Is Your Auto Insurance Policy Providing Enough Protection?
January 10, 2024
When it comes to car insurance, many of us believe that we are good drivers and may only need liability coverage. After all, accidents happen to other people, right? But what if the unthinkable happens? What if your car is stolen or, even worse, goes up in flames? Have you ever wondered how your coverage would protect you in such situations?
At Ing & McKee Insurance, we understand the importance of having appropriate insurance coverage. We want to ensure that our clients are prepared for any unforeseen circumstances. That’s why we encourage you to review your insurance policy and understand how it can affect you in different scenarios.
Vehicle theft is indeed a significant concern in Alberta, Canada. Here are some statistics related to vehicle theft in the region:
- Alberta had an 18.3% increase in vehicle thefts from 2021 to 2022, making it the province with Canada’s second-highest auto theft rate.
- Approximately 57 vehicles are stolen every day in Alberta, and there are 95 thefts from vehicles each day.
- Alberta has an index of 13.1 stolen cars per 10,000 inhabitants, which is more than twice the index of Quebec.
- In 2022, almost 21,000 vehicles were stolen in Alberta, accounting for nearly 20% of all motor vehicle thefts in Canada.
We hope that you never find yourself in such unfortunate circumstances; it is so important to be prepared. Your insurance broker is here to help navigate the complexities of car insurance and explain the risks involved in different coverage options. However, the ultimate decision lies with you.
Reviewing your policy and assessing whether it will protect you against potential risks is essential. Consider the value of your vehicle, your driving habits, and the area where you live. By taking the time to evaluate your coverage, you can ensure that you won’t be caught off guard if the unexpected happens.
- Value of your vehicle: If you have a newer or more expensive car, it may be wise to invest in comprehensive coverage that will protect you in the event of theft, vandalism, or damage from natural disasters. On the other hand, if you have an older vehicle with a lower market value, you may choose to opt for more cost-effective options.
- Driving habits: Are you frequently on the road, commuting long distances, or engaging in high-risk activities? These factors can increase the likelihood of accidents or incidents and may require additional coverage. Understanding your driving habits will help you determine the level of protection you need.
- Where you live: Certain regions may have higher vehicle theft rates or greater exposure to natural disasters. By understanding the risks associated with your location, you can make informed decisions about coverage options that address these concerns.
Life is unpredictable, and accidents can happen to anyone. That’s why our team at Ing & McKee Insurance is dedicated to helping you find the right coverage for your needs. Don’t wait until it’s too late. Reach out to our knowledgeable brokers who can guide you through the insurance process and provide peace of mind.
Remember, life happens, but stay prepared with Ing & McKee Insurance. Contact us today to review your insurance policy and ensure you have the coverage you need when it matters most.
For more statistics, click on the link below.
Car Theft Statistics from 2021
These statistics include: car theft claims across Alberta, how many vehicles were stolen across Canada/second, the Alberta 2021 top 10 stolen cars ranking, and the annual cost of car theft for insurance companies across Canada.