Why would insurers increase rates during a crisis?

Many of the approved rates in the AIRB’s rate posting were submitted by insurers and approved by the AIRB late last year or early this year. These rates changes have already been implemented. Insurers understand that this is a challenging and uncertain time and want to help alleviate some of the financial burden for the most vulnerable. They recognize that many drivers are no longer commuting or using their vehicle as regularly, and their premiums should reflect the reduced risk.

If your driving habits have changed significantly, or you are facing financial hardship as a result of the pandemic, contact your insurance representative. Savings will vary based on individual driving habits.

Insurers believe auto insurance should be more affordable. That’s why we are working with the Government of Alberta in hopes of implementing balanced changes that will make auto insurance more affordable while providing consumers with more choice and care when they need it.