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The savings percentage* of 34% represents the average difference between the first rate and the second rate offered to Alberta drivers who completed an auto insurance quote on InsuranceHotline.com between January 1, 2019 and March 20, 2019.
Canadians have been trusting us to help them find lower rates on car insurance since we launched in 1994. We're proud to help our fellow Canadians out because we're drivers too and we understand how daunting the insurance process can be. This service is made by Canadians, for Canadians. Complete a car insurance quote today to find out how much you can save on car insurance in Alberta.
|Dominion of Canada||$565|
|Pembridge Insurance Company||$717|
|Royal & SunAlliance||$730|
|Intact Insurance Company (West)||$1028|
|Range of quotes $463|
|Pembridge Insurance Company||$1400|
|Dominion of Canada||$1588|
|Royal & SunAlliance||$1696|
|Range of quotes $795|
|Pembridge Insurance Company||$1632|
|Dominion of Canada||$1645|
|Royal & SunAlliance||$1915|
|Intact Insurance Company (West)||$2606|
|Range of quotes $974|
|Royal & SunAlliance||$1845|
|Intact Insurance Company (West)||$1896|
|Pembridge Insurance Company||$1903|
|Range of quotes $58|
Answers to your questions about some of the more potentially confusing elements of Alberta auto insurance
Drivers in Alberta pay the third most expensive premiums in the country. It’s estimated that the average Alberta premium comes in at about $1,179 per year. However, every driver’s situation is unique and the best way to see how much Alberta car insurance will cost you is to compare rates. Where you live, what you drive, your driving and insurance history, as well as the coverage options you choose to include on your policy all play a role in the rate you pay.
According to a report commissioned by Ontario’s Ministry of Finance and released in April 2017, Alberta drivers pay an average of $1,179 for their auto insurance coverage. This is less than what drivers in neighbouring British Columbia pay ($1,316), but more than what drivers in Saskatchewan pay ($775).
Ontario - $1,458
British Columbia - $1,316
Alberta - $1,179
Newfoundland and Labrador - $1,090
Manitoba - $1,001
Northwest Territories - $974
Nunavut - $968
Yukon - $806
Nova Scotia - $783
Saskatchewan - $775
New Brunswick - $763
Prince Edward Island - $755
Quebec - $724
There is no one Alberta auto insurance company that offers everyone the best premiums. Rates for the exact same coverage can vary substantially from one company to another. It all depends on things like the insurer’s claims experience and how they rate you as a driver.
Find the company that offers you the best rate and coverage, shop around and get quotes. This savings technique is something that you can do on an annual basis when it's time to renew your premiums.
Alberta’s standard car insurance policy has two mandatory components: third party liability and accident benefits.
Third Party Liability – Covers costs associated with lawsuits pertaining to injury, deaths, or damage to property of a third part in which you are responsible. In Alberta, the minimum required amount is $200,000; however, according to the AIRB more than 98% of drivers have at least $1 million.
Accident Benefits – Covers costs associated with rehabilitation, medical treatment and income replacement if you’re injured in an accident.
There are also optional types of coverage you can choose to add to your policy such as collision insurance and comprehensive insurance. Both of these optional coverages will cover damages to your vehicle, with collision focusing on damages caused by accidents and comprehensive covering perils such as theft, hail and vandalism. Ask your provider about other additional coverages as well.
First introduced in 2004, the Auto Insurance Grid rating program sets the maximum premium that insurer’s can charge for basic coverage (i.e. third party liability and accident benefits). According to the AIRB, about 94.5 per cent of Alberta drivers pay less than the maximum set out by the Grid program.
Where a driver lands on the Grid is determined by several factors including: years licensed, at-fault claims, tickets, years since your last at-fault collision or ticket, and driver training if a new driver. Drivers move up or down on the Grid, as their driving record changes. The lower your Grid Level the better.
*For consumers who saved on InsuranceHotline.com, the average savings from Jan-Nov 2018 was $427. The average savings amount represents the difference between the consumers' recorded current premium and the lowest premium generated by InsuranceHotline.com at the time of the quote. These savings include all quotes completed in Canada, not just Alberta.