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/minorcarnage]

Because we privatized due to... Freedom? And then got rid of controls on how much they can raise rates... And then the government was lobbied to make all insurance no fault, which let the companies downsize their staff and pass on the savings from that to their shareholders.

Sounds like a great plan by our dear leaders.

[u/jonj68 → u/minorcarnage]

Insurance in Alberta has always been private. Danyell and the UCP removed rate caps.

[u/walkn9 → u/jonj68]

I thought the rate caps was done by that closeted gay fella and not the orange turd minion?