My insurance on my vehicle was due for renewal on Oct. 5. Although my driving status had not changed in the previous year, my insurance premium had increased from $918.76 to $1103.15, an increase of over 20 per cent.
I contacted my insurance agent, was informed that everyone was getting their increases and that the reason for this increase was that the insurance companies complained to the government that too many young people were having accidents and said companies were not making enough money!
The government responded by allowing the insurance company to raise certain parts of insurance premiums.
My collision rose from $371 to $430, an increase of 20 per cent. My comprehensive rose from $198 to $306, an increase of over 50 per cent, yet Jim Rivait, vice-president of Alberta and The North Insurance Bureau of Canada, has the audacity to state “Since the implementation of the (minor injury) cap, Albertans have enjoyed a 16.8 per cent decrease in premiums, while still enjoying robust benefits.” It would be interesting to know how he came up with this figure.
Allison R. Tays