What is The Best Car Insurance in Edmonton for 2023?
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Discover the methodologyIn December 2022, 91.4% of all vehicle sales in Edmonton were pick-up trucks. Yes, Edmontonians love their trucks. In fact, in most years, more than half a million trucks are registered in Edmonton. And with a new truck comes insurance. Everywhere in Canada, insurance is mandatory, but getting the most basic insurance will do little to really protect you and your car, truck or otherwise.
Do you have the best insurance your wallet can buy? If you get into an accident, how much will it cost you out of pocket? What if you could pay less?
In this guide, you will find out all there is to know about car insurance in Edmonton: what it covers, tips to save money, cheap car insurance for new drivers, where to get free car insurance quotes in Edmonton and the best car insurance for you.
Compare Alberta Car Insurance Quotes
How does car insurance work in Edmonton?
If you own a car in Edmonton, you must insure it through a private insurance company. Alberta’s auto insurance system is private, which means drivers in Edmonton must get their car insurance from private companies as opposed to a Crown company as is the case in some other provinces.
Auto insurance rates in Edmonton are regulated by the Albertan government. So, if you get into an accident, car insurance companies in Edmonton must at least pay to repair or replace your car, pay for your medical care and compensate for any injuries or damages the accident caused, regardless of who’s at fault.
The Alberta Automobile Insurance Rate Board (AIRB) is the regulatory body of auto insurance ratings across Alberta. A grid establishes a maximum of how much insurance companies can charge drivers for auto coverage. The better your driving history, the lower you will be on the grid and the less you will pay for the same coverage.
Good to know
Alberta made direct compensation property damage (DCPD) mandatory in 2022. If you do get into an accident, your insurer has to pay to repair your car if you were not responsible for the accident. Albertans can also sue for loss of income that exceed their policy limits.
What does car insurance cover in Edmonton?
In all of Alberta, basic automobile insurance (accident benefits and third-party liability) is required by law. This must cover:
Accident benefits coverage
- If you are injured in an accident regardless of who is at fault
- Medical staff involved in the accident: medical care, rehabilitation and auxiliary care services
- Income replacement
- Funeral expenses
- Surviving spouses and dependents
Third-party liability
- Material damage and bodily injury caused to others by your fault
- Legal fees and damages that derive from the accident
Expert advice
The minimum mandatory amount of third-party liability coverage is $200,000. However, insurance experts recommend coverage of at least $1 million to stay protected.
Although the most basic insurance may be appealing to your budget, it might not protect you much when you get into an accident. The best car insurance in Edmonton includes the following add-ons to be best protected:
- Collision: This option protects you if you collide with an object while driving your vehicle. Adding this option to your policy covers any property damage caused by this accident. For example, if you hit a traffic sign or back up into a low wall, you will be covered by collision insurance.
- Comprehensive: Comprehensive insurance protects you from anything that is not a crash. It covers anything from vandalism, glass breakage, theft, and bad weather. If you park your vehicle on the street and when you come back, someone or something has broken your window, this option will keep you protected.
- Specified Perils: This covers you for risks that you have specified in the insurance contract. For example, you can include coverage for glass breakage but not vandalism, or theft but not fire. If you’re looking for cheap car insurance in Edmonton while still being protected against the largest risks, this option might be worth considering.
- All-risk car insurance: As a combination of all other coverages, this option offers maximum protection. The deductible is the same for all damages. You will thus be protected for all incidents beyond your control, such as vandalism, but also for incidents resulting from a road accident, collision with an object or flipping your vehicle. Naturally, all-risk insurance is the most expensive.
Expert advice
Alberta averages 65 reports of extreme hail per year. The province is known for its destructive summer storms with each causing millions of dollars in damage to vehicles, and Edmonton is no exception. Comprehensive insurance or specified perils insurance will keep you protected from any severe weather.
Insurance companies may offer other particular coverage options but remember it is always worth comparing different companies to get the best car insurance in Edmonton at the right price. Regardless of the type of auto insurance you need, you can use this comparison tool to get free car insurance quotes in Edmonton.
Compare Alberta Car Insurance Quotes
How much is car insurance in Edmonton?
