Cheap Medicine Hat Car Insurance Quotes
Compare Alberta car insurance quotes on InsuranceHotline.com and save an average of $727.*
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- How does Medicine Hat auto insurance work
- How to get the cheapest Medicine Hat car insurance quotes
- Recent Medicine Hat car insurance quotes
- Mandatory & optional car insurance coverage in Medicine Hat
- How much does car insurance in Medicine Hat cost?
- Medicine Hat car insurance rates by postal code
- Factors that influence your Medicine Hat auto insurance premium
- What can I do to get cheaper car insurance in Medicine Hat?
- Frequently asked questions about Medicine Hat auto insurance
How does Medicine Hat auto insurance work
Medicine Hat, in southwest Alberta, has about 66,000 people in it and is known for its landscapes and abundant sunshine.
Much like the rest of Alberta, drivers in Medicine Hat are required to obtain car insurance in order to operate a vehicle. The system is a private insurance structure where you can purchase Medicine Hat car insurance from a broker, agent or directly from an insurance provider.
The AIRB (Alberta Automobile Insurance Rate Board) regulates the amount of money private companies can charge for basic coverage (PLPD and accident benefits). They release the approved rate changes every three months.
A grid rating program was developed to establish the maximum rate insurance companies can charge for basic coverage (third-party liability and accident benefits). Insurance companies must compare a driver’s rate under their current rating program to a driver’s rate calculated for the grid and charge the lesser of the two rates. The Automobile Insurance Rate Board says that over 90 per cent of Alberta drivers do not pay grid rates.
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Recent Medicine Hat car insurance quotes
| Cheapest Rate | $1,692 |
| Average Rate | $2,304 |
| Savings: $612 (27%) | |
| Cheapest Rate | $1,916 |
| Average Rate | $2,692 |
| Savings: $776 (29%) | |
| Cheapest Rate | $1,817 |
| Average Rate | $2,506 |
| Savings: $689 (27%) | |
Mandatory & optional car insurance coverage in Medicine Hat
| Insurance Type | Mandatory Coverage | Additional/Optional Coverage |
|---|---|---|
| Accident Benefits | Sometimes called no-fault benefits or Section B benefits, this covers costs associated with income replacement up to 80% of weekly earnings (max. $400 per week) for up to two years; medical treatment up to $50,000 per person per accident; funeral expenses of up to $5,000 per person; death benefits of $10,000 for head of household plus $2,000 to each dependent, $15,000 for first survivor and $4,000 for each additional survivor; $10,000 for the death of the spouse of the head of the household. | |
| Direct Compensation for Property Damage (DCPD) | This coverage, introduced in Alberta at the beginning of 2022, means that the driver’s own insurance company compensates the driver for damages following a collision for which the driver is not at fault. Alberta’s previous system, which was tort-based, required that drivers who were not at-fault to seek compensation from the other driver’s insurance company. This approach tends to be time-consuming and costly. | |
| Personal Liability and Property Coverage (PLPD) | Also known as third-party liability, this covers costs associated with lawsuits pertaining to injury, deaths, or damage to property of a third party in which you are responsible. The mandatory minimum policy limit for PLPD is $200,000. According to AIRB, over 98% of Alberta’s drivers opt for additional liability coverage. | The most common coverage limits are $500,000, $1 million and $2 million. |
| Collision Coverage | Optional | Covers car replacement or repair costs if your car is damaged in a collision and the policyholder is at fault. |
| Specified perils | Optional | Covers damage from perils specifically named in the Alberta auto insurance policy, such as attempted theft, damage in transport, earthquake, explosions, fire, lightning, riots or windstorm. |
| All-perils | Optional | Covers many perils, broadly, has similarities to collision and comprehensive coverage. |
| Accident-rating Waiver (SEF 39) | Optional | Prevents an Alberta car insurance premium from going up following a collision in which the policyholder is at fault. |
| Family Protection (SEF 44) | Optional | Protects drivers in a collision with an underinsured or uninsured driver. Will cover the difference if costs exceed the other driver’s insurance benefit. |
| Legal Liability for Damage to non-owned Automobiles (SEF 27) | Optional | Extends physical damage coverage to include rental cars. Drivers with this endorsement on their policies don’t need to purchase additional coverage when they rent a car. |
| Limited Glass (SEF 13 D) | Optional | Reduces the amount of coverage for glass damage in exchange for a lower premium. |
| Limited Waiver of Depreciation (SEF 43R) | Optional | Waives depreciation on the repair or replacement of a new vehicle following damage from a covered peril. Is usually applicable to vehicles that are less than two years old. |
| Loss of Use (SEF 20) | Optional | Compensation for transportation costs up to a limit when a vehicle is damaged due to a covered peril. |
| Towing and Emergency Services (SEF 25) | Optional | Coverage for towing and other emergency service costs when a vehicle is disabled, and the driver doesn’t have roadside assistance. |
How much does car insurance in Medicine Hat cost?
