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- How does Edmonton auto insurance work?
- How to get the cheapest Edmonton car insurance quote
- Mandatory & optional car insurance coverage in Edmonton
- How much does Edmonton car insurance cost?
- The cheapest car insurance in Edmonton
- Compare quotes and save on Edmonton auto insurance
- Compare Edmonton car insurance premiums against other Alberta regions
- Factors that determine your Edmonton car insurance rate
- What can I do to get cheaper car insurance in Edmonton?
- Frequently asked questions about auto insurance in Edmonton (FAQs)
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| Cheapest Rate | $2,217 |
| Average Rate | $2,745 |
| Savings: $528 (19%) | |
| Cheapest Rate | $3,181 |
| Average Rate | $3,888 |
| Savings: $707 (18%) | |
| Cheapest Rate | $2,408 |
| Average Rate | $4,726 |
| Savings: $2,318 (49%) | |
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June 11, 2024How does Edmonton auto insurance work?
The Automobile Insurance Rate Board (AIRB) of Alberta regulates the criteria car insurance companies can use to rate customers; this directly impacts Edmonton car insurance prices. The auto insurance industry is also overseen by the Alberta Superintendent of Insurance. It is mandatory to purchase insurance coverage from a private insurer if you drive a vehicle in Edmonton or anywhere else in the province. There are three mandatory coverages, which everyone must have, and multiple optional coverages available, depending on your needs.
Mandatory insurance for drivers in Edmonton
- Third-Party Liability: Third-party liability coverage is mandatory because if you are in some way responsible for an accident-causing injury or damage to a third party, your insurance will help pay for any lawsuits filed against you.
- Direct Compensation for Property Damage (DCPD)
DCPD will pay to repair or replace your car if it's damaged in an accident that you weren't at fault for causing. Your insurance company will compensate you; you won't have to deal with the at-fault driver at all. Making a DCPD claim won't affect your premium in the future and there's no deductible. Alberta introduced Direct Compensation for Property Damage as part of the Automobile Insurance Reforms in 2020. DCPD replaced the property damage portion of the third-party liability coverage on a driver's auto insurance policy effective January 1, 2022. - Accident Benefits: Having Accident Benefits is also mandatory for your insurance policy. This covers medical/rehabilitation costs, death benefits, funeral expenses, and income replacement in the event of an injury resulting from a car accident.
Without this minimum coverage, you are not able to register your automobile. Driving an unregistered and uninsured automobile is illegal in Canada.
Optional insurance for drivers in Edmonton
Most drivers in Edmonton supplement the mandatory (basic) insurance by purchasing additional coverage. Here are some of the optional coverages available to drivers in Edmonton:
- Collision: If your vehicle is damaged in a collision with another vehicle, an object, or the ground, collision coverage pays for your vehicle's repair. There is usually a deductible amount for this coverage.
- Comprehensive: Covers damage resulting from an event other than a collision, such as hail, vandalism, theft, or fire. There is usually a deductible amount for this coverage.
- Specified Perils: This coverage is a more limited version of comprehensive coverage. It covers damage from specific events such as fire, lightning, theft, etc. There is usually a deductible amount for this coverage.
- Endorsements: An endorsement is an attachment that increases or reduces coverage to a standard automobile policy. Some common coverages under this are Comprehensive Cover Limited Glass (SEF 13D) which limits the coverage on a vehicle's glass for a reduced premium, and Accident Rating Waiver (SEF 39), protecting the renewal of your insurance from increasing due to an at-fault accident involving your insured vehicle, among others.
The Grid program
The Grid rating program was developed to establish the maximum rate insurance companies can charge for basic coverage. Over 90% of Alberta drivers do not pay grid rates, according to the AIRB.
Insurance companies must compare a driver's rate under their current rating program to a driver's rate calculated for the grid and charge the lesser of the two rates.
A Grid step is a position on a scale that measures licensed experience and at-fault accident claims. Each step is associated with a percentage used in the grid rate calculation. These steps are part of the Grid Rating Program, which sets maximum rates for basic auto insurance coverage (third-party liability bodily injury, property damage tort and accident benefits) that insurance companies can charge. The number of collisions and driving experience determine a driver's Grid step.
Changes to Alberta auto insurance in 2024
Auto insurance rates for 'good' drivers are currently capped in Alberta. Insurance companies can't raise premiums by more than 3.7%, the rate of inflation, for drivers who haven't had:
- An at-fault accident in the past six years
- A Criminal Code traffic conviction in the last four years
- A major traffic conviction in the last three years
- More than one minor traffic conviction in the last three years.