The price of Edmonton car insurance hinges on many factors. How much you pay and what is covered will depend on the policy you purchase and your personal details. The average car insurance in Edmonton is about $1,427 yearly ($118.92 per month), almost as high as car insurance in Calgary. Although the price varies depending on multiple elements, 2 main factors determine how much you pay: you and your car.
After insurance providers determine a base premium covering any claims and bills and leaving some margin for profit, they calculate the amount of risk you carry as a driver based on your driver training, the number of years you’ve had your license, how many accidents and traffic incidents you’ve had and where you live.
Good to know
Edmonton car insurance companies will have a higher car insurance rate than someone living in the countryside. Cities have more vehicles, which means more accidents, and an increased risk of theft and vandalism. All this pushes the monthly insurance premiums up.
Finally, insurance providers consider your car. Your car’s make and model influence your premium. More recent cars cost more to repair so insuring them is more expensive. Also, if your car model is a common target of theft, your premium will also increase.
Expert advice
Cars with more safety features often include many sensors to perceive danger and protect you, but more sensors also mean more potential repairs. The cheapest car insurance in Calgary is for an older, simpler model.
Here is an Edmonton car insurance quote for a 40-year-old man without any claim history, driving a 2018 Ford F-150 base model, one of the most common vehicles in the city, using RBC car insurance in Edmonton:
| Includes: | Basic coverage $1,000,000 limit | Collision, Theft, and Windshield coverage | Loss of Use ($1,000) | All Perils |
|---|---|---|---|---|
| $96.34/month ($1,156.08/year) | ||||
| $220.92/month ($2,651.04/year) | ||||
| $223.84/month ($2,686.08/year) | ||||
| $348.42/month ($4,181.04/year) |
Ready to get free car insurance quotes in Edmonton for your vehicle and circumstances? It's easy.
Compare Alberta Car Insurance Quotes
What is the cheapest car insurance in Edmonton?
The cheapest car insurance in Edmonton might still seem expensive to many because car insurance in Edmonton is one of the highest in Alberta, and even Canada. As a bustling city, Alberta’s capital has more cars and traffic which means higher risks of collision, injury and theft. Edmonton auto insurance companies must increase their premiums to cover their costs and still make a profit. However, there are ways to get cheap car insurance in Edmonton that suit your needs.
The first thing to think about when looking for the cheapest car insurance in Edmonton is your vehicle. Auto insurance costs the least for minivans and station wagons.
Good to know
Your deductible largely influences how much you pay each month. A higher deductible means more money in your wallet at the end of the month. If you want cheap auto insurance in Edmonton, then consider having a high deductible. However, keep in mind that if you get into an accident, you’ll have to pay any deductibles out of pocket before your coverage kicks in.
Every driver is different, so Edmonton car insurance quotes might look very different from person to person. Because of that, it is hard to pick one company that offers the cheapest rates on car insurance in Edmonton. Instead, it’s always best to shop around and use the comparison tool above to get the best rates for your specific case.
To help you get a good idea of what’s offered, here are some key takeaways from the best car insurance reviews in Edmonton:
Aviva car insurance in Edmonton
- 15% discount if your vehicle has an Automatic Emergency Brake system
- 20% off on multiple-vehicle insurance
- $0 drop after 5 years of accident-free driving
- 15% discount if you avoid driving convictions for 3 years
RBC car insurance in Edmonton
- Multi-car insurance discount
- Anti-theft system discount
- RBC car and home insurance bundle
- Discounts for electric or hybrid vehicles
- Retiree-friendly rates
- Winter tires discount
TD car insurance in Edmonton
- Discount for 2 or more vehicles with TD insurance
- Student discount
- TD car and home insurance bundle
- Discounts for electric or hybrid vehicles
- Retiree-friendly rates
- Winter tires discount
AMA car insurance in Edmonton
- AMA MyRide app discount
- Loyalty discount after 4 years
- AMA member discount
- Special claims-free rate
- Free accident forgiveness for home and car insurance bundle
My Choice: Edmonton car insurance in 2-minute
My Choice is our favourite comparison tool for comparing Alberta car insurance quotes. It takes the guesswork out of buying insurance by offering information transparency and personally-tailored insurance quotes.
Getting quotes is quick and easy with a 2-minute form.
Our team got instant quotes from six insurers ranging from $76.92 to $184.33 for a 38-year-old man with a 2018 Toyota Yaris. Additional brokers followed up by email. On-page options let buyers quickly change deductibles and recalculate rates. While less customizable than some competing comparison tools, we appreciate the ease of use and getting multiple quotes in one place.
