Car Insurers Could Save Up To $745 Million in Alberta In 2020 Because Of Covid-19 Pandemic

$ 745,209,299 the estimated amount of savings on payouts realized by the car insurance companies in Alberta in 2020 because of the Covid-19 restrictions, as most drivers had to stay home large parts of the year across the province.

Car Claims Drop In


Savings made by Canadian car insurers during restriction measures


Annual average car insurance premium


28.1% drop in car accidents across Alberta

With most Canada's provinces facing restriction measures during spring and again in autumn / winter, many Canadians were forced to stay at home. As a consequence, many daily commutes came to a halt, meaning fewer people on the roads, and a lower probability of accidents occurring. That's confirmed by the numbers :

decrease in car accidents

...across the Albertan territory

decrease in car-related claims

...due to low traffic on Alberta's roads

$231 million

...only in the city of Calgary

Calgary, on top of the cities where savings are the highest

A majority of road traffic accidents usually happen in dense urban areas. It is therefore no surprise to see that the biggest cities are those where car insurance savings on payouts have been highest:

CitiesDecrease rate (2019-2020)Estimated car insurance savings in 2020
Red Deer31.20%$18,111,388
St. Albert31.53%$11,954,752
Medicine Hat31.05%$11,354,718
Grande Prairie30.48%$11,129,712
Spruce Grove31.14%$6,132,327
Fort Saskatchewan31.05%$4,334,573
Cold Lake26.25%$2,270,260
Car insurance savings across Alberta in 2020 (HelloSafe estimates)

On a national scale: 32.9% fall in car-related claims across Canada, $6.7 billion saved

As a consequence of accident numbers decreasing on the roads, the car-related claims rate has dropped by - 32,9% overall on the Canadian territory . With a 35.1% decrease rate observed, Ontario is the State where car claims have decreased the most, just in front of British Columbia (- 34%) and Quebec (- 33.6%). On the opposite, Nunavut (12%), the Northwest Territories (11.2%) and Yukon (7.8%) were less affected by the governmental restrictions, and are the regions where claims decreased the less.

Car insurance savings per province (8 most populous provinces)

Overall, insurance companies in Canada could have actually saved up to $6.7 billion thanks to the change in driving habits caused by restriction measures.


Antoine Fruchard, insurance expert and CEO at

With most people stuck at home, their cars have inevitably stayed in the garage. Indeed, customers are inevitably questioning why they continued to pay such high insurance premiums while they weren’t able to drive. It will be interesting to see if all the insurance companies will make refunds, and which forms will take those refunds. Competition on the market should increase in the coming months, and that means customers should benefit from a slight drop in car insurance premiums. However, in certain provinces, the presence of (almost) car insurance monopolies is problematic, not allowing policyholders to benefit from a diverse offer which would result in lower premiums for them”.

Our methodology

We based our study on public information provided by reliable data-providers and several insurance partners who provided us anonymously with claims for the studied period.

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