Alberta's Auto Policy

The Albertan Standard Auto Policy defines the parameters of a relationship between an insurance company and automobile drivers. It ensures that neither the insurer nor the insured will take advantage of each other by providing written documentation of insurance agreements.

Function

Albertan auto insurance policies ensure that individuals who have an agreement with an insurance company and pay a premium will receive due coverage. It states under what circumstances an insurance company must compensate insured persons and vice versa, such as in automobile accidents or when an insurance company is not liable to pay.

Benefits

In the case of an accident, the insurer will pay the insured person if they were injured, or his beneficiary in the case of the insured's death. The insurer will pay medical coverage for injured person's for reasons including medical bills, treatment and therapy to the limit of $50,000 per injured person.

Exclusions

Alberta's Standard Auto Policy does not require insurers to insure rented or leased vehicles or those used for other public purposes such as taxicabs and buses. It also does not cover vehicles used to transport explosives or other materials used for education, research, industrial or development.

References

• Government of Alberta: Alberta Standard Automobile Policy