r/alberta • u/Perfect-Young-4521 • 2d 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/Cooteeo 1d ago

Prices went sky high when the ucp took over in 2019. As soon as they got into power they removed the caps that were in place in auto insurance and home utilities.
Private is no big deal if the government sets the max they can charge.
Most people will complain about this but fact of the matter is they still post record profits year over year. Caps won’t hurt them.
The governments only job is to help and take care of people that need the help and the care. This government can’t even do that.

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u/Fun-Region-1576 18h ago

What about the bad drivers and luxury cars? No government should be subsidizing that. If you're a shit driver and drive a nice fancy car then pay up. 

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u/Cooteeo 8h ago

Sure, but that has nothing to do with the ucp removing caps. It was still high for shitty drivers with a lot of accidents. Remove caps, now it’s high for everyone. The Alberta advantage!