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Alberta car insurance

It’s well-known that auto insurance premiums in Ontario are the highest in Canada, and this is because of a number of factors such as the quality of roads, high claims costs, high theft rate, etc. But how does Alberta car insurance costs stack up in comparison?

Well, on average Alberta car insurance premiums are $122/month in 2017 (it was $114/month in 2015); while Ontario auto insurance premiums average at around $161/month in 2017. Albertans pay about 25% less for their car insurance than Ontario drivers.

Thus, drivers in Alberta seem to combine the best of two worlds – lower than in Ontario auto insurance premiums and variety of insurance provider choices as opposed to British Columbia, Manitoba or Saskatchewan.

Women vs. Men Drivers for Alberta Car Insurance

It is interesting to note though that women, on average, pay less for their Alberta car insurance premiums than men do – $116/month in 2017 (it was $107/month in 2015) compared to $126/month paid by men in 2017 (it was $119/month in 2015); but this practice is common in other Canadian provinces as well.

It is commonly believed that men are better drivers, but why do insurance companies disagree? Statistics show that women are more likely to be involved in smaller car accidents while men are more likely to have serious accidents (e.g. from speeding) resulting in larger insurance claims.

Cost of Alberta Car Insurance Considers Your Age

If you’re considered young in Alberta (aged 25 and under) you will pay around $187/ month in 2017 (it was $155/month in 2015) for Alberta car insurance. Your premiums will go down as you get older. For example, people aged 31-35 pay around $152/month in 2017 (it was $130/month in 2015), people aged 46-50 pay about $122/month in 2017 (it was $118/month in 2015), and people aged 56-60 pay around $100/ month in 2017 (it was $102/month in 2015).

The logic behind these premium variations is that younger drivers tend to be involved more often into accidents than more senior, experienced drivers. It is not the case for every young driver but on average the numbers show a convincing story.

Driving History Matters for Your Insurance Rates

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If you own an extravagant car in Alberta, your car insurance rates will go up. Drivers who own cars valued between $40,000 – $80,000 pay around $170/month for their insurance premiums in 2017 (it was around $160/month in 2015).

If you choose to buy a more modest car that is valued between $10,000 and $20,000, you can expect your Alberta car insurance premium to be around $123/month in 2017 (it was $115/month in 2015). That would mean you would either drive an older model of a luxury brand, or new brands of compact cars such as Mazda, Ford, Kia, etc.

If you really want to lower your Alberta car insurance premiums then your best bet would be to drive a car valued between $5,000 and $10,000. This way you would only have to pay around $108/month in 2017 for your vehicle insurance (it was $100/month in 2015).

Cost of AB Car Insurance Considers Your Driving History

The rate of your Alberta car insurance you will have to pay is strongly based on your driving history, similar to auto insurance rates in other provinces.

A clean driving record can lower your average Alberta car insurance premium to around $110/month in 2017 (it was $109/month in 2015). However, if you have had two violations in the last three years, you will be looking at an increase up to $141/month in 2017 (it was $130/month in 2015).

High risk drivers in Alberta have to dig even deeper into their pockets for their Alberta car insurance premiums. It will cost them an average of about $295/month in 2017 which is more than double of what a driver with a clean driving record would pay in Alberta. If you need a high-risk auto insurance, take a few minutes of your time and get a quote to see if you qualify for better rates.

These insurance insights are provided by InsurEye, a consumer-focused insurance website that offers car insurance quotes in Alberta, auto insurance premium benchmarks and car insurance reviews.