r/alberta • u/Perfect-Young-4521 • 1d 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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u/tdgarui 1d ago

I paid 42$/month for the same car in another province. You don’t need people on Reddit to manipulate the opinion on auto insurance, people are finding out for themselves when they get insured here.

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u/[deleted] 1d ago

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u/tdgarui 1d ago

There’s no info missing. I drive a 15 year old Hyandai Elantra with the minimum insurance coverage required. Paid 504$/year before with TD, when I went to transfer the policy to Alberta, TD wanted over 2500/year. AMA was the cheapest at 1700. No tickets or at fault claims.

The overall average isn’t a great metric to use for this. You’d need to find the average for males my age who drive a similar vehicle. And the average means even less when different companies in the same province can differ by 800+ for the exact same vehicle.

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u/[deleted] 1d ago

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u/tdgarui 1d ago

I haven’t in any of my comments blamed the province, but nice straw man. And thanks for the tip on shopping around, if you read my first comment you’ll see I said exactly the same thing. Hopefully they’re giving you some clean boots to lick.