Moving to Alberta – You’ll Need to Changeover Your Insurance

Are you are planning on relocating to Alberta? If so, congratulations! This is a great place to live with many things to see and do. There are also many excellent job and business opportunities here. While you are in the process of getting things together don’t forget about the insurance changes that you’ll need. Here are some important things to know about insurance, when moving to Alberta.

car insurance

Alberta has mandatory car insurance. You will need to carry at least $200,000 in liability insurance, how ever we recommend that you carry $1,000,000 in liability insurance as the cost difference is very low for the increase in coverage. You also must take out accident benefits coverage.

You are going to need an Alberta driver’s license. However, you will have three months (90days) to do this. In order to get a new license and registration, you must have the mandatory minimum insurance coverage. However, first you should contact your previous insurance company about a letter of claims and experience.

What is a Claims and Experience Letter?

Your previous insurer provides important information about your driving record and past insurance claims. This helps the new insurance company establish your driving history with them. They cannot simply take your word that you are a good driver and have filed no insurance claims for the past few years.

Official Driving Record

Go to your transportation department (in your previous city). Ask about an official record of your driving history. Once you have this document and a statement from your prior insurance company, it can save you a great deal on car insurance.

Moving Insurance

Make sure you are properly insured while in the process of relocating. For example, here are some questions to ask your new insurance agent:

• Are my belongings covered while in transit?
• Do I need additional car insurance coverage for the rental truck (assuming you are doing the driving)?
• Should I buy the loss damage waiver on the rental truck?
• Do I currently have sufficient car insurance for my vehicles?

Home Insurance

Make sure not to cancel your current Homeowners Insurance policy while the house is still in your name. You are responsible for things like liability insurance claims and damages while you own the home. Are you planning to move to a condo? You may want to think about taking out loss assessment insurance. Sometimes condo costs (for repairs or lawsuit settlements) may exceed their coverage limits and you may need to make up the difference. Loss assessment will protect you against these unexpected expenses.

Do you plan to rent? Do not forget to have Tenants Insurance effective the day you move in. Your landlord is only responsible for the building. Tenants insurance will cover the contents of your home in case of damage or theft.

Travel Insurance

Travel Insurance is not just for those on vacation. For example, if you are emigrating from the US, you will not qualify for National Healthcare Insurance right away. You should consider a medical insurance policy to fill in the gap. Even if you are moving from another province, you might not be covered immediately. Your insurance agent can tell you more about health insurance and travel.

Policy Consolidation

Moving to Alberta will take some adjustments and there are many things to do. Consider going with a trusted independent insurance provider like Alpine Insurance & Financial Inc. We can help you with all your insurance needs and you can usually get a lower rate when you combine policies with one insurer.

What is an Independent Insurance Broker?

A typical insurance agency has people working for one insurance company, and this provides few coverage options. A brokerage like Alpine Insurance & Financial Inc has independent insurance brokers working for their customers. A broker can represent many different insurance companies and this comes with a host of benefits to you, such as:

• Lower premiums – we check out all the available options and give you the best deals. We sometimes find offers that you might not be aware of, and this can save you even more money.
• Improved claims service – with a standard insurance agent, you must deal with their claims service, but what if you have problems? Your broker is there to help you solve your claims problems and you are not alone in the process.
• Annual insurance reviews – your insurance needs can change a great deal in a year’s time and we can go over all your needs to help you keep your policy up to date.
• Your insurance broker is on your side. He or she is there to look out for your best interests.
• Expert advice from experienced insurance professionals

Your broker at Alpine Insurance & Financial Inc is there to help make the transition of moving to Alberta, smooth and pain free. Let us take care of all your insurance needs, and ease the burden of relocating. Call us today at (877) 770-8822.