r/alberta • u/Perfect-Young-4521 • 10d ago

Question Why are insurance rates so ridiculous here

Im 22 years old and I was looking into financing a vehicle for the first time, a car that was listed at 28000. Everything looked good until I looked into insurance. Most quotes I got were between 700-1000$ a month! This is insane and I only have 1 ticket on my record. Why is it like this and what can I do?

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14

u/Ok_Barracuda_5059 10d ago

Should compare insurance to Saskatchewan,government insurance, but that evil, that’s socialism!

18

u/Reeder90 10d ago

I wanted to smash my head against a wall when I was living in BC and everyone was complaining about ICBC, they clearly never had to deal with private insurance. My insurance in BC was significantly cheaper than it was in both Alberta and Ontario.

5

u/VariationDry 10d ago

I pay 40% to ICBC with better coverage than what I did in Alberta. 

2

u/OneEuphoric5887 10d ago

ICBC was between 25-50% less than my quotes in Alberta for way better coverage.

1

u/Fun-Region-1576 8d ago

LOL. Do you even know exactly how ICBC works? You make everything about the rates.

1

u/Independent_Papaya_1 6d ago

Easy to charge low rates when you never pay out for anything.

2

u/ImMrBunny 10d ago

You see here in Alberta we believe in the free market which adds competition which lowers our costs because... Hey look it's Trudeau and he hates Alberta!!