What is The Best Car Insurance in Edmonton for 2023?

Looking for the best car insurance in Edmonton? The cheapest one too? Perfect, you’ve come to the right place!

In this guide, we will tell you everything you need to know about car insurance in Edmonton: cover features, tips to save money as well as cheapest car insurance companies for your car in Edmonton.

Let’s dive in!

How does car insurance work in Edmonton Alberta?

In Edmonton, from the moment you own a vehicle, you must insure it through a private insurer. Rates are regulated by the Alberta government.

In Alberta they use a grid rating program to establish the maximum premiums drivers should pay for their basic coverage (third party liability and accident benefits). The lower you are on the grid program, the less you will pay for you car insurance premium. The other coverages that are optional depend on the insurance company rates.

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What is the average car insurance coverage in Edmonton?

In Edmonton, there are several car coverages that are mandatory by law:

• Third-party liability. It covers you for:

• Material damage and bodily injury caused to others by your fault.
• The minimum mandatory amount is $200,000.

• Accident benefits coverage. This insurance provides protection for bodily injury and:

• Covers you if you are injured in an accident regardless of who is at fault.
• Covers the medical staff involved in the accident: medical care, rehabilitation and auxiliary care services.
• Covers income replacement.

Here are the most common options you can add to your car insurance to be best protected:

• Collision car insurance: This auto insurance protects you in the event of a collision of your vehicle with an object, which can also be the rollover of your vehicle. This insurance covers property damage caused by this accident. For example, if you hit a traffic sign, you will be covered by collision insurance. This coverage is not mandatory.

• Comprehensive car insurance: This insurance protects you for anything that is not collision or upset, as the name suggests, therefore for anything that is vandalism, glass breakage, theft, fire. If you park your vehicle on the street and when you come back, one of the windows has been broken, you will be able to use this insurance if you have subscribed to it. It is possible to make car insurance estimates to see how much you want to be insured up to.

• Specified Perils Auto Insurance: It covers you for risks that you have specified in the contract. For example, you can mention glass breakage but not include vandalism, theft but not include fire.

• All-risk car insurance: This insurance is a combination of all other insurances: collision, payout and collision free. The deductible is the same for all damages. You will thus be protected for all incidents beyond your control (vandalism, theft, fire) but also for incidents resulting from a road accident, collision with an object, or the overturning of your vehicle.

Here are some additional options you could add to your car insurance in Edmonton, most of the car insurance companies propose this:

Options	Explications	Availability in Edmonton
Leased vehicule	Your rental vehicle will be insured in the same manner as your insured vehicle(s).
Accident Forgiveness	Your first accident won’t increase your car insurance premium
Replacement value for total loss	Also known as replacement value, your insurer will compensate you based on the purchase value of the vehicle without taking depreciation into account.
Alternate Transportation Benefits	Also known as loss of use of the vehicle, this covers the cost of rentals, transportation, cabs that you had to take during the period when you were unable to use your vehicle.
Emergency roadside	If you are out of gas, stuck, have a cracked wheel, the road assistance is there for it.
Family protection	Important endorsement. Helps you or your family in case of injury if the other driver at fault is under insured.

What is the cheapest car insurance in Edmonton?

Let's find out what are the cheap car insurances in Edmonton:

Cheapest car insurance	Discounts	Review
TD car insurance Edmonton	Antitheft discount Retiree discounts Winter tires discount	TD car insurance is expensive compared to others One of the best car insurance in Edmonton: all the basics are provided, as well as options.	$225.75/month
Allstates car insurance Edmonton	Good Student Driver Discount Retiree discount	Well known insurance company Interesting options and coverage All car insurance basics provided	$115/month

How to get car insurance quotes in Edmonton?

There are many options for car insurance companies in Edmonton: TD car insurance, RBC car insurance, Desjardins car insurance or AMA car insurance, amongst many other... Thus, drivers in Edmonton can get a quote through car insurance brokers, agents or directly from an insurer.