The average Medicine Hat car insurance rate is $1,722 per year, which is a little more than $200 below the provincial average of $1,991. When compared to other cities in Alberta, Medicine Hat has the third lowest car insurance premium, far behind Calgary ($2,230), Edmonton ($2,124), Airdrie ($2,000) and other cities. The car insurance premium of drivers in Medicine Hat is only slightly higher than those in Red Deer ($1,712) and Sylvan Lake ($1,712).
| Rank | City | 2021 premium |
|---|---|---|
| 13 | MEDICINE HAT | $1,722 |
| 1 | CALGARY | $2,230 |
| 2 | EDMONTON | $2,124 |
| 3 | AIRDRIE | $2,000 |
| 3 | CHESTERMERE | $2,000 |
| 4 | BLACKFALDS | $1,969 |
| 5 | ST. ALBERT | $1,940 |
| 6 | ALCOMDALE | $1,849 |
| 7 | SHERWOOD PARK | $1,832 |
| 8 | FORT MCMURRAY | $1,806 |
| 9 | LETHBRIDGE | $1,780 |
| 10 | LACOMBE | $1,767 |
Age
New drivers, especially those under 25, will find their Medicine Hat car insurance premiums are high. As you age and gain experience, rates will start to decline. By the time you are 50, rates will come down again.
The vehicle you drive
Different cars come with different expenses. Base models are cheaper to maintain and may have a lower theft rate than cars that are expensive. Also, luxury cars often come with higher maintenance and repair costs.
Where you live
Location, location, location matters when looking for Medicine Hat car insurance. Neighbourhoods with higher claims could affect your rates, as can high crime areas and congestion.
Your driving record
The safer and cleaner your driving record, the more you can save on Medicine Hat auto insurance quotes. Speeding, driving under the influence, and driving without a licence, can all increase premiums (or worse, have your licence revoked in some cases).
Your insurance history
Medicine Hat auto insurance companies are looking to reduce their risk. A driving history with no claims and a safe record can help reduce rates, as you will be considered a lower risk than someone with a history of insurance claims.
Also, failure to pay premiums on time will hurt your credibility and could affect the rates you pay. Failure to pay premiums could lead to a total policy cancellation.
The coverage options you choose to include in your policy
In Alberta, certain forms of insurance coverage are mandatory, and some are additional or optional. The more optional coverage you tack onto your policy, the more you will likely pay for Medicine Hat auto insurance. It’s wise to talk to your agent or broker about the specific insurance coverage you need in order to reduce “over insuring” and keeping costs down.
Your policy's deductibles
Deductibles are the amount you pay in the event of a collision or repair before your insurance provider’s benefits kick in. Taking on a higher deductible will reduce costs because you are lowering the risk for your provider.
Having a low deductible means higher Medicine Hat auto insurance rates because your provider is taking on the risk of paying more benefits upfront.
