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Wednesday, 13 May 2015

New Drivers to Alberta Insurance Rates

How to save money on your car insurance:


Sharp Insurance brokers are experts in providing great insurance rates for new drivers to Canada. Many new residents of Canada may be shocked to learn their vehicle insurance rates are so high. Why is this? Well, most of the major insurance companies in Alberta will rate a seasoned driver from another country as a new driver in Canada, thereby causing insurance rates to skyrocket. There is good news; some companies will give out-of-country driving experience and insurance history that will drastically lower your insurance rates, and save you up to thousands of dollars a year.


What do you need to do to get a better rating?



Research:

Remember, only a few insurance companies will allow out-of-country driving history to factor into their insurance rating. The most time efficient way to find these insurance companies is to go through a broker instead of a direct insurance company.

A brokerage will have access to several companies, and will know which of these insurance companies will provide you with the best rate depending on your experience outside of Canada.


Documents:

The most important information you need to save money on your insurance is documentation. This cannot be stressed enough. There are many instances of clients coming to Alberta from different Countries, who have been driving and have been insured for many years, but could not benefit from this because they did not keep the proper documentation. One piece of paper could mean a premium difference of up to $1500!

You need two documents to ensure the best price for your insurance: A driver’s abstract and a claims experience letter.

Driver’s Abstract:

It is vital to have an official record from your previous country’s registry or equivalent that states when you have originally been licensed and whether or not you have had any convictions. Alberta car insurance rates are calculated primarily from your driving history.  Without this, you will be rated as zero years of driving, thus increasing your insurance rates.

Claims Experience Letter

The second most important determinate of rates is called a claims experience letter. Alberta car insurance rates are calculated by factoring in the amount of years you have had continuous insurance without any accidents. A claims experience letter must be provided from your insurance provider, on their letterhead, and must contain the following information: Your full name, the years you have been insured, and whether you have had any insurance claims.

With these two documents, Sharp Insurance will give you the credit you deserve, and you will see a significant savings on your Alberta car insurance rates. 

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