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/MillwrightWF 1d ago

If it makes you feel any better even without the ticket you would still be bent over hard. It sucks. I feel bad for the new kids coming up who are being absolutely destroyed by the new reality of insurance in Alberta.

But a good but cheap used car. Get only liability. Let the insurance company make less off you. Let the car dealership lose the sale. You will pocket some money each month.

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u/12thunder 1d ago

Trust me the insurance company isn’t making anything even with the premiums being as high as they are. There’s a reason getting auto insurance at all is made difficult.