If you’re bundling with other insurance products, such as home insurance
Bundling is a way for insurance providers to get more of your business by selling insurance packages (life, home and auto) in one product. Committing to more services under one package usually comes with a discount compared to pricing the products individually.
Gender and marital status
Medicine Hat car insurance companies look at your gender and marital status when determining rates. Single men are considered higher risk than married men. Also, women are viewed as lower risk drivers than men by most insurance companies.
The company’s own insurance claims history
Capital is king. And so, insurance companies need to ensure that they have enough money in their accounts to pay potential benefits to customers. More claims and payouts could mean higher rates in order to balance their cash flow.
What can I do to get cheaper car insurance in Medicine Hat?
- Shop around: Comparison shopping is a great way to get cheaper car insurance in Medicine Hat. Sites like InsuranceHotline.com can provide up-to-date rates from the top providers in the area. You can also talk to a broker to compare rates and see what works best for you.
- Increase your deductible: Paying a higher deductible reduces costs for your insurance provider and ultimately helps you save on auto insurance rates. You could save from five to 10% on annual premiums.
- Pay your premiums annually: Upfront payments can save you money. Monthly payments generally have administrative fees attached to them. Paying in full once a year can help you avoid those costs.
- Multi-line discount: Bundling other services such as home and life insurance with your auto insurance can help you save five to 15%.
- Insure all vehicles together: Adding vehicles to your policy can help reduce costs on those additional policies. Insurance providers may offer discounts of between 10 to 20% by having all vehicles insured together.
- Winter tire discount: Winter tires add an additional safety feature to your car and help reduce risks in tough winter driving. Many insurance providers will offer a discount of up to five percent for that added protection.
- Review your policy annually: Looking at your policy each year allows you to assess or reassess your insurance needs. It’s a good time to renegotiate your terms and see if there are ways to reduce coverage and save money.
- Telematics: Install a telematics device in your vehicle to save money with good driving habits. Ask your insurer for more information.
- Ask about discounts: Drivers belonging to alumni or other associations can receive discounts on their insurance. Ask your provider for information on their discount programs.
- Driver’s education: New or inexperienced drivers can benefit from driver’s education in two ways. You will be provided with skills and tools for safe driving, and your insurance provider may offer discounts reflective of your lowered risk factor.
Compare quotes and save on Medicine Hat auto insurance
You know that feeling when you find out you’re getting a really good deal? Maybe it’s bold for us to say, but, we think you’ll be feeling it in about five to 10 minutes. How can we be so sure?
Get a quote that will help you save hundreds of dollars on insurance annually.
*Shoppers in Alberta who obtained a quote on InsuranceHotline.com from January to December 2021 saved an average of $727 per year. The average savings represents the difference between the shoppers’ average lowest quoted premium and the average of all other quoted premiums generated by InsuranceHotline.com.
Frequently asked questions about Medicine Hat auto insurance
Find answers to all your questions about Medicine Hat car insurance.
How can I find the cheapest Medicine Hat car insurance?
To find the cheapest Medicine Hat car insurance start comparison shopping on sites like InsuranceHotline.com. A few clicks and you’ll get current insurance rate quotes from the top providers in Medicine Hat.
You can also try talking to a broker who will do the leg work for you and provide you with multiple quotes from providers.
Who has the best auto insurance in Medicine Hat?
Auto insurance is different for everyone. Whether you are an occasional driver, experienced driver, have multiple vehicles or simply want the most basic coverage, finding the best auto insurance will start with knowing what you need or want.
Then visit InsuranceHotline.com to see which providers can meet those challenges and offer the cheapest rates
Can I get car insurance in Medicine Hat as a newcomer?
In most cases you will need a Claims Experience Letter and a Driver’s Abstract from a previous insurance provider and previous licencing authority. However different companies have different rules, and it is advisable to talk to a broker who can advise you on the proper documentation.