Compare cheap car insurance quotes in Alberta

In 2024, the AIRB released their Customer Perspectives on Automobile Insurance Report, outlining the results of a survey they conducted on all things Alberta auto insurance. 

When presented with the statement, "Automobile insurance rates are fair and reasonable," over 50% of participants claimed to be in low agreement. This shouldn't come as a surprise as Albertans pay some of the highest rates across the country – but notably, the number of respondents that strongly agreed was 10% higher than that of the previous year.

The survey also looked at whether Albertans have experienced an unexpected rate increase within the last two years, despite being free of convictions and claims – 55% of respondents indicated so in 2024 which was quite comparative to 2023 (59%) and 2022 (60%) data. When asked about shopping the Alberta market, only about half of the respondents (53%) claimed to have done within the last two years, seeking competitive quotes for a cheaper rate.

That means many Albertans are missing out on potential savings. Shopping around for car insurance and comparing quotes online is one of the best ways to ensure you're getting the lowest rate possible for all the coverage you need. So what are you waiting for? Start saving with Ratehub.ca today.

Like the rest of Canada, car insurance is mandatory across the province of Alberta – you're legally required to insure your vehicle before taking it out on the roads. Auto insurance in Alberta is purchased through private carrier marketplace. These companies receive regulation for their rates through the government's Automobile Insurance Rate Board (AIRB).

Albertans currently pay the highest rates for auto insurance in Canada and is set to increase at a higher rate over the next two years, but over the past few years the government has worked to implement a number of measures to help reform the system in order to reduce rates. This has included rate caps for 'Good Drivers' and a push towards a more traditional no-fault system - moving away from the hybrid tort system that had currently been in place.

In January 2022, the provincial government enabled legislation changes, requiring drivers to carry Direct Compensation for Property Damage (DCPD) insurance. This type of coverage is part of a no-fault auto insurance system – drivers only deal with their own insurer when making a property damage claim after a collision, regardless of fault. The idea behind this system is that the claims process will be expedited and drivers will receive their funds earlier. It lowers the related costs that come with recovering compensation from a third party.

In addition to these changes, the government plans to introducing a new ‘Care-First’ system for 2027, focused on introducing a more traditional no-fault auto insurance system, decreasing time to claim payouts and increasing compensation benefits for accident related claims. Similar to how no-fault Ontario car insurance works, insured drivers injured in a collision will now deal directly with their insurance company for any accident benefits related claims, instead of having to sue for coverage. 

The province also operates with an auto insurance grid rate calculator. This determines the maximum rate an insurer can offer (for basic coverages) based on a driver's risk profile. The higher you sit on the grid, the more you'll be paying – but still, most drivers won't pay their exact grid premium as it is more of a cap for insurers to price their premiums accordingly.

If you're looking to learn more about auto insurance in Alberta, we can help. Read on to make sure you understand everything there is to know about the coverage you need. 

When it comes to your car insurance premium, location plays a big role in the price you'll be paying. According to 2021 data from the AIRB, here's the average cost of auto insurance, segmented by region in Alberta.

While market factors play a big role in the cost of your auto insurance, there are still many steps you can take to ensure you're getting the best rate possible. Here, we cover eight different tips for cheap auto insurance in Alberta. 

There are many individualized factors auto insurance companies look at, in order to determine your personalized quote. Generally speaking, the more risk you bring, the more expensive your policy will be – here are a few factors you should be aware of.

Auto insurance in Alberta is issued by private companies, creating a competitive market for its consumers. This means insurers can compete for your business based on the price and services they offer – there isn't one single company that dictates how much premiums cost.

According to the 2024 Market Report from the Alberta Auto Insurance Rate Board, there are a total of 26 companies writing insurance for private passenger vehicles. In the table below, you'll find the top private passenger vehicle insurers in Alberta from 2023, as well as their percentage of market share.

Keep in mind that the most popular insurer won't necessarily be the best one for you. You'll want to choose the company that offers all the coverage options you need for the lowest rate possible – be sure to compare car insurance quotes with us today to find your best option.