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All large cities have high insurance rates, and Alberta is home to two of the largest cities in Canada. The high premiums faced by drivers in Calgary and Edmonton drive up the provincial average. Recent spikes in vehicle theft, collisions and distracted driving convictions have also led to an increase in rates province wide.
Serious collisions in Alberta
According to the most recent study by the Government of Alberta, in 2018, following too closely and running off the road are the most frequent driver actions that cause fatalities in the province. This tragically translates to fatal collisions in Alberta being significantly higher than the national average.
Canada fatalities per 100,000 population = 5.2
Alberta fatalities per 100,000 population = 6.8
Canada fatalities per 100,000 licensed drivers = 7.2
Alberta fatalities per 100,000 licensed drivers = 9.0
This explains part of the reason Alberta premiums are higher than other parts of Canada.
Data source: Government of Canada - Canadian Motor Vehicle Traffic Collision Statistics.
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. This is especially expensive for newer cars which tend to have many electronic components and/or may be self-driving. Higher repair and replacement costs lead to more expensive premiums.
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.
Some provinces have a government-owned public auto insurance system. Alberta on the other hand, has a private auto insurance system. Proponents claim that this benefits drivers because market competition forces providers to compete on price, ultimately lowering premiums. In support of this argument, Alberta’s competitive auto industry has consistently been able to offer cheaper rates than publicly operated B.C.
However, things could soon change. Alberta’s previous government imposed a cap which limited auto insurance rate increases to a maximum of 5%. In 2019, the new Conservative provincial government decided not to renew this cap, meaning we can expect large rate increases in Alberta in 2020.
As of January 2022, Alberta put in place a Direct Compensation Property Damage (DCPD) system which means that following a collision each driver’s insurance provider pays out any compensation to their own client. The Insurance Bureau of Canada anticipated that for most Alberta drivers, DCPD would either reduce their premiums or they would see no change at all.
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*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 shoppers’ average lowest quoted premium and the average of all other quoted premiums generated by InsuranceHotline.com.
Insurance rates are going up in Alberta, but there’s a lot you can do to ensure that you’re getting the best price.
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.
Savings: $516
Driver: Male, 35
From: Edmonton, Alberta
Driving: 2014 Ford Fusion
Savings: $567
Driver: Male, 29
From: Edmonton, Alberta
Driving: 2017 Hyundai Tucson
Savings: $325
Driver: Male, 42
From: Edmonton, Alberta
Driving: 2013 Ford Escape
Savings: $504
Driver: Male, 40
From: Edmonton, Alberta
Driving: 2015 RAM 1500
Savings: $550
Driver: Female, 38
From: Edmonton, Alberta
Driving: 2016 Audi TT
Savings: $419
Driver: Female, 31
From: Edmonton, Alberta
Driving: 2010 Honda Civic
Alberta is responsible for a third of all stolen vehicles in Canada, despite being home to only 10% of the population. Every year, the Insurance Bureau of Canada release a list of the most frequently stolen vehicles in each province. If the vehicle you own appears on this list, you may find your premiums have gone up.
Rank | Model |
---|---|
1 | 2007 FORD F350 SD 4WD |
2 | 2006 FORD F350 SD 4WD |
3 | 2006 FORD F250 SD 4WD |
4 | 2004 FORD F250 SD 4WD |
5 | 2005 FORD F350 SD 4WD |
6 | 2005 FORD F250 SD 4WD |
7 | 2000 HONDA CIVIC Si 2DR COUPE |
8 | 1999 HONDA CIVIC 2DR HATCHBACK |
9 | 2004 FORD F350 SD 4WD |
10 | 2007 FORD F250 SD 4WD |
Data source: Insurance Bureau of Canada – Top 10 Stolen Vehicles
Auto insurance rates are rising in Alberta. The real problems began in 2012, when smartphones became widespread and drivers started using them behind the wheel. Collisions resulting from this dangerous behaviour led to a surge in claims, causing premiums to rise.
Year | Average accident benefit claim payouts | Average total injury claim payouts |
---|---|---|
2013 | $3,652.00 | $32,192.00 |
2014 | $3,639.00 | $34,873.00 |
2015 | $4,485.00 | $40,795.00 |
2016 | $4,677.00 | $44,848.00 |
2017 | $5,200.00 | $44,373.00 |
2018 | $5,764.00 | $46,082.00 |
Data source: IBC – Comparison of auto insurance in BC and Alberta, 2020
Alberta’s insurance rates had been declining up until 2012, but insurers responded to this new threat by upping premiums. You can see the impact by comparing changes to the average provincial premium over the last 10 years.
The most recent complete data goes up to the end of 2019, but premiums continued to increase through 2019 and further rate increases are expected in 2020.
Year | Average annual premium | Average monthly premium | Year over year change |
---|---|---|---|
2009 | $1,095.00 | $91.25 | 3.60% |
2010 | $1,081.00 | $90.08 | -1.28% |
2011 | $1,070.00 | $89.17 | -1.02% |
2012 | $1,087.00 | $90.58 | 1.59% |
2013 | $1,113.00 | $92.75 | 2.39% |
2014 | $1,153.00 | $96.08 | 5.59% |
2015 | $1,179.00 | $98.25 | 2.25% |
2016 | $1,206.00 | $100.50 | 2.29% |
2017 | $1,251.00 | $104.25 | 3.73% |
2018 | $1,316.00 | $109.67 | 5.20% |
2019 | $1,406.00 | $117.16 | 6.83% |
Data source: Insurance Bureau of Canada
Car insurance rates are going up in Alberta, and if you renew your policy with the same provider you will almost certainly have to pay more than you did last year. The only way to buck this trend is to shop around for a better rate.
InsuranceHotline.com works with over 30 insurance providers. We aggregate their rates and give you multiple quotes side by side so you can choose the policy that’s best for you. If you like what you see, we’ll connect you to a licensed broker to secure the policy.
Last year, Alberta drivers who used InsuranceHotline.com saved an average of $410 on their car insurance. Find out how much you could save today.