Mandatory & optional car insurance coverage in Edmonton
| Insurance type | Mandatory coverage | Optional coverage |
|---|---|---|
| Accident benefits | Sometimes called no-fault benefits or Section B benefits, this covers costs associated with income replacement up to 80% of weekly earnings (max. $400 per week) for up to two years; medical treatment up to $50,000 per person per accident; funeral expenses of up to $5,000 per person; death benefits of $10,000 for head of household plus $2,000 to each dependent, $15,000 for first survivor and $4,000 for each additional survivor; $10,000 for the death of the spouse of the head of the household. | |
| Direct Compensation for Property Damage (DCPD) | This coverage, introduced in Alberta at the beginning of 2022, means that the driver’s own insurance company compensates the driver for damages following a collision for which the driver is not at fault. Alberta’s previous system, which was tort-based, required that drivers who were not at-fault to seek compensation from the other driver’s insurance company. This approach tends to be time-consuming and costly. | |
| Third-party Liability | Also known as third-party liability, this covers costs associated with lawsuits pertaining to injury, deaths, or damage to property of a third party in which you are responsible. The mandatory minimum policy limit is $200,000. According to AIRB, over 98% of Alberta’s drivers opt for additional liability coverage. | The most common coverage limits are $500,000, $1 million and $2 million. |
| Collision coverage | Optional | Covers car replacement or repair costs if your car is damaged in a collision and the policyholder is at fault. |
| Specified perils | Optional | Covers damage from perils specifically named in the Alberta auto insurance policy, such as attempted theft, damage in transport, earthquake, explosions, fire, lightning, riots or windstorm. |
| All-perils | Optional | Covers many perils, broadly, has similarities to collision and comprehensive coverage. |
| Accident Rating Waiver (SEF 39) | Optional | Prevents an Alberta car insurance premium from going up following a collision in which the policyholder is at fault. |
| Family Protection (SEF 44) | Optional | Protects drivers in a collision with an underinsured or uninsured driver. Will cover the difference if costs exceed the other driver’s insurance benefit. |
| Legal Liability for Damage to Non-Owned Automobiles (SEF 27) | Optional | Extends physical damage coverage to include rental cars. Drivers with this endorsement on their policies don’t need to purchase additional coverage when they rent a car. |
| Limited Glass (SEF 13D) | Optional | Reduces the amount of coverage for glass damage in exchange for a lower premium. |
| Limited Waiver of Depreciation (SEF 43R) | Optional | Waives depreciation on the repair or replacement of a new vehicle following damage from a covered peril. Is usually applicable to vehicles that are less than two years old. |
| Loss of Use (SEF 20) | Optional | Compensation for transportation costs up to a limit when a vehicle is damaged due to a covered peril. |
| Towing and Emergency Services (SEF 35) | Optional | Coverage for towing and other emergency service costs when a vehicle is disabled, and the driver doesn’t have roadside assistance. |
How much does Edmonton car insurance cost?
On average, Edmonton drivers pay some of Canada's highest auto insurance premiums. The highest estimated average car insurance premium is $2,195. The lowest estimated premium is $1,940.
We pulled the data for you in the table below. Your forward sortation area is the first three characters of your postal code.
If you want to see how your premium compares to drivers in another city in Alberta, check out the RATESDOTCA Insuramap data for the complete picture of car insurance prices in the province.
