Edmonton Car Insurance

Edmonton Car Insurance

The city of Edmonton is the capital of the province of Alberta. With over a million residents, Edmonton is the northernmost city in North America with a population that large. Edmonton is also one of the largest cities in North America due to its area. The city is nicknamed “The Festival City” due to the many festivals it hosts year round. Special to Edmonton is the Fort Edmonton Park, the largest living history museum in Canada. Edmonton’s economy is based on the petrochemical industry as well as technology and many smaller industries.

Transportation Options in the City

Many people get around Edmonton by using public transportation. The Edmonton Transit System runs a light rail line as well as many bus lines. 34% of people in Edmonton use public transportation each day, with approximately 280,000 people riding buses on average a day. Many people in Edmonton also use cars and trucks as their main way to get around this great city and finding reliable and affordable car insurance is important to them. Edmonton is about a three hour drive from the City of Lloydminster.

There are 70 Insurance Companies in Alberta

Drivers in Edmonton are required by Albertan law to have auto insurance. Edmonton auto insurance is sold by around seventy different private companies in the area. Private companies such as State Farm Insurance are huge companies that provide insurance to people all over North America, while smaller companies like Canadian Insurance Broker and Sharp Broker Services operate in much smaller and more specific regional areas.

Minimum Requirements for Edmonton Drivers

The Albertan government has instituted several requirements in the area of auto insurance minimums. These requirements include purchasing third party liability for up to $200,000 for one accident. Drivers need to have medical coverage for up to $50,000 a person for up to two years. They also need to purchase funeral expense benefits, disability income benefits, and death benefits. It’s important to note that in Alberta, it is legal for people to sue for pain and suffering as well as for economic loss in excess of no-fault benefits, something that isn’t true of all Canadian provinces.

Although auto insurance is provided by private companies in Alberta, the Albertan government is actively involved in the insurance process. For example, in 2004 the government made some changes to the car insurance system in an effort to benefit both insurance companies and consumers. For more information about those reforms please see our Alberta Car Insurance page.