from increasing if you have an at-fault accident claim. Note: coverage and eligibility varies by province. Thus, we recommend getting in touch with an Okotoks insurance broker at BrokerLink who can explain how accident forgiveness works in the province. Not all insurance policies have the same terms and conditions for this type of coverage. For instance, some auto insurance providers may only permit accident forgiveness claims if the collision was minor or if the main policyholder was the one who caused the collision, as opposed to another driver listed on the plan.

Uninsured motorist coverage comes into play if you are involved in an accident with a driver who is completely uninsured or underinsured, meaning they do not have enough coverage to pay for the cost of the accident. Uninsured motorist coverage can also be claimed if the driver is unidentified or anonymous, such as if you are the victim of a hit-and-run.

Loss of use coverage is a final type of optional car insurance coverage that may be worthwhile for Okotoks drivers. It benefits drivers whose cars are damaged in accidents, as while their vehicles are being repaired, loss of use coverage will pay for alternate transportation arrangements. For example, let’s say your car is in the shop for a week. During this time, you will still need to get to work, run errands, and generally get around. Without a car, this may be difficult. Thankfully, loss of use coverage can pay for you to take public transit, rent a car, hire taxis or ride shares during this period. Please note that loss of use coverage is subject to a limit.

If you're buying a new car, adding this coverage to your policy is worth considering. It ensures you're covered for the full value of your vehicle without factoring in depreciation. That means if your car is stolen or totalled, you'll be reimbursed for the cost of a brand-new vehicle—not just what it's worth after wear and tear.