Red Deer
Personal Insurance
Do I need Personal Insurance in Red Deer?
Are you wondering if you need personal insurance? Red Deer residents should have personal insurance to help ease the financial burden of an expected event. Most Red Deer personal insurance products have two sides: liability and property damage. The liability portion can help cover your legal expenses if you’re held liable for someone’s injury or property damage. The physical damage part can help you replace or rebuild your property after a covered event, like a fire or bad storm. Of course, if you are interested in life and travel insurance, these types of personal insurance help Red Deer residents cover the financial hardship of an unexpected death or medical bills while travelling.
Here are a few reasons you need personal insurance in Red Deer:
- You are legally required to have $200,000 third party liability auto insurance in Red Deer (and Alberta as a whole).
- Mortgagers and other lenders often require insurance coverage for financed property.
- You could not afford to do major repairs or replace your home, belongings, or vehicle if it was damaged or destroyed.
- You want to offset the financial burden of unexpected events such as damage, a lawsuit, or medical bills.
- You want to provide for your loved ones in the event something happens to you.
- Your employer does not offer benefits or you’d like to improve your benefits coverage.
What does Personal Insurance in Red Deer cover?
There are a few types of personal insurance products:
- Auto insurance, including motorcycles and motorhomes
- Home, condo or renters insurance (property insurance)
- Toy insurance, including ATVs, RVs, boats, classic cars, and snowmobiles
- Personal cyber insurance
Personal Auto Insurance in Red Deer
Your coverage always depends on your insurance company and your choices. Here are some of the available personal car insurance options that may be available to you:
- Third-Party Liability – This offers protection in the event someone is injured or has their property damaged. The Alberta legal minimum is $200,000; however, accident lawsuits can easily be far more expense so our personal insurance brokers in Red Deer recommend a higher limit of $2,000,000.
- Accident Benefits – This can help cover your medical expenses if you are injured in a collision. Accident benefits is mandatory in Alberta.
- Direct Compensation Property Damage – This coverage can help you cover repair or replacement expenses if your vehicle is damaged in an accident, where you were not at fault or partially at fault. Direct compensation property damage became mandatory in Alberta on Jan. 1, 2022. Note: If you were partially at fault, this coverage will only be partial. You will need collision coverage or pay out of pocket for the remaining costs.
- Collision – This coverage can help cover the repair or replacement of your vehicle if it’s involved in a collision, for which you are at fault. It can also cover your portion of the repair costs if you are partially at fault.
- Comprehensive – This coverage can help cover the repair or replacement of your vehicle if the damage is caused by something other than an accident, including theft or fire.
- Loss of Use – If your vehicle is involved in an insured claim, you can get some funds to cover public transit, taxis or a rental car.
- Rental Car or Non-Owned Vehicles – Extends your insurance to vehicles that aren’t owned by you. This is great if you plan on renting a car.
- Ride-Sharing – If you’re a ride-sharing driver, you need special add-on coverage or a commercial vehicle policy to ensure you’re protected.
You’re generally required to pay a deductible before your insurance kicks in and there are always limits to your coverage. Your personal insurance broker in Red Deer will be able to help you balance your coverage needs with your budget.
Personal Home Insurance in Red Deer
Home insurance has three main areas of coverage:
- Third-Party Liability – protects you in the event someone is hurt or has their property damaged at you home.
- Property Damage – if your home and personal belongings are damaged (by an insured cause of damage), this coverage helps you rebuild and replace them.
- Additional Living Expenses – if you’re forced to temporarily relocate from your home due to an insured claim or a mandatory evacuation, you can receive some help with the additional expenses you take on.
Many policies also include coverage for identity theft, lock replacement, and food spoilage. There are a lot of optional coverages that can extend your coverage. It’s important to discuss everything with a personal insurance broker to ensure your Red Deer home is protected.
Condo and renters insurance is very similar to home insurance, with the exception that the home’s structure is not covered. Condos have a master condo policy to protect the structure and your landlord’s insurance should cover the structure of your rental unit. However, both of these policies will not protect any of your belongings, including furniture.
Leisure & Lifestyle Insurance in Red Deer
Central Alberta has fantastic access to camping and fun. Many of us own RVs, boats, ATVs, classic cars, snowmobiles and other toys. Your personal insurance can help protect your recreation time through reducing the financial burden of repairing or replacing them if they’re damaged by certain perils. Many leisure & lifestyle insurance products also include third party liability, in the event someone is hurt or has their possessions damaged while using your toy.