What car insurance company is best for young drivers in Edmonton?
If you are looking for cheap car insurance for new drivers in Edmonton, exploring different companies, coverages and specific options will yield the best results. By comparing several companies and policies, you can ensure that you get the cheapest auto insurance in Edmonton while still getting the coverage you need.
Compare Alberta Car Insurance Quotes
Alternatively, you can speak with an insurance agent. Agents will know the products of one company inside and out. However, they can only suggest products from the insurance company where they work. If you already have an insurance policy, home insurance, for example, that company’s agent might offer you a car and home insurance bundle discount, a common practice in Edmonton. The catch is that the deal they offer you might not be the lowest-priced car insurance in Edmonton that fits your needs, even factoring in the discount.
Young drivers can also look for a car insurance broker in Edmonton. The upside of this option is that brokers can offer products from more than one company because they are independent. Brokers also tend to know insurance well. However, they only ever work with a few insurers, and it can be difficult to understand which companies they partner with. Also, they may charge you for their services.
Ultimately, it’s easy to get free online car insurance quotes in Edmonton without leaving the comfort of your home.
9 tips for getting cheaper car insurance in Edmonton
- Shop and compare companies and policies to get the best deal! The single most effective way to get the best Edmonton auto insurance for you.
- Think about insurance before buying a car: Insurance costs differ from car to car. The car's make and model will impact the premium. Before you buy a vehicle, look up which cars are the cheapest to insure.
- Bundle your policies: You could easily get a discount if you buy car and home insurance from the same insurer.
- Have a good driving record: The better you drive, the less you pay!
- Install a telematic device: This instrument will register your driving behaviour and your car insurance premium will be adapted to your kind of driving. If you’re a safe driver, and you want to save money on your car insurance, this option will get you the best auto insurance in Edmonton.
- Choose the right coverages: For example, if you drive a really old car, maybe you don’t need the best add-ons like comprehensive coverage.
- Pay annually: This will avoid paying the rate fees to pay monthly. If it fits your budget, it’s worth it because you pay less overall.
- Consider security: Most insurers reward you with low insurance rates if you install safety features on your car!
- Increase your deductible: Most insurance policies include deductibles you must pay before the insurance coverage kicks in. If you choose a low deductible, your car insurance premium will be higher. So choose a high deductible if you want to lower your car insurance premium! But make sure you can afford a higher deductible. Depending on your budget, a higher monthly premium may be worthwhile.
Do rental moving trucks need extra insurance in Edmonton?
As Alberta’s fastest-growing community, The Oil Capital of Canada welcomes many newcomers each year. With moving to Edmonton comes rental trucks. Many people choose to rent a van or truck themselves when moving into a new home, decidedly an effective cost-saving trick. But one thing many people fail to think about in these situations is rental insurance.
Many personal car insurance policies do not cover rental vehicles over a certain weight, and sometimes they exclude rental trucks specifically. Car rentals are commonly covered, but trucks or vans for moving might not be.
It is definitely worth it to check your policy before you choose a rental moving truck in Edmonton because you might want to negotiate extra rental insurance as a part of the rental contract.
Commercial car insurance in Edmonton
Commercial auto insurance is different from personal car insurance. Commercial car insurance is a type of business insurance designed to cover people and vehicles used in a professional context. For example, if you use your car as a taxi or with Uber to provide delivery services or even to give driving lessons, then you might need commercial car insurance.
Insurance is there to protect you (and your wallet!) against the specific set of risks you face as well as the kind of vehicles you are using. That’s why it’s so important to get an insurance policy that’s adapted to your situation. Be it truck insurance, commercial truck insurance or motorcycle insurance, getting the right insurance for your car in Edmonton is easy.
Protect your business vehicles for less
Hi,
I will like to know the best and most competitive cost for my car insurance.
Alexandre Desoutter Our expert
Hi Zora,
You can use our car insurance comparison tool to find the best plan for you.
Have a nice day,
The HelloSafe team
If you are retired and you car is 8 years old what car insurance coverage you must obtain.
Alexandre Desoutter Our expert
Hi Bill,
You can check our car insurance comparator to find the best contract for you.
Have a nice day,
The HelloSafe team