If you’re getting a new vehicle for commuting, hauling cargo or ferrying your kids around Edmonton, you’ll also have to find the best auto insurance for your needs and your budget.
It’s worth the effort to get a few car insurance quotes for Edmonton, as rates vary not just by province but by city and town, and even neighbourhood, too. Car insurance rates in Alberta are among the highest in Canada, according to the Automobile Insurance Rate Board (AIRB), an independent agency established by Alberta’s finance ministry. To make the task easier, you can use a free online auto insurance comparison tool.
Read on to find out what drivers need to know about comparing car insurance quotes for Edmonton.
In Alberta, the average cost of vehicle insurance is $1,703 (data from the first half of 2024, the most recent available). But in a densely populated place like Edmonton—where there’s a greater chance of being involved in a vehicle accident and of your car or truck getting stolen—you’ll probably be charged more than the average.
To give you a sense of the cost, I’ve sourced a few quotes from Ratehub.ca, which compares financial products and provides insurance quotes. (Ratehub.ca and MoneySense.ca are both owned by Ratehub Inc.) A single 38-year-old with a clean driving record, insuring a Ford F150 XL Regular Cab four-wheel-drive pickup truck with all of the mandatory coverage, would be charged the following premiums:
To estimate the cost of insuring different vehicles in Edmonton, read MoneySense’s guide to comparing auto insurance quotes.
Auto insurance rates can also vary from neighbourhood to neighbourhood. Curious about what coverage you can get in your part of Edmonton? Check out the five-year weighted average premium and the cost of claims per policy for your postal code on the AIRB website.
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Canadian insurers play it safe when it comes to vehicle insurance rates, including in Alberta. When you apply for auto insurance, they assess how risky you and your car are to insure and then set a premium based on that.
Insurance companies in Alberta use several pieces of information to determine risk and premiums. Some are out of your control, like their own legal fees, an increase in extreme weather events and inflation increases. But other factors are connected to you—such as your driving experience—and some depend on the vehicle you want to insure.
Let’s look at how premiums are affected by certain demographic and vehicle-related factors.
If you’ve had any driving convictions or traffic tickets in the past three years, and/or any auto insurance claims in the past six years, there’s a good chance an insurer is going to charge you more than the average auto insurance rate. Any driver education you’ve had and how long you’ve had your licence are also on your driving record. Insurers take these into account when providing vehicle insurance quotes. If you’ve completed a formal driver education course, you may get a discount of 5% to 20%, depending on the insurer.
Unfortunately, if you’re single, you may get dinged on insurance premiums. Auto insurers have data to show that singletons are more likely to drive more often and less safely than people in relationships, who are more apt to be homebodies and possibly parents.
Some vehicles are less risky to insure than others, including those with more safety features and those less likely to be stolen.
In 2024, the majority of stolen vehicles in Western Canada were trucks, according to Équité Association, a national not-for-profit organization that works with Canadian insurers to combat fraud. It adds that the theft of newer trucks is on the rise.
The AIRB notes that insurers also consider your vehicle’s make, model and ease of repair, as they affect how much it costs to fix or replace your car or truck.
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Statistically, young adults are riskier drivers due to inexperience and a touch of bravado. This means their vehicle insurance tends to be on the more expensive side.
In its 2021 collision statistics report, the Alberta government found that based on collision rates per 1,000 licensed drivers, male drivers aged 18 to 19 “were more likely to be involved in a casualty collision than any other age group.” (A casualty collision is one that caused a death or personal injury.) Curious who was next in line? Males aged 16 to 17.
Things improve on the vehicle insurance front, financially speaking, at around ages 23 to 25. And rates tend to fall even more when people hit age 50 because insurers expect them to drive more carefully due to experience and aversion to risk.
Data from Ratehub.ca shows that in Alberta, insurance premiums decrease starting at age 60 and rise slightly starting at age 70. If you’re a retiree and/or mature driver, ask your insurer about discounts.
Where you park your car can impact insurance rates, too. The more protected your vehicle is, the better. Your best bet? A garage. The worst bet? Street parking, which leaves your car or truck more vulnerable to getting hit or stolen.
