Cheap Alberta Car Insurance Quotes

Alberta is home to two of the largest cities in Canada: Calgary and Edmonton. With high-density areas comes auto theft and vandalism, a greater chance for collisions and increased claims leading to higher insurance costs.  Recent spikes in vehicle theft, collisions and distracted driving convictions have also increased rates province-wide.

An increase in fatalities 

According to Transport Canada, in 2021, there was a slight increase in the number of fatalities, serious injuries, and total injuries, with Alberta fatalities well above the national average, as seen below:

Canada fatalities per 100,000 population = 4.7 

Alberta fatalities per 100,000 population = 6.2 

Canada fatalities per 100,000 licensed drivers = 6.5 

Alberta fatalities per 100,000 licensed drivers = 8.2 

This explains, in part, why Alberta premiums are higher than other parts of Canada.

In addition to any liability protection insurance providers must offer following a collision to cover medical expenses, they must also cover costs associated with repairing or replacing vehicles. Higher repair and replacement costs lead to more expensive premiums. This is especially expensive for newer cars which tend to have many electronic components and may be self-driving.

There is no one car insurance company that is the cheapest overall. Insurance companies assess drivers based on unique risk factors like your home address and personal claims history, which is why rates for the same coverage can vary substantially from one company to another. What is cheapest for you, might not be what’s cheapest for someone else.

To find the company that offers you the best rate and coverage, shop around and compare quotes. This savings technique is something that you should do annually whenever it's time to renew your policy.

It depends on who you ask. In many cases, having a private insurance system breeds competition and the desire of providers to attract customers with benefits and competitive pricing. 

However, inflation has taken a toll on drivers in Alberta. So much so that the government froze any new rate increases at the beginning of 2023. This has upset private insurers who say the freeze does not help that affordability and new challenges will emerge when the freeze lifts.  

Because inflation is slow to abate, and the freeze has not been in effect for that long, more time will be needed to see who benefits and if the private system is helping drivers in the near and long term.

In Alberta, rate changes are regularly approved. Compare quotes before renewing your policy to find the cheapest option.

Save in the neighbourhood of 5 to 10% by increasing your deductible from $500 to $1,000.

Pay your premiums annually, in one lump sum, to avoid administrative fees that sometimes accompany monthly payments.

Save 5 to 15% when you bundle your home and auto insurance from the same company that covers your car.

If you have more than one vehicle, save 10 to 20% by insuring them on the same policy.

Each year, review your optional coverages to ensure they are still necessary. If not, getting rid of these excess coverages will lower your premiums.

Some insurers offer discounts to members of local organisations like the Alberta Motor Association, AUPE members, or university alumni. Ask your provider about the group discounts they offer and see if you qualify.

Let your insurer know if you have winter tires, as some providers offer a winter tire discount of about 5%.

Encourage young drivers to take driver’s training. Once the course is completed, the insurance savings will offset the initial cost.

Where you live and what you drive are two important factors in what you pay for coverage. If you move or buy a new vehicle, don’t assume your current provider will continue to offer you the best price. Shop around to be sure.