Cheap Red Deer Car Insurance Quotes
Compare Red Deer car insurance rates and save thousands of dollars
Jump straight to:
- How does Red Deer auto insurance work?
- How to get the cheapest Red Deer car insurance quotes
- Mandatory and optional car insurance coverage in Red Deer
- How much does car insurance in Red Deer cost?
- Factors that influence your Red Deer auto insurance premium
- What can I do to get cheaper car insurance in Red Deer?
- Frequently asked questions about Red Deer auto insurance
How does Red Deer auto insurance work?
If you're driving between Edmonton and Alberta, you'll likely stop by Red Deer, which is about halfway between the two cities.
Drivers there have private auto insurance regulated by the Automobile Insurance Rate Board (AIRB). Its job is to approve all rating programs for insurers selling basic and additional Red Deer car insurance (and for the province). The AIRB can approve, reject, or require changes to Alberta car insurance companies' premium rating programs.
As of 2022, Alberta adopted no-fault Direct Compensation for Property Damage (DCPD). Under this system, a driver's insurance company will pay for repairs to their vehicle when a collision involving the car is not their fault.
Not-at-fault drivers can also sue for damages not covered by the at-fault driver's third-party liability coverage, pain and suffering and economic loss, for example.
The Grid system, unique to Alberta, sets a maximum price on insurance premiums for your coverage. Broadly, it uses three steps to decide your premium:
- It determines your base premium based on where you live.
- Next, it determines the premium for your mandatory coverage by years of experience and claims history.
- Your driving and insurance records are then factored in (for example, whether you've had traffic or criminal code convictions in the past three years or a trail of at-fault collisions).
A safe and experienced driver can expect to pay less than Grid rates. According to the AIRB, about 94.5% of Alberta drivers pay less than the maximum set out by the Grid program.
An Alberta insurance provider determining a car insurance premium for a driver seeking basic coverage must offer a premium reflected on the Grid if it’s cheaper than the premium they would have otherwise quoted.
Changes to Alberta's auto insurance in 2024
Auto insurance rates for 'good' drivers are currently capped in Alberta. Insurance companies can't raise premiums by more than 3.7%, the rate of inflation, for drivers who haven't had:
- An at-fault accident in the past six years
- A Criminal Code traffic conviction in the last four years
- A major traffic conviction in the last three years
- More than one minor traffic conviction in the last three years
About 80% of the population meets this criteria, the province estimates. So-called 'bad' drivers aren't protected by the rate cap.
The cap is meant to be a temporary measure as the province explores long-term reforms to improve the affordability of auto insurance.
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| Cheapest Rate | $3,177 |
| Average Rate | $8,540 |
| Savings: $5,363 (63%) | |
| Cheapest Rate | $2,019 |
| Average Rate | $4,718 |
| Savings: $2,699 (57%) | |
| Cheapest Rate | $3,191 |
| Average Rate | $5,496 |
| Savings: $2,305 (42%) | |
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Mandatory and optional car insurance coverage in Red Deer
| Insurance coverage | Mandatory or optional | Description |
|---|---|---|
| Accident benefits | Mandatory | 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) | Mandatory | 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. |
| Third-party Liability | Mandatory | 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 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 13D) | 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 35) | 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 Red Deer cost?
The average cost for Red Deer auto insurance is $1,712 per year – the lowest average premium found in the 2022 Insuramap survey and more than $200 than the average provincial premium.
More populated areas, like Edmonton and Calgary, were shown to have the highest premiums, averaging $2,230 and $2,124, respectively. Urban areas have higher incidences of car thefts and collisions, which in turn leads to higher rates.
Citizens of Red Deer pay lower car insurance in Alberta due to its size (its population is just over 103,000 while Calgary is home to 1.3 million) and its less congested roads. Your driving habits and insurance history are what matter most to insurers. Still, your premium's starting point in Red Deer will be lower than that of a driver in one of Alberta's largest cities. And it's all because Red Deer drivers still encounter fewer risks than ones in big cities.
Where you live
Some Red Deer neighbourhoods have higher risks than others. If you live in an area that suffers from crime and theft, be prepared for a higher premium than someone who lives in a less risky neighbourhood that may be more rural and “safe.”
Age and gender
Unfortunately, younger drivers are penalized for their lack of experience. Tack on gender (males are charged more) and it’s a double-whammy for young male drivers. Insurance companies label them as high-risk to insure.
The coverage you choose
You may or may not want the most coverage possible, depending on your area or driving situation. Add-ons will increase the price of Red Deer car insurance.
Policy deductibles
A deductible is the amount of money you are willing to pay before your insurance company pays its portion of protected benefits. The more you raise your deductible, the more you can save on car insurance in Red Deer.