Your gender will impact the cost of your vehicle insurance premiums. And, spoiler alert: men often get charged more for auto insurance. That’s because, statistically speaking, men are riskier drivers. They’re usually the ones at the wheel when there’s a casualty collision. The Alberta government notes in its most recent data that in 2021 males’ collision rate per 1,000 licensed drivers was 6.2, while for females, it was 4.4. There is no reporting of significant data for gender X.
There are three gender options Alberta drivers can choose from for their licence: male, female and gender X. Not all insurers list gender X as an option; those that do use a combination of the male and female rates or just the female rate when setting premiums, according to the Canadian Institute of Actuaries.
The Alberta government’s new type of no-fault insurance system, coming into effect on Jan. 1, 2027, is supposed to lower insurance costs. But it’s unclear what impact these reduced costs for insurers will have on drivers’ premiums. Until then, here are some ways you can lower your auto insurance rate, courtesy of the AIRB.
Comparison shopping is your friend. When choosing auto insurance, it could potentially save you thousands of dollars over the years. Start checking out your options well before your insurance renewal date each year.
Albertan insurers offer 5% to 10% off to customers who buy multiple types of insurance, such as home and auto, from the same company.
While Équité Association says vehicle theft is coming down in Canada, it’s decreasing more slowly in Western Canada. It’s important for Edmonton drivers to protect their cars and trucks.
Being proactive about this can also save you money. Insurers may offer you a discount on premiums if you install an anti-theft device such as an alarm, a brake pedal lock or a steering column collar.
Source: Équité Association
Maintaining a clean driving record can save you a lot of money on insurance premiums.
The AIRB says that if you have no prior convictions and get a minor conviction (say, failing to signal a turn or not yielding the right of way to a pedestrian), your rates could go up by 15%. A Criminal Code conviction (like driving under the influence of alcohol or drugs) could result in a 111% increase in your premiums.
You increase your odds of getting into a car accident every time you drive, so to manage their risk, insurers will charge you more if you are a daily commuter or use your car a lot.
Winter tires lower your risk of a weather-related accident, so insurers sometimes offer discounts if you use them. (For tips, read MoneySense’s guide to buying winter tires.)
There’s no question that car insurance in Alberta is expensive. The best ways to get an affordable rate are to reduce your risk level before getting quotes, and then shopping around to compare premiums.
So, if it’s an option for you, consider alternatives like walking, cycling or public transit; you might get a discount on your car insurance for driving less often.
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The post Compare Edmonton auto insurance quotes online appeared first on MoneySense.
It’s worth the effort to get a few car insurance quotes for Edmonton, as rates vary not just by province but by city and town, and even neighbourhood, too. Car insurance rates in Alberta are among the highest in Canada, according to the Automobile Insurance Rate Board (AIRB), an independent agency established by Alberta’s finance ministry. To make the task easier, you can use a free online auto insurance comparison tool.
Read on to find out what drivers need to know about comparing car insurance quotes for Edmonton.
How much is car insurance in Edmonton?
In Alberta, the average cost of vehicle insurance is $1,703 (data from the first half of 2024, the most recent available). But in a densely populated place like Edmonton—where there’s a greater chance of being involved in a vehicle accident and of your car or truck getting stolen—you’ll probably be charged more than the average.
To give you a sense of the cost, I’ve sourced a few quotes from Ratehub.ca, which compares financial products and provides insurance quotes. (Ratehub.ca and MoneySense.ca are both owned by Ratehub Inc.) A single 38-year-old with a clean driving record, insuring a Ford F150 XL Regular Cab four-wheel-drive pickup truck with all of the mandatory coverage, would be charged the following premiums:
| Gender | Annual insurance premiums |
|---|---|
| Males | $3,431 |
| Female | $3,330 |
| Gender X | $3,043 to $3,330 |
To estimate the cost of insuring different vehicles in Edmonton, read MoneySense’s guide to comparing auto insurance quotes.
