Overview
The increasing cost of repairs, parts shortages and rising auto thefts are all driving up insurance rates across Canada. But the single biggest reason for the increase in Alberta is the increasing costs of personal injury claims.
Alberta’s government asked independent experts to look at systems that could reduce the costs of auto insurance and improve the sustainability and stability of the insurance industry.
Oliver Wyman focused its work on comparing average premiums under different existing auto insurance systems, largely across Canada. The Nous Group examined the broader costs and benefits of these different auto insurance models. No decisions have been made on the changes that will be made to Alberta’s auto insurance system. These reports will be used to inform future engagements and policies.
Read the report: Auto Insurance Changes in Alberta (includes the Oliver Wyman and Nous Group studies)
Previous updates
Get the best rate
There are steps you can take to make sure you get the best auto insurance rates.
Alberta’s Automobile Insurance Rate Board also has more information on getting the best auto insurance rates: 10 ways to reduce your rates
Previous reforms
News
- Have your say on auto insurance (April 26, 2024)
- Good drivers to benefit from auto insurance changes (November 1, 2023)
- Taking action on insurance (January 26, 2023)
- Relief for Alberta drivers (October 29, 2020)
- Auto insurance reform seeks public input (February 18, 2020)
- Advisory committee to address automobile insurance (December 18, 2019)