Compare Edmonton Car Insurance Quotes
Get personalized car insurance quotes from Canada's top personal insurers in under 5 minutes, for free.
How car insurance in Edmonton works
Matt Hands, Business Director, Insurance
Edmonton is the capital of Alberta and the 2nd largest city in the province. Due to its recent population surge, the roadways are getting busier causing more congestion.
The average annual car insurance premium in Edmonton is just shy of $1,500, but with the recent removal of 5% cap increases in Alberta, rates are beginning to soar making it a great time to shop around for car insurance quotes.
Whether you’re driving on 101 Street or the Capilano bridge, rush hour traffic and heavy road construction can lead to difficult commutes which creates the potential for more collisions. At Ratehub.ca, we help the people of Edmonton shop for the best car insurance rates in just minutes to suit their budget and preferences.
Edmonton operates in a hybrid system between tort and no-fault insurance. No-fault means drivers use their own insurance company regardless of who is at-fault in an accident. A tort-based system allows you to pursue the other driver for damages.
Alberta auto insurance is provided by private insurance companies and is regulated by the Auto Insurance Rate Board (AIRB). AIRB ensures rate increases are substantiated. Simply put, an insurer can't raise rates without prior approval from the regulatory body and is based on their financial records.
Available Edmonton car insurance coverage is broken down into two categories - mandatory and optional.
Mandatory Edmonton auto insurance coverage includes:
- Third-party liability
- Accident benefits
- Direct Compensation Property Damage (DCPD)
Optional Edmonton car insurance coverage includes:
- Collision insurance
- Comprehensive car insurance
- Specified perils
- All perils
There are also optional Standard Endorsement Forms (SEF) which are endorsements you can add to your coverage. Here are 4 common Edmonton auto endorsements.
- SEF 101 - covers the cost of a rental vehicle while yours is being repaired or replaced
- SEF 27 - Ports your existing insurance to a rental car or car you borrow
- SEF 39 - Accident forgiveness - insurance won't go up after your first at-fault claim
- SEF 43R - Removes depreciation in calculating the value of your car when settling a claim
How to get a Edmonton car insurance quote in under 5 minutes
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Step 2: Compare the rates
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Step 3: Save money
Choose your quote and secure your new rate online or via one of our licensed agents
Mandatory coverage for auto insurance in Edmonton
Mandatory insurance is mostly about protecting you from damage you may cause to others and their property. Protecting you personal car is available with optional coverages.
Third-party liability
Accident benefits
Uninsured motorist (MVAC)
DCPD
Compare Edmonton insurance quotes and uncover the savings
Optional coverage for auto insurance in Edmonton
The below coverages are optional, unless you lease your car and your lessor requires them. Typically, new cars will get the optional coverages.
Collision insurance
Comprehensive
Emergency roadside assistance
Specified perils
All perils
How much is car insurance in Edmonton?
The average cost of car insurance in Edmonton is roughly $1,500 per year, or about $125 per month. But rates are rising. Could you be paying less? Let's find out.
Factors that impact your Edmonton car insurance rates
It pays to shop around to find cheap car insurance in Edmonton. Even though an insurance application is fairly standard you will find that different insurance companies offer different rates based on their existing users, the number of active claims on their fiscal books, and overall risk tolerance calculations. Furthermore, there are several factors beyond your control that impact a risk tolerance calculation, like if you live in an area with higher than average levels of insurance fraud. Here are seven factors auto insurance companies consider before offering personal car insurance in Edmonton:
Driver demographics
Where you live
Vehicle type
Driving history
Driving activity
Type of insurance coverage
Applicable discounts
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How to get cheap car insurance in Edmonton
Shop and compare
Research which company provides cheap car insurance in Edmonton, and also the best value for you and your vehicle. Rates may change up to four times a year, but lucky for you comparing Edmonton car insurance with us is free.
Stay with your current insurer
Some Edmonton auto insurance companies will give loyalty discounts to drivers who remain active with them for years. Especially if they add family members or multiple vehicles to their policy.
Bundle your policies
If you use the same insurance company for both your home and auto insurance needs, your insurer will often thank you with a dip in premiums.
Get a multi car discount
If you have multiple drivers and vehicles in the same household, by putting them all on one policy can save you money.
Increase your deductible
Your deductible is the portion you pay when settling a claim before your insurer will pay the rest. If you’re willing to double your deductible, it could save you money.
Ask about discounts
If you’re a member of a large corporation, union, or a school alumnus, it could help you get cheaper Edmonton car insurance
Pay premiums annually, instead of monthly
Paying monthly adds administrative costs to your insurer, so if you’re able to pay in full annually you can lower your premiums.
Maintain a good driving record
If you’re a safe driver, obey the rules of the road and drive according to road conditions you can reduce your chances of an accident. Car crashes stay on your insurance record for up to ten years and can result in higher premiums.
Install winter tires
You can save 3% - 5% simply by adding winter tires to your car in Alberta
Ready to compare car insurance in Edmonton?
FAQ
Frequently asked questions about Edmonton car insurance
What are the best car insurance companies in Edmonton?
Who are the best car insurance brokers in Edmonton?
Is there such a thing as month to month car insurance in Edmonton?
How can I get cheap car insurance in for new drivers in Edmonton?
Does collector car insurance in Edmonton exist?
Author Bio
Matt Hands, Business Director of Insurance
Matt started his professional career at CARPROOF where he honed his marketing and analytical skills for over 3 years. Matt then took his wealth of experience to Ratehub.ca’s Toronto offices, working with insurance providers, agents, and brokers to grow and expand the Insurance business unit. He is a thought leader in the community and a valuable insurance resource to respected publications like the Globe & Mail, Toronto Star, Huffington Post, Yahoo News, and 680 news radio in Toronto.
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