What about car insurance rates in Edmonton?
Edmonton definitely lives up to its nickname, “North Gate.” As the fifth largest city in Canada and home to nearly 1 million people, Edmonton is flourishing. Along with infrastructure and population growth, there is an increase in vehicles on Edmonton’s roads. All these drivers need to move and there is no shortage of routes to get anywhere; With a connecting road network, you can get from Summerside to St. Albert with ease.
Whether you’re taking a road trip through the prairies or commuting the Calgary Trail, every Edmonton driver needs car insurance. Rates are changing in Alberta, so all Edmonton drivers should take advantage of the price comparison to get the best rate.
Let’s see what’s going on with car insurance in Edmonton.
Average Auto Insurance Rates in Edmonton and Alberta
Alberta car insurance premiums averaged $ 122 / month in 2017, while Ontario car insurance premiums averaged about $ 161 / month in 2017. Drivers in Albertan pay about 25 percent less for auto insurance than Ontario drivers.
It’s interesting to note that, on average, women pay less than men for Alberta auto insurance premiums – $ 116 a month compared to the $ 126 a month men paid in 2017, but this is pretty standard in all of Canada.
Young drivers in Edmonton (25 and under) paid about $ 187 / month in 2017 for Alberta car insurance. Alberta’s auto insurance premiums decline as drivers age. For example, in 2017, people ages 31-35 paid about $ 152 per month, people ages 46-50 paid about $ 122 per month, and people ages 56-60 paid about $ 100 per month. .
Alberta drivers with a taste for luxury vehicles can expect their auto insurance rates to rise. Drivers with cars valued between $ 40,000 and $ 80,000 paid about $ 170 / month for their premiums in 2017.
For Albertans who choose to purchase a modest vehicle valued between $ 10,000 and $ 20,000, they can expect their Alberta auto insurance premium to be about $ 123 / month. This means that the rates would be similar for older models of compact car brand luxury brands such as Kia, Mazda, Ford, etc.
Facts You Should Know About Auto Insurance
LowestRates.ca (an online rate comparison website for auto insurance, credit card rates, loans and mortgages) released its 2018 Auto Insurance Price Index report. This is the only Canadian price index that uses proprietary data to track the average quarterly cost of auto insurance paid by Canadians. The data comes from the hundreds of thousands of quotes processed each year by LowestRates.ca. The index report shows that since the fourth quarter of 2016, Alberta’s auto insurance price has risen 5.1 percent in 2017, meaning the average Alberta driver paid more for auto insurance in 2017. than in 2016.
The police have jurisdiction when it comes to deciding who is criminally liable for a car accident, but when it comes to car insurance claims, the insurance company makes the decision. It is the insurance company that will investigate the accident and make a decision on who was at fault, which ultimately decides whether the insured will have to pay the deductible or not.
Statistics for the 10 most stolen cars from the Insurance Bureau of Canada (IBC) in 2014 revealed that cars made between 1999 and 2007 were in the top 10. -Theft of devices. Additionally, the IBC states that car owners sometimes make it easy for car thieves to get away with it. About 20 percent of all stolen vehicles had the keys in them.
Although parking tickets are a nuisance and avoidable expense for drivers, insurance companies don’t care about how many drivers you have; therefore, they do not affect auto insurance rates. However, if the tickets are not paid for, you will not be able to renew your driver’s license or registration; And if your driver’s license is suspended, it will affect your insurance rates.
Edmonton auto insurance rates are changing, but the good news is, you can shop around for the best price. You don’t have to settle for a quote from an insurance agency. At InsurEye, our brokers buy the market for you, so you can get the best policy for your needs and budget.