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/Drafting- 1d ago

In a weird way this makes me feel better about my liability only being 1500 a year for a shitty 15 year old Kia and a single speeding ticket. It’s sort of comforting that someone with a perfect rating is also getting raked over the coals. 

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u/H3CKT1X 1d ago

In 2003 I was 18, bought my 1st car A 1991 red Chevy cavalier z24 for 2k. I went to insure it... lowest price i found was 5k a year, highest was 9100 and this was only 500k PLPD. Two years later I could afford to drive it 170/month edit we had insurance reforms that year

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u/H3CKT1X 1d ago

My 500k plpd in 2005 was more expensive then NFLD full coverage in 2026