Auto Insurance 101: Coverage
There are many features to the Alberta Standard Automobile Insurance Policy, also titled the “S.P.F. No. 1” in insurance jargon! Working in the insurance industry for over 30 years, we often come across individuals who are unclear about what coverage they have or what coverage options are available to them. Therefore, in part two of our three part series, we thought it would be helpful to breakdown a standard automobile policy into the different areas of coverage available.
Section A – Third Party Liability
Section B – Accident Benefits
Section C – Loss Of or Damage To Insured Automobile
Family Protection Endorsement (S.E.F. 44)
There are many additional Endorsements that can be added to your policy, which we will discuss in part three of our Auto Insurance 101 series.
When purchasing an additional vehicle or substituting a vehicle, please ensure that you contact us PRIOR to operating the vehicle to ensure that adequate coverage is in place. There is limited coverage for newly acquired automobiles under the Alberta Standard Automobile Insurance Policy.
Hopefully you have found this summary of coverage helpful, and as always, please do not hesitate to contact our Office as we would be more than happy to answer any questions you have!
The Costen Insurance Team