| Forward sortation area | Neighbourhood | Average annual premium |
|---|---|---|
| T5A | Belmont, Belvedere, Casselman, Homesteader, Kennedale Industrial, Kernohan, Northeast Edmonton | $2,195 |
| T5B | Alberta Avenue, Bellevue, Cromdale, Eastwood, Industrial Heights, Montrose, North Central Edmonton, Northeast Edmonton | $2,195 |
| T5C | Balwin, Belvedere, Delwood, Kildare, Kilkenny, Northeast Edmonton | $2,195 |
| T5E | Calder, Evansdale, Glengarry, Griesbach, Killarney, Lauderdale, Northeast Edmonton, Northwest Edmonton | $2,195 |
| T5G | Alberta Avenue, Edmonton Municipal Airport, North Central Edmonton | $2,195 |
| T5H | Boyle Street, Central McDougall, McCauley, North Central Edmonton | $2,195 |
| T5L | Baranow, Bonaventure Industrial, Calder, Dominion Industrial, Dovercourt, Hagmann Estate Industrial, Huff Bremner Estate Industrial, McArthur Industrial, Northwest Edmonton | $2,195 |
| T5W | Abbottsfield, Beacon Heights, Beverly, Highlands, Industrial Heights, Montrose, Newton, Northeast Edmonton | $2,195 |
| T5J | Downtown, Downtown Edmonton, North Central Edmonton | $2,148 |
| T5K | Downtown, North Central Edmonton, Oliver | $2,148 |
| T5X | Baranow, Baturyn, Beaumaris, Carlisle, Dunluce, Eaux Claires, Lorelei, Northwest Edmonton | $2,148 |
| T5Y | Bannerman, Brintnell, Clareview Campus, Cy Becker, Fraser, Gorman Industrial West, Hairsine, Matt Berry, McConachie Area, Miller, Northeast Edmonton | $2,148 |
| T5Z | Belle Rive, Eaux Claires, Klarvatten, Lago Lindo, Mayliewan, Northeast Edmonton | $2,148 |
| T6V | Baranow, Cumberland, Hudson, Mistatim Industrial, Northwest Edmonton | $2,148 |
| T5V | Carleton Square Industrial, Gagnon Estate Industrial, Garside Industrial, Hawin Park Estate Industrial, Kinokamau Plains Area, Mistatim Industrial, Mitchell Industrial, Northwest Edmonton | $2,137 |
| T6B | Davies Industrial East, Eastgate Business Park, Girard Industrial, Kenilworth, Lambton Industrial, Morris Industrial, Northeast Edmonton, Pylypow Industrial, Roper Industrial, Southeast Edmonton | $2,137 |
| T6C | Avonmore, Bonnie Doon, Cloverdale, Coronet Addition Industrial, Holyrood, Idylwylde, King Edward Park, South Central Edmonton, Southeast Edmonton | $2,137 |
| T6P | Maple Ridge, Maple Ridge Industrial, Southeast Edmonton | $2,126 |
| T6S | Clover Bar Area, Northeast Edmonton | $2,126 |
| T6A | Capilano, Eastgate Business Park, Forest Heights, Fulton Place, Gold Bar, Northeast Edmonton | $2,115 |
| T5M | Alberta Park Industrial, Garside Industrial, High Park Industrial, Huff Bremner Estate Industrial, Inglewood, Jasper Place, Northwest Edmonton, West Edmonton | $2,100 |
| T5N | Crestwood, Glenora, Grovenor, North Central Edmonton, West Edmonton | $2,100 |
| T5P | Britannia Youngstown, Canora, Glenwood, Jasper Place, West Edmonton | $2,100 |
| T5R | Elmwood, Jasper Park, Jasper Place, Laurier Heights, Meadowlark Park, Parkview, West Edmonton | $2,100 |
| T5S | Armstrong Industrial, Edmiston Industrial, McNamara Industrial, Morin Industrial, Northwest Edmonton, Place LaRue, Stone Industrial, West Edmonton | $2,100 |
| T5T | Belmead, Callingwood South, Glastonbury, Summerlea, Terra Losa, West Edmonton | $2,100 |
| T6E | Coronet Industrial, Davies Industrial West, McIntyre Industrial, Papaschase Industrial, Queen Alexandra, Rosedale Industrial, South Central Edmonton, Southeast Edmonton, Strathcona Junction | $2,100 |
| T6G | Garneau, McKernan, South Central Edmonton, University of Alberta | $2,100 |
| T6H | Allendale, Brander Gardens, Calgary Trail North, Empire Park, Lendrum Place, Pleasantview, Southwest Edmonton, Strathcona Junction | $2,100 |
| T6K | Ekota, Kameyosek, Lee Ridge, Menisa, Meyonohk, Michaels Park, Mill Woods Town Centre, Richfield, Satoo, Southeast Edmonton | $2,100 |
| T6L | Bisset, Crawford Plains, Daly Grove, Greenview, Jackson Heights, Kiniski Gardens, Meyokumin, Mill Woods Town Centre, Minchau, Pollard Meadows, Sakaw, Southeast Edmonton | $2,100 |
| T6M | Donsdale, Gariepy, Jamieson Place, Oleskiw, Rural West, The Hamptons, Wedgewood Heights, West Edmonton | $2,100 |
| T6N | Edmonton Research and Development Park, Parsons Industrial, South Edmonton Common, Southeast Edmonton | $2,100 |
| T6R | Bulyea Heights, Carter Crest, Falconer Heights, Haddow, Hodgson, Leger, MacTaggart, Magrath Heights, Rhatigan Ridge, Southwest Edmonton | $2,100 |
| T6W | Ambleside, Blackmud Creek, Heritage Valley Area, Rutherford, Southwest Edmonton | $2,100 |
| T6X | Ellerslie, Ellerslie Industrial, Southeast Edmonton | $2,100 |
| T6J | Blue Quill, Calgary Trail South, Duggan, Ermineskin, Greenfield, Keheewin, Rideau Park, Skyrattler, Southwest Edmonton | $1,940 |
| T6T | Larkspur, Laurel, Silver Berry, Southeast Edmonton | $1,940 |
Source: RATESDOTCA Insuramap
The cheapest car insurance in Edmonton
The cheapest car insurance in Edmonton can be found in the T6T and T6J postal code areas at $1,940 per year. The neighbourhoods within these areas include Larkspur, Laurel, Silver Berry, Southeast Edmonton, Blue Quill, Calgary Trail South, Duggan, Ermineskin, Greenfield, Keheewin, Rideau Park, Skyrattler, and Southwest Edmonton.
