What Is The Main Cause Of The Rise In Auto Insurance Premiums?
There are many factors that have contributed to increases to auto insurance premiums for Alberta
What is Direct Compensation for Property Damage (DCPD)?
Alberta adopted a Direct Compensation for Property Damage (DCPD) system to improve the way Alberta’s
How are auto insurance rates set?
The Superintendent of Insurance approves rating factors that insurers may use to set their rates,
How long does it take to get rates approved?
After making a rate change proposal, insurers must wait between 30- and 60-days before those
What can consumers do to lower their premiums?
Alberta’s insurers continue to work with the government and stakeholders to advocate for continued balanced
Do insurance companies just file for the highest rates possible?
No. Alberta has a competitive insurance market and insurers compete for Albertans’ hard-earned premium dollars.
How often do these rate filings happen?
Filings go to the AIRB on a regular basis. This could be to request a
Why aren’t the rate changes communicated earlier?
The AIRB does not disclose information about rate filing decisions prematurely for competitive reasons, as
What are some of the factors that go into calculating drivers’ premiums?
Auto insurance premiums are calculated using many different factors (e.g., number of years driving, claims
Do consumers have to stay with the same insurance provider?
No. Consumers can choose among different insurers’ pricing mechanisms and benefit options to find a