Insurance bundling
Getting all your insurance (home and car, typically) from one provider is often known as bundling. Most insurance companies in Red Deer (and nationally) will offer discounts to people who bundle services under one provider.
Driving record
We can overstate it: the more experience you have, the better your rate. Maintaining a clean driving record throughout your driving history will positively affect your Red Deer car insurance. Alternatively, a poor driving record will harm your premium.
Vehicle
The make and model of your vehicle is another factor affecting your Red Deer auto insurance. Some cars are highly sought after by thieves and are therefore considered high risk by insurance companies. Also, high-end vehicles can cost more to repair when needed, influencing premiums.
What can I do to get cheaper car insurance in Red Deer?
For people living in Red Deer seeking cheap car insurance, the following strategies may help:
Comparison shop – Sites like RATESDOTCA will help you shop around and see which insurance companies offer the cheapest rates in Red Deer. Just a few clicks will give you real-time quotes instantly.
Maintain a clean driving record – Insurance companies reward good drivers with clean records and offer cheaper car insurance.
Bundle – Many Red Deer insurance companies will offer discounts for people who buy more than one insurance product from them.
Winter tire discount – It's Red Deer: it’s going to get snowy. Many insurance companies will provide discounts to drivers who switch to winter tires each year. It reduces risk, and your insurance provider smiles upon that.
Review your policy annually – Things change, and you may not need all the insurance services you once signed up for. An annual review will ensure you are only paying for what you need and will help save you money.
Learn what you can – Younger drivers benefit from attending a drivers-ed program. Many insurance companies in Red Deer will provide discounts upon “graduation” as the extra classes will help reduce the risks of new and inexperienced drivers. Drivers who recently had an at-fault accident might also want to look into driver's ed for insurance purposes.
Recent car insurance savings unlocked by real Red Deer drivers
Here are some recent examples of savings found by real Red Deer drivers using InsuranceHotline.com.
Savings: $102
Driver: Female, 32
From: Red Deer, AB
Driving: 2022 Cadillac CT4 4DR
Savings: $582
Driver: Male, 28
From: Red Deer, AB
Driving: 2021 Honda Civic
Savings: $1,834
Driver: Male, 40
From: Red Deer, AB
Driving: 2022 Ford F150 King Ranch Hybrid Supercrew 4WD
Savings: $40
Driver: Female, 30
From: Red Deer, AB
Driving: 2022 Nissan Kicks S 4DR 2WD
Savings: $16
Driver: Male, 42
From: Red Deer, AB
Driving: 2022 Toyota Rav 4 LE 4DR 2WD
Savings: $9
Driver: Female, 40
From: Red Deer, AB
Driving: 2021 Hyundai Sonata Luxury 1.6T 4 DR
We help Albertans an average of $727* per year on their car insurance
Compare car insurance quotes in Red Deer for lower rates
For busy families, every dollar and every minute counts. While there are many ways to save on your Red Deer auto insurance premiums, there is no more effective or faster way than by shopping around and comparing quotes. That's why families have been trusting InsuranceHotline.com to find them the lowest car insurance rates in Alberta since 1994. On average, drivers save $727* after comparing car insurance quotes with InsuranceHotline.com. All it takes is a few minutes to get your quotes from our network of over 50 trusted Canadian insurance providers.
Frequently asked questions about Red Deer auto insurance
Here's what else you should know about Red Deer car insurance
How can I find the cheapest Red Deer car insurance?
Getting the cheapest Red Deer car insurance is easy with comparison sites like RATESDOTCA. Just enter your postal code and answer some questions about your car and your insurance needs. We'll bring you quotes instantly from the top insurance providers in Red Deer and connect you to an insurance professional who can answer any questions about how to save on insurance and set you up with a policy.
Who has the best auto insurance in Red Deer?
There's no definitive answer to this question. The best auto insurance provider in Red Deer for you will depend on your driving needs and those of your household. Comparison shop on RATESDOTCA for the cheapest Red Deer car insurance prices, and talk to your provider about what services they can offer you.
Can I get car insurance in Red Deer as a newcomer?
New Canadians can get car insurance in Red Deer. You’ll need a valid driver's license, for starters. If you're licensed in your home country, you have a 90-day grace period from the time you arrive to change over your license – so you have a bit of time.
Each country’s licensing system is judged differently, so check with the Government of Alberta to understand your requirements.
After you've crossed the licensing hurdle, you can get insurance. Some Canadian insurance companies will count your driving experience from your home country. Unfortunately, not all will. You may need to build your insurance history from square one.
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