After making a rate change proposal, insurers must wait between 30- and 60-days before those rates are approved. After that, consumers are sent renewal notices at least a month before their new rates are proposed to come into effect. In all, it could take more than 90 days from rates being submitted to consumers seeing those rates. Rates posted today were submitted to the AIRB months ago.
However, on January 26, 2023, the Alberta government announced a freeze on all private passenger vehicle (PPV) auto insurance rate filings until the end of 2023. In its communications, government has been clear that drivers may still see rate increases on their renewals in 2023, due to previously approved rate changes, changes to driving records including at-fault claims and tickets, or changes to insurance profiles such as a new address or a different vehicle being insured.