Is fire insurance mandatory in Alberta?
Is fire insurance mandatory in Alberta?
Nearly all property insurance policies provide coverage for fire, including but not limited to wildfire. Property insurance is not a mandatory product, unlike basic automobile insurance. This means each insurance company establishes its own property insurance policy wording, coverage limits, and price.
Why is insurance so expensive in Alberta?
The 3 biggest reasons Alberta auto insurance rates are going up are: The inflation of the cost of accidents (due to repairs and liability). The increase in the frequency of accidents. A rise in natural disasters and weather damage.
Why is Calgary car insurance so expensive?
The province says the reason rates have dramatically increased is due to a spike in costs for the insurer, including injury claims, lawsuits, and vehicle repair liabilities.
