In Alberta, the minimum requirement for insurance is $200,000 Third Party Liability and Accident Benefits. (The majority, over 85% of vehicles are insured for at least a $1,000,000 limit of third party liability.)
The Grid rating program was introduced by the Alberta Government in 2004 to set the maximum premiums for basic coverage (Third Party Liability and Accident Benefits). The majority of drivers’ premiums fall below the Grid premiums.
A grid step is a position on a scale that is a measure of licensed experience and at-fault accident claims record. Each grid step is associated with a percentage that is used in the Grid premium calculation. This could represent either a discount or surcharge applied to the grid step 0 or base premium, depending on the length of driving experience and claims history.
CLEAR stands for Canadian Loss Experience Automobile Rating. An agency called the Vehicle Information Centre (VIC) that is part of the Insurance Bureau of Canada, analyzes the number and severity of claims involving the various models of vehicles. From this analysis, they assign numerical values known as rate groups to each vehicle by coverage. This rating system is used by insurance providers as part of their calculation in determining your insurance premium, most commonly, with collision and comprehensive coverage.
Insurance companies are only allowed to charge for “moving” traffic violations; seatbelt violations are not moving violations.
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