Alberta announces reforms to address high premiums for auto insurance
The Alberta government is promising reforms to reduce high auto insurances costs, but the Official Opposition says the changes are so soft and cosmetic they do little for drivers getting walloped by high premiums.
Finance Minister Nate Horner announced that as of Jan. 1, drivers with good records cannot have their premiums increased by more than September’s inflation rate.
That rate was 3.7 per cent.
“Our government remains fully committed to making auto insurance affordable, sustainable and reasonable for both Alberta drivers and insurers,” Horner told a news conference Wednesday.
Horner said he didn’t know how many Alberta drivers would qualify as good drivers under their established criteria.
“We don’t know that precisely, but we’re confident it’s definitely the majority of Albertans,” he said.
“If you’ve gotten two traffic tickets in the last three years, buckle up, your rates are going to soar,” Gray told reporters.
“Many Albertans will not qualify for this cap, and the insurance industry is going to come looking to get their profits from those folks.”|Read more https://globalnews.ca/news/10063537/alberta-auto-insurance-reform/| globalnews.ca/news/10063537/al…
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