When you request a car insurance quote, you will need:

• The vehicle’s make and model
• Your VIN (vehicle identification number)
• Your Social Insurance Number
• Driver’s license
• Your previous insurance (if any)

When purchasing insurance it is important to compare because companies sometimes give very different rates. You should consider if you want to add collision or upset and comprehensive coverage in addition to the mandatory insurance. Beyond that, there are many endorsements to enhance your car insurance policy. If you have a new vehicle you might like a waiver of depreciation which reimburses you for the purchase value of your new vehicle if it is declared a total loss in the first 24 months you have it.

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What are the best car insurance discounts in Edmonton?

Edmonton auto insurers offer many discounts to save money on your car insurance. Here are some of the best known:

• Group Discount: You can benefit from a discount if you are part of a group, this can be members of an association, employees of the same company etc.

• Discount for experienced drivers: You can get a discount if you have a good driving record and are over 50 years old.

• Discount for combined policies: You can get a discount by combining your car and home insurance for example, the discount is often between 5 and 15%.

• Young Driver Discounts: Many insurers offer discounts for young drivers because car insurance premium for young people is quite high. In Edmonton, there a lot of students, due to their university: Concordia University of Edmonton, King's University, MacEwan University... This kind of discount makes cheap car insurance in Edmonton possible for new drivers.

• Discount for winter tires: It’s snowing in Edmonton! That’s why insurers often offer a discount if you add snow tires to your vehicle.

• Retiree discount: You may be eligible for a 15% discount on Accident Benefits.

• Renewal Discount: Your loyalty can be rewarded by some insurers, if for example you have been with them for many years without having caused any accidents. You may also be eligible for other discounts depending on the auto insurers in Ontario.

• Low mileage discount: If you drive under a certain distance every year, you'll get a discount and pay less than the average cost of car insurance.

• Adding security to your vehicle.

How much is car insurance in Edmonton?

The price of car insurance in Edmonton depends on multiple factors:

• Your age and sex.

• Your driving record (i.e. your driving history).

• The place where you live: it won’t be the same thing if you live in a city or in the countryside!

• The type of vehicle you drive: Depending on the vehicle you drive, your premium will increase or not. If it is a really a model that can be easily stolen, your premium will get higher. If you drive one of the most stolen cars, it is quite sure that your premium will tend to be higher.

• The use you make of your vehicle: are your journeys to and from work daily, for example? Do you use your vehicle for business purposes?

• The number of people insured on your car insurance and their driving level.

• The date you obtained your driver’s license.

• Third party liability: did you choose $1,000,000 third party liability? More? Less? This changes your premium a lot!

• The optional coverage: did you add accident forgiveness for example? Roadside assistance? Same, this impacts your premium.

On average though, Edmonton car insurance rates are at about $1,316 per year, which is really high.

Why is car insurance in Edmonton so expensive?

Edmonton is not known to have the most expensive car insurance premium in Alberta, but still Edmonton is a really expensive city. Edmonton premium car insurance is higher because:

• Car theft: Edmonton is facing issue with auto theft. In 2019, more than 3,500 vehicles were stolen.

• Bad drivers: Driving and texting is known to be an issue in Edmonton, so is drunk driving...

• Be aware in Edmonton: the weather can be bad and there are a lot of highway (i.e. Highway 14, Highway 216, Highway 2, Highway 28...).

Average price of car insurance in Edmonton is $1,300 per year, which is really high.

9 ways to get cheap car insurance Edmonton

Here 9 tips so save on your car insurance in Edmonton!

• Bundle your policies: You could easily get a discount if you buy your home and car insurance at the same insurer.

• Shop and compare to get the best deal!

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• Choose the right amount of deductible: If you choose a low deductible, your car insurance premium will go high. So choose high deductible if you want to lower your car insurance premium!

• Choose the right coverages! For example, if you drive a really old car, maybe you should’t have a very complete car insurance. You could even get a temporary car insurance if you don't plan on dricing / owning a car an entire year. Although this kind of contract remains rathe rare in Canada.

• Pay annually: this will avoid to pay the rate fees to pay monthly.

• Security-device: you should install safety devices on your car, you could enjoy discounts!

• Have a good driving record: the best you drive, the lower you’ll pay!

• Install a telematic device: this tool will register your driving behavior and your car insurance premium will be adapt to your kind of driving. So, if you’re a safe driver, and you want to save money on your car insurance, go for it!