Auto insurance premiums to increase five per cent in Alberta
Published Thursday July 31st, 2008
EDMONTON - Drivers in Alberta face a five per cent increase in their automobile insurance premiums starting Nov. 1.
Alf Savage of the Automobile Insurance Rate Board says the increase takes into account the total estimated claims and operating expenses for insurance companies.
He says the increase means drivers could pay an additional $30 a year for their mandatory insurance coverage.
The insurance industry had suggested at hearings in June that it needed a 37 per cent increase because of the uncertainty surrounding soft tissue injuries suffered in accidents.
The province had capped claims for such injuries at $4,000, but a court threw out the limit earlier this year, saying it was unconstitutional.
The government is appealing the court ruling.
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