The Canadian Press - ONLINE EDITION
Alberta Insurance Board orders rollback on mandatory auto insurance rates
EDMONTON - Alberta drivers are to get a bit of a break on their automobile insurance.
The government-appointed Insurance Rate Board has ordered insurance companies to reduce premiums on mandatory automobile insurance by five per cent this year.
On average that will amount to a $30 dollar saving for each driver when the change comes into effect on Nov. 1.
Alfred Savage, chairman of the board, says the rate cut stems from a decline in the number of injury claims.
He says the decision to reduce premiums is based on input from Albertans, the board’s consumer representative, the board’s actuary and insurers.
The change only applies to mandatory coverage, not optional collision or comprehensive coverage.
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