Welcome to the final part of our series on auto insurance riders covering two of the most dynamic records for most drivers. Today we cover two "CFS" or amendments that protect the policyholder against future loss collision:
SEF 39 - Accident Waiver Note - This rider, becoming very common in Alberta both personal and commercial small (sometimes called IRCA) car insurance policies, is to protect the insured against rate increases following a collision at fault. This can save thousands of dollars in increased premiums, as well as give peace of mind when driving on the road. To ensure the risk is reasonable, not all drivers are qualified to have this rider added to their policy. Not available for drivers who have poor or minimal driving history, or who have had a recent accident responsible, usually in the last 3 years. If a half-decent record behavior has been established, then at the discretion of the policyholder, the SEF 39 can be added on. Note that this must be added on a vehicle, so double check to ensure that each insured vehicle has listed this amendment
SEF 44 -. Rider Family protection - This rider, found on almost all car insurance policies in Alberta, is essential to ensure that the driver and passengers involved in a non fault accident are protected against severe income loss in due to injury or death, regardless of insurance status of the party at fault. This rider, often called "Uninsured / Underinsured Motorist" in many other countries, will, in the case where the driver or passengers of the insured vehicle are injured / killed by a driver without insurance or with inadequate liability limits, provide further recovery for damage following injury. These damages are to be awarded in a judgment of the civil court, and the policyholder must prove they can not win this award the party at fault. the limit on SEF 44 is the limit of liability of the insured, which is now often $ 2,000,000. this is an essential safety net for policyholders and their families in case of serious loss, which is far the most important support to have on your auto insurance policy.
thank you for reading our series on Auto endorsements, we've covered a number of those most common in Alberta . Of course, there are dozens of others that we do not cover, so if you have any questions about them or about any type of insurance, please do not hesitate to contact our #expertbrokers
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