As each of these individual toys has unique insurance coverage, talk to your Red Deer personal insurance broker for more details.
Travel, Life & Benefits Insurance
Travel insurance generally encompasses these four parts:
- Travel Medical – Can help cover emergency medical bills abroad.
- Trip Cancellation – Can help you recover some of your financial investment in a trip if it has to be unexpectedly cancelled.
- Trip Interruption – Can help you get home if you need to end your vacation early or if you experience delays in your travels.
- Baggage – Can help provide the necessities if your baggage is delayed or help replace the contents if they’re stolen or lost.
These can generally be purchased separately or together as a package.
Life insurance can help provide for your family or in the event you pass away prematurely. You can also opt for disability insurance, accidental death & dismemberment, and critical illness insurance. There are many aspects to this area of coverage, so we recommend meeting with a Red Deer personal insurance broker at Rogers Insurance to discuss your needs.
Benefits generally include extended health insurance coverage, as well as dental and drug plans. Here at Rogers Insurance, we have several specialists who can help you with this type of coverage.
Request a personal insurance quote for Red Deer online, by phone, or in-person at our local office. We’re happy to answer any questions!
Personal Cyber Insurance
Cyber insurance is a newer coverage available to our personal insurance clients in Red Deer. It can be a standalone policy or added on to an existing property insurance policy with certain insurers. It’s affordable protection for a critical risk in today’s digital world.
Personal cyber insurance helps you recover from the financial loss of cyber extortion, cyber-attacks, online fraud and even cyber bullying. Many of our insurer partners also offer access to qualified specialists who help you resolve the issues and recover after cybercrime.
You can get a personal cyber insurance quote online here, or contact our office. Alternatively, you can visit our cyber insurance page to learn more about this coverage.
What Impacts Rates for Personal Insurance in Red Deer?
Your personal insurance rates in Red Deer are all influenced by a variety of factors, some within your control and others that are not. Here’s some insight as to what impacts your premiums for a few Red Deer personal insurance products.
Car Insurance Rates
The increasing costs of collisions have driven car insurance rates up over the last few years. Unfortunately, there’s not much you can do about that except try to avoid getting into an accident yourself. Here are some of the other factors that go into calculating Red Deer car insurance rates:
- Your personal driving history
- Your insurance and claims history
- Your vehicle’s age, make and model
- The claims history of your area
- The crime rates of your area
- Your commute length
- The frequency of natural disasters in your area
- Your coverage options
- Security systems equipped on your vehicle
Our tips to reduce your car insurance premiums are to practice safe driving, reduce your commute (or eliminate it by using public transit), drive with winter tires, and park under cover. Installing anti-theft devices can also get you a discount.
Home Insurance Rates
Your home insurance rates are determined through a variety of different factors, including:
- The frequency of natural disasters where you live
- Your area’s crime and claim rates
- How far you are from fire services
- How close your home is to risks such as bodies of water
- Your home’s age
- Your home’s construction
- Your roof’s age, construction, and condition
- Your home system’s age and type (including plumbing, heating and electrical)
- Your coverage options
- If you have damage notification or prevention devices such as smoke alarms, water alarms, sump pumps, backwater valve, and sprinkler systems
- If your home has a pool or trampoline
Discuss with your Home insurance broker in Red Deer any alterations you may have made to your home, including such things as upgrades, renovations, and the addition of any security systems or alarms.
Life Insurance Rates
How your life insurance rates are determined will depend on the type of life insurance policy you choose. Here are some factors:
- Your gender
- Your age
- If you smoke or not
- Your health
- Your family’s medical history
- Your day-to-day lifestyle
- Your driving record
- Your occupation
The Value of Having a Rogers Personal Insurance Broker in Red Deer
What is the value of having a personal insurance broker in Red Deer? Having a Rogers Insurance advisor is essential to ensure you’re properly protected. Here’s what we can do for you:
- Help you determine your personal insurance needs.
- Deliver competitive personal insurance quotes for Red Deer.
- Advise you and act as your insurance resource.
- Advocate on your behalf if you have a claim.
We’ve been trusted with personal insurance in Red Deer for decades and we’d love to help you, too. Get a personal insurance quote for Red Deer online, over the phone, or in our Red Deer office.