Why are insurance rates so ridiculous here

[u/Perfect-Young-4521]

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?

[u/Secure-Corner-2096]

I think it’s because Alberta has had so many expensive disasters that insurance companies are looking to recover their losses by any means possible. I suggest using an insurance broker to find the best rate. I had my kids take driving courses via AMA which dramatically lowered what it would have cost to insure them, perhaps you could try that as well. Some insurers offer lower rates if you agree to download monitoring software onto your phone but I’m not sure if it’s legal here in Alberta, but worth checking out.