Compare Edmonton Car Insurance Quotes

Q: 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 continue to rise due to inflation, fraud and other market factors, so it's important to shop the market for car insurance quotes yearly.

Q: How can I get cheap car insurance in for new drivers in Edmonton?

Whether you're a new driver , such as a recent immigrant, or a young driver , finding cheap car insurance in Edmonton will be difficult. With limited driving experience on Canadian roads, there is a higher risk to the insurer and therefore higher monthly premiums. If you're a new driver, try and get some paperwork from your past insurer, it could help your provider lower your rate. Being a young driver can be just as costly. If you already completed a driver's education course and have your full license, it may be time to consider usage-based car insurance .

Q: Does collector car insurance in Edmonton exist?

Have a collector, antique, or collector car and need insurance? Hagerty car insurance specialized in these types of cars. Feel free to compare classic car insurance quotes to see what rate you can get.

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How car insurance in Edmonton works

Matt Hands, Sr. Business Unit Director

January 6, 2023

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 car 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

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)

Direct Compensation for Property Damage (DCPD)

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

Compare Edmonton insurance quotes and uncover the savings

In less than 5 minutes, you can compare multiple quotes from a number of Edmonton's top car insurance companies, for free.

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

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 quotes with us is free.
Stay with your current insurer
Some Edmonton car 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 up to 3-5% simply by adding winter tires to your car.

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Frequently asked questions about Edmonton car insurance

How much is car insurance in Edmonton?

What are the best car insurance companies in Edmonton?

When we think of the best car insurance companies, we often think of big players like TD, Wawanesa, or State Farm. However, the best car insurance company for you is the one that will give you the best rate and provide excellent customer service.

We make that part easy for you. By entering your postal code and answering a few questions, we'll let you know which insurance company provides the best rate based on your unique driving profile. From there, we'll connect you with an insurance broker who can put the final touches on your policy and answer any questions you may have.

Who are the best car insurance brokers in Edmonton?

Finding the best car insurance broker is a matter of personal choice. You can read reviews and ask friends or family for referrals, but it's difficult to know if you've got the best one until you actually go through the process. That said, any broker licensed by the Insurance Brokers Association of Alberta can help you out. If you get Edmonton car insurance quotes with us, we'll connect you with our preferred brokerages in Alberta to help you navigate through your policy and ensure you get the coverage you want.

Is there such a thing as month to month car insurance in Edmonton?

The standard auto insurance policies are sold in 6 and 12-month increments. However, CAA has their MyPace program which bills by kilometres driven and may be more suitable for your situation. If you drive more than 9,000km in a year, though, best to look elsewhere. Look for car-sharing programs like Communauto.

If you're looking for temporary car insurance in Edmonton, to transport a vehicle, call your insurance provider. There is a 14-day period in which this is allowed.

How can I get cheap car insurance in for new drivers in Edmonton?

Whether you're a new driver, such as a recent immigrant, or a young driver, finding cheap car insurance in Edmonton will be difficult. With limited driving experience on Canadian roads, there is a higher risk to the insurer and therefore higher monthly premiums.

If you're a new driver, try and get some paperwork from your past insurer, it could help your provider lower your rate. Being a young driver can be just as costly. If you already completed a driver's education course and have your full license, it may be time to consider usage-based car insurance.

Does collector car insurance in Edmonton exist?

Matt Hands, Business Director of Insurance

With 6+ years of experience at Ratehub.ca, Matt’s focus has been on growing its newest business unit, Insurance. He is a thought leader and a valuable resource to respected publications across Canada. read more

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