Alberta announces reforms to address high premiums for auto insurance
1:57
Global NewsDean Bennett
Alberta announces reforms to address high premiums for auto insurance
The Alberta government calls its new insurance plan good news for good drivers. It's promising reforms to help cut high auto insurance costs, but critics say it won't help, Morgan Black has more – Nov 1, 2023
Nov 1, 2023
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Governor Polis aims to lower auto insurance rates
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The current auto insurance rate cap of 7.5% (which is already more than triple current inflation rates) only applies to policy renewals. This means new drivers, newcomers to Alberta, and those wishing to switch insurance providers can face enormous insurance costs. Indexing auto insurance rates to inflation would help keep life in Alberta more affordable and promote the free market by giving people the freedom to shop around rather than needing to renew with their current provider. #abpoli | Sar
The current auto insurance rate cap of 7.5% (which is already more than triple current inflation rates) only applies to policy renewals. This means new drivers, newcomers to Alberta, and those wishing to switch insurance providers can face enormous insurance costs. Indexing auto insurance rates to inflation would help keep life in Alberta more affordable and promote the free market by giving people the freedom to shop around rather than needing to renew with their current provider. #abpoli | Sar
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