Auto insurance rates can also vary from neighbourhood to neighbourhood. Curious about what coverage you can get in your part of Edmonton? Check out the five-year weighted average premium and the cost of claims per policy for your postal code on the AIRB website.
Resource highlight
Compare car insurance quotes and save
In under five minutes, compare personalized auto insurance quotes from Canada’s top providers.
compare now Powered by ratehub.ca
What affects auto insurance costs in Edmonton?
Canadian insurers play it safe when it comes to vehicle insurance rates, including in Alberta. When you apply for auto insurance, they assess how risky you and your car are to insure and then set a premium based on that.
Insurance companies in Alberta use several pieces of information to determine risk and premiums. Some are out of your control, like their own legal fees, an increase in extreme weather events and inflation increases. But other factors are connected to you—such as your driving experience—and some depend on the vehicle you want to insure.
Let’s look at how premiums are affected by certain demographic and vehicle-related factors.
The impact of your driving record on insurance premiums
If you’ve had any driving convictions or traffic tickets in the past three years, and/or any auto insurance claims in the past six years, there’s a good chance an insurer is going to charge you more than the average auto insurance rate. Any driver education you’ve had and how long you’ve had your licence are also on your driving record. Insurers take these into account when providing vehicle insurance quotes. If you’ve completed a formal driver education course, you may get a discount of 5% to 20%, depending on the insurer.
The effect of your relationship status on your insurance
Unfortunately, if you’re single, you may get dinged on insurance premiums. Auto insurers have data to show that singletons are more likely to drive more often and less safely than people in relationships, who are more apt to be homebodies and possibly parents.
Your vehicle type’s impact on your insurance
Some vehicles are less risky to insure than others, including those with more safety features and those less likely to be stolen.
In 2024, the majority of stolen vehicles in Western Canada were trucks, according to Équité Association, a national not-for-profit organization that works with Canadian insurers to combat fraud. It adds that the theft of newer trucks is on the rise.
The AIRB notes that insurers also consider your vehicle’s make, model and ease of repair, as they affect how much it costs to fix or replace your car or truck.
Featured Personal Loans
featured
Fig Financial
Apply for a personal loan with a 8.99% to 29.49% APR. Plus, 100% online application and no early repayment fees.
find your rate
featured
Spring Financial
Apply for a personal loan with a 9.99% to 34.95% APR. Plus, fast e-transfers and no hit to your credit score when you apply.
find your rate
featured
Fora Credit
Apply for a personal loan with a 19.90% to 34.90% APR. Plus, fast funding (as soon as the same business day). Not available in Quebec, PEI, Manitoba, Newfoundland and Labrador, Northwest Territories, Nunavut and Yukon.
Find your rate
The impact of your age on auto insurance
Statistically, young adults are riskier drivers due to inexperience and a touch of bravado. This means their vehicle insurance tends to be on the more expensive side.
In its 2021 collision statistics report, the Alberta government found that based on collision rates per 1,000 licensed drivers, male drivers aged 18 to 19 “were more likely to be involved in a casualty collision than any other age group.” (A casualty collision is one that caused a death or personal injury.) Curious who was next in line? Males aged 16 to 17.
Things improve on the vehicle insurance front, financially speaking, at around ages 23 to 25. And rates tend to fall even more when people hit age 50 because insurers expect them to drive more carefully due to experience and aversion to risk.
Data from Ratehub.ca shows that in Alberta, insurance premiums decrease starting at age 60 and rise slightly starting at age 70. If you’re a retiree and/or mature driver, ask your insurer about discounts.
Park indoors, if possible
Where you park your car can impact insurance rates, too. The more protected your vehicle is, the better. Your best bet? A garage. The worst bet? Street parking, which leaves your car or truck more vulnerable to getting hit or stolen.
Your gender’s impact on car insurance
Your gender will impact the cost of your vehicle insurance premiums. And, spoiler alert: men often get charged more for auto insurance. That’s because, statistically speaking, men are riskier drivers. They’re usually the ones at the wheel when there’s a casualty collision. The Alberta government notes in its most recent data that in 2021 males’ collision rate per 1,000 licensed drivers was 6.2, while for females, it was 4.4. There is no reporting of significant data for gender X.
