Car Insurance Edmonton – For drivers with excellent driving records, ARC Insurance Brokers is the best choice for getting car insurance quotes in Edmonton, Alberta.
If you’ve worked hard to maintain a clean driving record, ARC Insurance Brokers is your best choice for car insurance in Edmonton. Our insurance agents are ready to provide you with the best insurance rates and best service you can expect from our experienced professionals. Here are some reasons why new clients join us every day:
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We are here to save you money. Because we serve you as an independent insurance broker, we can obtain a wide range of home and auto insurance quotes from Alberta’s leading insurance companies, often finding significant savings with the same or better coverage.
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We will work for you. With flexible payment plans and a 24-hour claims service, our clients have peace of mind knowing that when you need your broker, we’re there for you.
Quotes are quick, easy to complete and secure. Whether you prefer to speak directly with a broker or complete one of our online forms, our agents are ready to provide you with fast, accurate auto insurance quotes for multiple companies. You can get fully insured and on the road within just 15 minutes of your first contact with our company.
Your auto insurance is basically a contract with your auto insurance company to protect you against losses in the event of an accident, fire, theft, vandalism, hail, or any other event that causes damage, liability, or injury to your vehicle. As part of the contract, you agree to pay an amount to the insurance company and in return, the company agrees to indemnify you against financial losses due to certain risks arising from your ownership and day-to-day management. trolley
Vehicle insurance is required by law. Alberta laws require that all vehicles on the road have financial coverage if the owner or operator of the vehicle causes injury or damage as a result of operating the vehicle. In addition, there are additional mandatory “no-fault” coverages to protect those injured in a car accident.
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Car insurance protects you from catastrophic financial loss. If you don’t have the right coverage, the risk can be financially crippling. Here are some examples of expenses arising from an auto insurance claim: bodily injury and property damage that you caused to another person, bills for medical treatment and physical rehabilitation, the cost of repairing or replacing your own vehicle, and fees for towing and rental vehicle coverage while your claim is settled.
Yes. In Alberta, you must have at least PLPD (Personal Liability and Property Damage Insurance) to be able to drive legally. Additional types of coverage are optional.
We recommend that you review your policy annually with your broker to ensure that your insurance coverage meets your needs. You should also contact your broker to update your policy if there are any significant changes, including if you:
Generally, yes, if the person driving your car has your consent to do so (called “permitted use”), does not live at home, and does not have regular access to the car (bar, for example, a designated driver drives you home on some Sometimes). For those who live at the same address or have regular access to your vehicle, the matter is more complicated and requires full and honest disclosure to your broker to ensure you are properly covered. What is the average cost of car insurance for Canadians? The average amount Canadians pay for car insurance varies from province to province. For example, drivers in Ontario and British Columbia can expect to pay twice what they pay in Quebec and Prince Edward Island.
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So, what is the average cost of car insurance you can expect to pay, and why? Here are the average rates for each county across the country:
Legally, you need insurance to stay on the road – to protect you and others. As Canadians, we pay a significant amount for this protection depending on your province and other factors (age, driving record, car model, etc.).
Unfortunately, car insurance rates are on the rise, and for many people, obtaining coverage has never been more difficult from an affordability standpoint. Let’s take a look at the difference between average auto insurance rates across Canada, examine where rates are rising and see if there is hope of reversing the trend.
Please note: IBC calculates the average premiums in each county by dividing the total premiums for each county by the total number of individual vehicles for each county.
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Let’s start with the bad news first. Drivers in Canada’s most western provinces pay the highest insurance rates in Canada, at an average of $1,800 per year. That’s more than $700 more than in 2015 – a 63% increase in less than five years! Unlike other provinces, insurance in British Columbia is regulated by the Crown Corporation (ICBC), so if you don’t like these regulations, it’s tough because it’s the only game in town.
ICBC interest rates have been a hot topic in British Columbia recently, with young drivers being hit hard. The county attributes the spike in prices to increased insurance costs, including injury claims, lawsuits and vehicle repair obligations. That’s cold comfort for British Columbia drivers who have watched their fares go north.
There is pressure to add private insurers in the province, providing more choice and competition as a way to lower prices, but so far British Columbia has shown little interest in giving up its monopoly on auto insurance.
In February 2020, B.C. The government announced that it would implement a no-fault policy. With no-fault insurance, accident victims cannot sue for damages unless the accident was caused by street racing, negligence, impaired driving, or defective or poorly repaired vehicles. Instead, affected individuals will receive benefits and compensation directly from the Industrial and Commercial Bank of China (ICBC). This means BC. After May 1, 2021, drivers will enjoy a 20% discount on base and optional fares. Until then, ICBC interest rates will not rise.
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ICBC also offers discounts to those who drive less (e.g., low mileage), and have cars equipped with autonomous emergency braking systems and anti-theft devices.
Ontario – the most populous province – is the second most expensive province when it comes to car insurance. Running up and down the 401 isn’t cheap; The average car insurance in Ontario is over $1,500 per year. In 2015, Ontario was the most expensive with average premiums of $1,281 per year, but the $247 increase doesn’t seem too bad compared to British Columbia. Experts point to rampant fraud as the main reason for high interest rates. Liberal accident benefit laws also contributed.
Car insurance is mandatory in Ontario, but unlike British Columbia, you have the option of shopping for the best deal through private insurance companies. Take the time to compare brokers and get a competitive rate for the coverage you need.
The Ontario government announced “transformative” measures last April, but they don’t appear to be saving drivers money. In February 2020, an average increase of 1.56% took effect, causing the average premium to rise from $1,505 to $1,528, according to our calculations. Some insurance companies have increased their rates by up to 11%.
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Known for its vast skies, Alberta has become a province with hefty insurance premiums if you want to drive a shiny new F150 down a Calgary road. Alberta car insurance rates are now the third most expensive in Canada, with the average annual premium at $1,316, which is $300 more than in 2015 ($1,004), when Alberta ranked fifth in the country. What happened to the Alberta Advantage?
The previous provincial government capped private auto insurers at 5% annual rate increases, but Alberta’s UCP government rescinded that in 2019 to the satisfaction of insurers. Therefore, it seems unlikely that interest rates will fall any time soon.
Another province with long prairie routes between destinations, Saskatchewan saw a near-modest increase in driver insurance rates. In 2015, Saskatchewan drivers paid an average annual rate of $1,049. Now, it averages an additional $186.
Like British Columbia, Saskatchewan runs a provincially managed auto insurance agency (Saskatchewan State Insurance), so, unfortunately, you pay what they charge you. No shopping around. All drivers in the county are required to carry up to $200,000 in third-party liability insurance, but a report released in May warned that a significant portion of the county’s drivers are “underinsured.”
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For a relatively small population, Newfoundland and Labrador is seeing the largest rate increase in the country. Rates in Newfoundland and Labrador have risen 55% in five years to rank fifth on our list and are the highest in Atlantic Canada – 35% higher than its maritime neighbours. what is the reason? Some point to large bonuses for relatively minor injuries as the culprit. Newfoundland and Labrador operates under a “tort regime,” which means you can sue the driver for pain and suffering, wage damages, and other damages.
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