Use InsuranceHotline.com to find an insurance provider who can get you the cheapest car insurance quote.
Compare quotes and save on Edmonton auto insurance
Shopping around is not the only way to find affordable auto insurance in Edmonton, but calling individual companies for comparative quotes can take a long time.
This is where InsuranceHotline.com can help. Answer a few questions about your driving experience, and we will show you multiple quotes in one place. Comparing cost and coverage has never been so simple.
Our service is free, and last year, drivers in Alberta who compared quotes on InsuranceHotline.com saved an average of $727.*
Automobile drivers in the big cities of Alberta end up paying way more for car insurance than ones in smaller cities, with Edmonton being the second most expensive city for insurance after Calgary. It costs Edmonton drivers $412 more per year than the cheapest car insurance cities like Sylvan Lake, Red Deer and Medicine Hat.
To fairly compare cities, we used the same driver profile to pull quotes: a 35-year-old man driving a 2018 Honda Civic with a conviction and claims-free insurance record.
| City | Geographic designation/population size | Premium |
|---|---|---|
| Calgary | Large urban / 1,372,178 | $2,230 |
| Edmonton | Large urban / 1,057,181 | $2,124 |
| Airdrie | Medium / 77,027 | $2,000 |
| Lloydminster | Medium / 20,204 | $1,849 |
| Okotoks | Medium / 31,413 | $1,849 |
| Grande Prairie | Medium / 67,627 | $1,806 |
| Lethbridge | Medium / 101,799 | $1,780 |
| Stony Plain | Small / 18,371 | $1,724 |
| Morinville | Small / 10,442 | $1,724 |
| Medicine Hat | Medium /65,203 | $1,722 |
| Red Deer | Medium / 104,392 | $1,712 |
| Sylvan Lake | Small / 16,354 | $1,712 |
Source: Statistics Canada
Factors that determine your Edmonton car insurance rate
Edmonton drivers can see their auto insurance change or be different from others depending on their driving expertise, claims history and more. These factors affect car insurance premiums:
- Driving experience: New or young drivers pay more for car insurance than more experienced drivers. Creating that experience by driving with a clean record, few to no tickets, and a few years without accident claims will indicate to insurance providers that you are a "good risk." This will drive down your car insurance rate over time.
- Location: It's true in real estate, and it's true for drivers. Where you live makes a difference. Higher-density areas with more traffic (and the possibility for more accidents/claims) will lead to higher insurance premiums. Some areas are deemed more likely to file claims if there are risks such as higher crime rates.
- Driving habits: Premiums will vary depending on your driving needs. For example, your rates will fluctuate if you are a long-distance commuter versus a short-trip diver. In other words, the more you drive, the higher your rates are likely to be.
- Vehicle type: Just like not all drivers are created equally, the same goes for cars. Vehicles with greater safety features may allow you to reduce premiums. However, luxury cars can also be more expensive to repair, affecting car insurance rates. Also, a souped-up vehicle with aftermarket accessories can change the rates you pay for car insurance. The vehicle's make and model (and year) can also affect the rate of insurance you will pay.
- Gender: Unfortunately for younger males, gender plays a role in how insurance providers assess risk. Inexperienced, younger male drivers have usually deemed a higher risk than other drivers. Younger female drivers are considered less risky and will likely pay lower insurance rates.
- Your provider: Rates can fluctuate depending on your provider and if you have a history with them. Some offer bundled packages with other insurance or have different plans depending on your driving needs.
