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Why are our auto insurance rates so high?

  • Feb 6, 2025
  • 1 min read



Did you know that we’ve noticed an increasing number of claims involving unlisted drivers who should have been listed on the policy?

As a reminder, we require the following individuals to be listed on Personal Auto policies:

  • Any household member of minimum licensing age who lives in the named insured’s home, even if they do not drive the vehicles.

  • Any person (relative or non-relative) who regularly operates a vehicle listed on the policy, even if occasionally. You can prove they have their own insurance, but they should not be driving your vehicle on a regular basis.

  • Any person who is a titled owner for a listed vehicle unless they are not a household member or frequent operator (Note: Titled owner should not be listed as an excluded driver if they are not a household member or frequent operator.)

  • Named insured’s spouse, unless legally separated/divorced and living in a different household. This means licensed or not. Spouse should be listed.

  • Students who have regular access to vehicle(s) OR live at home during extended breaks, between semesters, on holidays, or during summer.

There is an endorsement on Personal Auto policies that will affect Collision coverage when an unlisted member of the household is driving the insured vehicle. Collision coverage could be excluded if the driver, at the time of the loss, is considered a resident (permanent or temporary) of the insured’s household. The exclusion applies regardless of intent and applies to all policy terms if the policy as part of that endorsement.

Please keep in mind that driver exclusions are also an option in most situations.

We recommend you contact your insurance agent to discuss coverages.


 
 
 

4 Comments


Eron Finch
Eron Finch
3 days ago

Insurance rates continue to rise due to factors like increasing repair costs, inflation, higher claim frequencies, and the growing expense of vehicle technology. It's an important topic because these changes directly affect household budgets and long-term financial planning.

Businesses in competitive industries also face similar challenges when trying to stand out and attract customers. Working with a digital marketing agency in ireland can help companies improve their online visibility, reach the right audience, and achieve sustainable growth in an increasingly competitive market.

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eskill 306
eskill 306
Jun 30

Rising auto insurance costs usually come down to a mix of higher repair expenses, more advanced vehicle tech, and increased claim payouts. Even small accidents now cost more to fix, which pushes premiums up across the board.

For broader coverage on financial and everyday topics, the irish insider offers useful insights into current trends and issues affecting consumers.

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Jasper Giles
Jasper Giles
Feb 11, 2025

Thanks for sharing! For cheapest insurance in Calgary, this resource is a lifesaver.

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