There are three gender options Alberta drivers can choose from for their licence: male, female and gender X. Not all insurers list gender X as an option; those that do use a combination of the male and female rates or just the female rate when setting premiums, according to the Canadian Institute of Actuaries.
How to lower car insurance in Edmonton
The Alberta government’s new type of no-fault insurance system, coming into effect on Jan. 1, 2027, is supposed to lower insurance costs. But it’s unclear what impact these reduced costs for insurers will have on drivers’ premiums. Until then, here are some ways you can lower your auto insurance rate, courtesy of the AIRB.
Get several auto insurance quotes
Comparison shopping is your friend. When choosing auto insurance, it could potentially save you thousands of dollars over the years. Start checking out your options well before your insurance renewal date each year.
Save money by bundling your insurance policies
Albertan insurers offer 5% to 10% off to customers who buy multiple types of insurance, such as home and auto, from the same company.
Level up your vehicle security
While Équité Association says vehicle theft is coming down in Canada, it’s decreasing more slowly in Western Canada. It’s important for Edmonton drivers to protect their cars and trucks.
Being proactive about this can also save you money. Insurers may offer you a discount on premiums if you install an anti-theft device such as an alarm, a brake pedal lock or a steering column collar.
| No. | Make/Model | Most often stolen model year | Number of vehicles insured | Number of thefts | Theft rate/frequency (%) | Type |
|---|---|---|---|---|---|---|
| 1 | Toyota Highlander | 2021 | 123,532 | 3,414 | 2.76 % | SUV |
| 2 | Dodge Ram 1500 Series | 2022 | 524,837 | 3,078 | 0.59 % | Truck |
| 3 | Lexus RX Series | 2022 | 96,400 | 3,037 | 3.15 % | SUV |
| 4 | Honda CR-V | 2021 | 487,962 | 2,988 | 0.61 % | SUV |
| 5 | Toyota RAV4 | 2021 | 507,451 | 2,690 | 0.53 % | SUV |
| 6 | Honda Civic | 2019 | 697,143 | 1,654 | 0.24 % | Car |
| 7 | Jeep Wrangler | 2021 | 141,379 | 1,641 | 1.16 % | SUV |
| 8 | Land Rover Range Rover Series | 2020 | 34,615 | 1,533 | 4.43 % | SUV |
| 9 | Chevrolet / GMC Suburban / Yukon / Tahoe Series | 2023 | 62,877 | 1,488 | 2.37 % | SUV |
| 10 | Chevrolet / GMC Silverado / Sierra 1500 Series | 2006 | 595,765 | 1,383 | 0.23 % | Truck |
Make sure your driving record is clean
Maintaining a clean driving record can save you a lot of money on insurance premiums.
The AIRB says that if you have no prior convictions and get a minor conviction (say, failing to signal a turn or not yielding the right of way to a pedestrian), your rates could go up by 15%. A Criminal Code conviction (like driving under the influence of alcohol or drugs) could result in a 111% increase in your premiums.
Spend less time behind the wheel
You increase your odds of getting into a car accident every time you drive, so to manage their risk, insurers will charge you more if you are a daily commuter or use your car a lot.
Change your tires
Winter tires lower your risk of a weather-related accident, so insurers sometimes offer discounts if you use them. (For tips, read MoneySense’s guide to buying winter tires.)
Affordable car insurance in Edmonton is possible!
There’s no question that car insurance in Alberta is expensive. The best ways to get an affordable rate are to reduce your risk level before getting quotes, and then shopping around to compare premiums.
So, if it’s an option for you, consider alternatives like walking, cycling or public transit; you might get a discount on your car insurance for driving less often.
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subscribe nowRead more about auto insurance:
- Compare car insurance in Calgary
- Compare high-risk auto insurance quotes for Ontario
- Compare car insurance quotes from top providers in Canada
- Why car insurance premiums are rising and what to do about it
The post Compare Edmonton auto insurance quotes online appeared first on MoneySense.