Alberta Auto Insurance

Auto insurance rates are rising in Alberta. In 2018, Alberta auto insurance experienced an upward trend of 5.1% when compared to a year ago. However, these are figures; the actual amount you pay in auto insurance premium in Alberta will vary depending on several factors such as your driving record, age, experience, type of vehicle and so forth. You can also shop around and compare policies to get cheaper and more affordable coverage.

To learn more about Alberta auto insurance, click here.

Alberta drivers are required to have $200,000 in third-party liability insurance coverage on their vehicle. You will not be able to register your vehicle without the minimum coverage.

Alberta is the third most expensive province in Canada by auto insurance, after British Columbia and Ontario. In 2017, an average driver in the province paid $1,179 a year in auto insurance rate. However, this is not a hard and fast rule. You can only be sure of the amount you will pay by comparing insurance rates. Several factors such as your driving record, age, gender and other factors listed above all determine the amount you pay in auto insurance in Alberta.

A report from the Ontario Ministry of Finance in 2017 indicated that Alberta is the third most expensive province in Canada by auto insurance with an average rate of $1,179, while Ontario takes the lead with $1,458, followed by British Columbia $1,316.

However, Alberta auto insurance rate has since increased to $1,251, while Ontario decreased to $1,445 and British Columbia increased to $1,680.

No single auto insurance company in Alberta offers the best rate. Even for the same coverage, the rate can vary across auto insurance companies. This depends on the company’s claims experience and how they rate you. However, you have an option to shop around every year to choose the best auto insurance rate for your coverage.

There are two basic components in your Alberta auto insurance policy: third party liability and accident benefits. You can also add optional coverage such as comprehensive insurance and collision insurance.