What can I do to get cheaper car insurance in Edmonton?
While comparing quotes is the best way to find cheaper insurance in Edmonton, theres more you can do to drive the price down.
Increase your deductible
Most Edmontonians have a $500 deductible, but if you are willing to increase it to $1,000, you can save up to 10%.
Pay your premiums annually
Pay your premiums annually, in one lump sum, to avoid administrative fees associated with monthly payments.
Bundle your policies
Save up to 15 % when you buy home insurance from the same company that covers your car. If you rent in Edmonton, you can bundle car insurance with tenant insurance for similar savings.
Insure all cars together on the same policy
If you have more than one vehicle, save up to 20 % by insuring them on the same policy.
Review your policy annually
Each year, review your details and any optional coverages as listed on your policy. If you have moved jobs and commute less than before for example, a reduced annual mileage will lower your rate.
Ask about discounts
Ask your provider about any group discounts they offer. The most popular association discounts for Edmonton drivers are for the University of Alberta Alumni Association, NAIT, NAIT Students, MacEwan University, AUPE and University of Alberta Students.
Change your tires seasonally
Winters in Edmonton are notoriously cold and freezing, and wintry conditions inevitably lead to a spike in car accidents. Insurance companies will reward you with a discount of up to 5% if you have winter tires.
Go to school
Young drivers (under the age of 25) are a high-risk demographic for insurance companies and pay the most for coverage. Insurers will offer better rates to young Edmontonians who complete an accredited driver's training course.
Real Edmonton drivers, real Edmonton auto insurance savings
Just a few examples of custom savings for drivers based in Alberta.
Savings: $516
Driver: Male, 35
From: Edmonton, Alberta
Driving: 2014 Ford Fusion
Savings: $567
Driver: Male, 29
From: Edmonton, Alberta
Driving: 2017 Hyundai Tucson
Savings: $325
Driver: Male, 42
From: Edmonton, Alberta
Driving: 2013 Ford Escape
Savings: $504
Driver: Male, 40
From: Edmonton, Alberta
Driving: 2015 RAM 1500
Savings: $550
Driver: Female, 38
From: Edmonton, Alberta
Driving: 2016 Audi TT
Savings: $419
Driver: Female, 31
From: Edmonton, Alberta
Driving: 2010 Honda Civic
Frequently asked questions about auto insurance in Edmonton (FAQs)
Here are some of the most frequently asked questions from drivers in Edmonton:
Why do I need car insurance in Edmonton?
Drivers in Edmonton cannot legally operate a vehicle without owning car insurance. Basic coverage (third-party liability and accident benefits) is required by law to ensure that you have adequate protection in the event of an accident, regardless of who is at fault.
Why does Edmonton car insurance cost so much?
Edmonton is one of the largest cities in Canada with a metro population of over 1.13 million (as of 2022). Bigger cities have higher insurance premiums than rural areas due to a higher rate of collisions and auto theft.
How can I find the cheapest car insurance in Edmonton?
Several factors determine what your car insurance is going to cost you. Factors like your choice of vehicle, driving patterns and history and the place you live can increase or decrease your auto insurance premium. Compare multiple auto insurance quotes and comparables on InsuranceHotline.com before zeroing in on one.
Who offers the cheapest auto insurance in Edmonton?
Find out who offers the cheapest auto insurance in Edmonton by shopping around. At InsuranceHotline.com you can compare auto insurance premium quotes by different insurance providers and make an informed choice of what’s best for you.
Why do Edmonton car insurance rates change over time?
Several factors play a role in increasing or decreasing your auto insurance. Edmonton drivers must consider the following factors when applying for auto insurance:
- Where you live: Drivers who live in downtown Edmonton can expect to pay more than those who live on the rural outskirts.
- Driving history and pattern: Staying accident and claims free is the best way to get cheaper insurance. According to internal data, 83.69% of Edmonton drivers have had no accidents in the past 10 years.
- Time spent on the road: Less time spent driving means less chance of an accident. Use public transport and save up on your auto insurance. If you drive hundreds of kilometers everyday get ready to pay more than someone who drives occasionally.
Compare quotes and save on Edmonton auto insurance
Shopping around is the only way to find affordable auto insurance in Edmonton but calling companies individually for quotes takes a long time.
This is where InsuranceHotline.com can help. Answer a few questions about your driving experience and we will show you multiple quotes on one place. Comparing cost and coverage has never been so simple.
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