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The new school year is upon us, and if you have teenagers in the house, this fall they might be driving themselves back to school. Having a new driver in the family brings lots of challenges, not least of which is figuring out how it will affect your car insurance. To help you sort it all out, we walk you through the basics of purchasing auto insurance for teenager drivers in the Edmonton area and let you know how insurance works when you’re sharing a car as a family.

Car insurance for teens: what you should know

When your teenagers get their licenses and begin driving your family car, you must take steps to add them to your insurance policy. Since teens are inexperienced drivers and thus considered more likely to get into accidents, this means that your insurance rates will usually go up. Nevertheless, it’s important to make sure you add your kids to your insurance as secondary drivers right away. If you don’t, you’re not only violating your insurance agreement, but you also won’t be able to receive coverage for injuries and property damage should your teen end up getting into an accident.

Tips for saving money on car insurance as a family

Even though adding new drivers to your insurance policies can make your premiums go up, there are ways to reduce your car insurance rates. For instance, your insurance provider may lower your premiums if your teenager has taken lessons at a driving school recognized by your insurance company. Having teenagers drive newer, safer cars will also lower your insurance rates as accidents will be less likely to occur. Plus, the longer a teenager drives with insurance without getting into accidents or other trouble on the road, the better the insurance rates they’ll be able to get down the line.

Teach your kids about the importance of car insurance

Becoming a new driver is an exciting stage in a young person’s life, but it comes with adult responsibilities. One of these new responsibilities is making sure your vehicle is adequately insured at all times. If you’re the parent of one or more teen drivers, explain to your kids how auto insurance works in case of an accident and the reasons why there are serious consequences for breaking the law by driving without insurance.

Call Us to Discuss Car Insurance Options for the Entire Family

At MBS Insurance Brokers, we want to make sure teenagers get the driving experience and car insurance coverage they need to be skilled and responsible drivers. We’ll help your family get the best auto insurance policies at the best prices so you can all breathe easily when driving around Edmonton. Contact us today to make an appointment or request a free quote.

How an Insurance Broker Saves You Time and Money

Do you know the benefits of an insurance broker?

Suppose you’re looking for the best insurance coverage at the best rates in Edmonton. In that case, you’ll first want to understand the benefits of an insurance broker and how they can help protect you in all sorts of different situations – whether it be saving you money, time or giving you simple peace of mind.

What Are the Benefits of an Insurance Broker?

Here are some of the many benefits of an insurance broker.

 

1. Saves Time

An insurance broker does all the work for you, so you don’t have to spend your valuable time shopping around for insurance. Instead, you simply provide your broker with information about your needs, and they shop the markets on your behalf.

 

2. Saves Money

Insurance brokers work with many different partners to find the best deals on the insurance that works for you. They take all your needs into account and make recommendations that are in your best interest. They have relationships with many insurance partners and can negotiate competitive rates and discounts, saving you money in the long run.

3. Expert Knowledge and Advice

An insurance broker provides you with the support and expertise you need to find coverage that suits your needs. They work with various products and services to find the coverage that best suits you. In addition, they can draw from an extensive knowledge base and experience to advise you on the best options. 

Insurance Brokers provide expert and unbiased advice. A wealth of knowledge about coverage and market rates combined with expert risk assessment ensures your possessions and business are adequately protected. Whether you are looking into auto insurance rates, tenant insurance, or home insurance rates, your insurance broker can help you every step of the way.

You can utilize their expertise to quickly identify your options and rely on their unbiased advice to help you make the best-informed decision for your situation.

 

4. Working For Your Best Interests

Since insurance brokers do not work with one particular company, they have nothing to gain from recommending a specific product. The insurance company also pays them a standard commission. Thus, there is no financial incentive to choose one insurer over another.

Insurance brokers have your best interests in mind. You can count on them to find you the best rate possible, which can give you the peace of mind you need. You can rest assured knowing that if you ever need to file a claim, one of our brokers will be there by your side to guide you every step of the way. They act as an advisor on insurance-related matters. They will shop the market for the best coverage and rates for you. Since fulfilling your needs is their only priority, they will provide independent, unbiased advice on the right coverage for your situation.

5. Privileged access and rates

Insurance Brokers have access to a wide selection of the best insurance companies in the country. These insurance companies are only accessible by Insurance Brokers. They do not deal with the public directly or with Direct Writers. Brokers enjoy long-standing relationships with these insurance companies. Still, they do not have an affiliation with any specific insurer, enabling brokers to provide you with a broader range of options at competitive rates.

 

6. Transparency

Insurance brokers must give full disclosure about their compensation and its effect on your insurance premium.  They are also required to declare any financial links with specific companies that may be a conflict of interest, enabling you to make the best-informed decision.

 

7. Risk and Advocacy Experience

Extensive experience dealing with different clients and claim situations equips insurance brokers with a broader perspective on how to reduce your risk. Also, in the event of a claim, you can count on your broker to act as your advocate with the insurance company and handle your claim fairly and promptly.

Speak to MBS Insurance in Edmonton about your Coverage

Reach out to MBS Insurance today to determine your home, auto, and commercial coverage options. Over the past 45 years, our experienced team of insurance brokers in Edmonton has earned the trust and loyalty of our clients by delivering superior products and services. We understand your needs and provide you with the best protection and rates.

There are many benefits of an insurance broker. We can help you understand the intricacies of your insurance plan while saving you money at the same time. We are a trusted insurance provider in Edmonton and provide personal and commercial insurance policies to people living in Alberta. We offer the best rates on recreational, auto, property, commercial, and group insurance policies. 

Contact us online for a free quote or by phone at 780-436-7880.

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This article was originally published on October 7, 2016, and updated for 2021.