Cheap Airdrie Car Insurance Quotes

Car insurance in Airdrie

Car insurance in Airdrie, and Alberta in general, has gone through some big changes. As of January 2022, the province is on a no-fault insurance system, enabling direct compensation for property damage (DCPD). This allows no-fault drivers to call their own insurance companies for repairs. 

Other changes for drivers included enabled innovative insurance options such as pay-per-kilometre and greater flexibility for providers in applying usage-based insurance (UBI).

Car insurance in the province is mandatory and the Automobile Insurance Rate Board (AIRB), which regulates insurance in the province, has established a maximum amount that can be charged for basic coverage. This is known as a grid system. 

When you become a licensed driver in Alberta, you start out at a grid rate of zero. At-fault accidents, where there is property damage or bodily injury, will result in your grid rate increasing by five. Every year you remain accident-free, your grade rate goes down by one. The longer you go without an accident, the lower your grid rating and the cheaper your Airdrie insurance will be.

The AIRB has statutory authority to approve, reject or require changes to Alberta automobile insurance companies’ premium rating filings.

There are many ways to get insurance quotes in Airdrie and knowing which way works best for you can make a huge difference in finding the cheapest and most useful policy possible.

Some of those ways include:

• An insurance broker. Is an independent salesperson who partners with multiple companies to sell insurance. They can offer you different products and shop around for the cheapest rates.
• An insurance agent. Is a person who works for an insurance company and sells the insurance products of this company. An important aspect of working with an agent is that they sell insurance products of one company only.
• A direct writer. Is a person who works for one insurance company and only sells their product. It’s as if you are working directly with the insurance company.
• A quote comparison website. Sites like RATESDOTCA provide quotes from top insurance companies across Canada, including Airdrie. By providing a few simple bits of information, you can get the cheapest quotes in seconds, and for free.

How much does car insurance cost in Airdrie?

Car insurance rates in Airdrie average $1,743 per year, which is 10.7% below the provincial average of $1,557 per year and one of the highest in the province, behind only Blackfalds, Tsuut’ina and Fitzgerald.

Cities like Calgary and Edmonton have surprisingly lower average insurance rates in 2023, sitting at $1,741 and $1,586 per year, respectively.

Overall, however, Alberta average insurance premiums are lower in 2023 than they were in the previous years, such as 2021. Airdrie, for example, had an annual rate of $2,000 that year, while Alberta as a whole had a rate of $1,991. These cheaper rates are likely due to the recent rate freeze, instituted by the AIRB. The other culprit is probably the fact that the rates had gone down during the pandemic due to fewer people driving, and thus, fewer accidents and claims. Combined with the rate freeze, the rates are cheaper than they’ve been in a long while in the province.

In fact, it’s the opposite of what’s happening in Ontario, where there is no rate freeze. The average annual premium there has gone up in 2023, to $1,744, and is now higher than Alberta’s average, which wasn’t the case in the previous years.

As for Airdrie’s high ranking within Alberta itself – part of the reason for this is that Airdrie is located on the Queen Elizabeth II Highway (Highway 2), which links Calgary and Edmonton, and is part of the Calgary metro area. This part of the province tends to be highly congested, with high claims histories and the possibility for thefts or vandalism.

Factors that affect your Airdrie car insurance premiums

There are many factors that can affect your auto insurance rate in Airdrie. Here are some of the biggest ones:
 

1. Your driving record. Airdrie insurance companies want to keep risk factors low. So long as your driving record is clean, unaffected by speeding tickets and accident- and claims-free, you will be eligible for the cheapest auto insurance rates in Airdrie.
   
   However, by not obeying Alberta’s Traffic Safety Act, you can receive demerit points that will raise your risk factor and ultimately your insurance rates.
   
    
2. Your insurance history. Insurance providers in Airdrie look at past history to understand your future behaviour patterns. The fewer claims and infractions you have today, the better your rates can be, so long as you maintain that record.
   
   Younger drivers simply don’t have a history to rely on and will find themselves paying the highest insurance rates in Airdrie. So long as they maintain clean records, pay their premiums on time, keep claims low and are honest about the car they are insuring, they can expect their rates to gradually come down.
   
    
3. Your coverage. There is such a thing as getting too much coverage. Consider the way in which you use your vehicle and how much insurance you actually need. If your car is less than three years old, it may make sense to have extra coverage to cover the expenses of owning and repairing a new car. Older cars may only need basic coverage, as it is not worth insuring them beyond their replacement value.
   
   Talk to your broker or agent about the amount of coverage you may need and the ways to find the cheapest rates to meet those needs.
   
    
4. Your neighbourhood. Neighbourhoods can play an important role in your Airdrie insurance premiums. Insurance companies use forward sortation areas (FSAs) to determine boundaries. The first three letters of your postal code determine your FSA. High-crime areas or areas with high claims histories will naturally require you to pay more for insurance than safer neighbourhoods with fewer thefts and claims.
   
    
5. Your commute. Driving more means more chances for infractions or accidents. Therefore, occasional drivers will pay less for their auto insurance than daily commuters who are in their cars often.