Car insurance in Edmonton, and the rest of Alberta for that matter, is governed by the Alberta Auto Insurance Rate Board (AAIRB). Government organizations like this exist in each province and work to control the rate that insurance companies charge for their insurance within each province.
Who Do I Buy Insurance From?
Insurance can be purchased from either direct insurance companies or from insurance brokers. Insurance brokers are governed by an independent provincial body called the Insurance Brokers Association of Alberta (IBAA).
When you buy from a direct company, you are buying your insurance “directly” from the company that supplies it. When you buy from a broker, however, you are buying from a licensed organization that has access to pricing from multiple insurance companies. Often this is the easiest way to get the best price on insurance without having to fill out 10 applications!
What Should I Look for In An Insurance Policy?
No matter who you buy your car insurance from, you’ll want to look for two things:
- Adequate coverage
- The best price you can find
To get both of these, you need to speak with someone who has the knowledge and education to do both of these. Insurance isn’t a self serve product that you buy off of the shelf. It’s complicated and making the wrong choices could have severe consequences.
When you’re ready to by car insurance in Edmonton or anywhere else in Alberta, speak with an insurance broker you can trust.