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If you want to drive in Fort McMurray, or anywhere else in Alberta, you’ll need valid car insurance, as it’s required by law.
In 2022, Alberta moved to a direct compensation for property damage (DCPD) system. Under this system, a driver must claim vehicle damage for which they are not responsible through their own insurance company rather than the company of the at-fault driver. DCPD does not prevent drivers from pursuing legal action for other damages, such as injuries due to an automobile accident or property damage that’s not covered by DCPD.
If you take the risk of driving without car insurance in Fort McMurray, you may end up paying a fine ranging from $2,875 to $10,000.
There are several great ways to find out about car insurance in Fort McMurray. You can consult:
Answer a few basic questions about your car and your insurance history.
See quotes from multiple top insurance companies side by side.
Find the right protection for your vehicle.
Connect with the provider and secure your rate.
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| Insurance coverage | Category | Description |
|---|---|---|
| Personal liability and property coverage (PLPD) | Mandatory | This coverage provides financial aid when you're at fault for an accident. Your insurance will pay the bills of anyone you injured in the accident. (Likewise, your accident benefits will pay for your medical costs.) The minimum you're required to carry is $200,000. This means your insurance company will pay for expenses up to $200,000. Experts often recommend that policyholders increase their coverage to at least $1 million. The liability part of your insurance contract will pay for: - Medical costs for anyone you've injured - The cost to repair or replace another person's property - Legal fees that stem from the accident and finally - Damages to the injured parties. |
| Accident benefits | Mandatory | This part of your policy covers costs when you or a passenger are in an accident and need medical care. Accident benefits also provide compensation for: - Lost wages - Funeral expenses - Surviving spouses and dependents. |
| Direct compensation for property damage (DCPD) | Mandatory | This covers the cost of repairing or replacing your car after you're in a collision you did not cause. If you are 100% not at fault, DCPD will cover 100% of your costs. It's possible to be partially at fault for causing an accident. In this scenario, you'll still receive compensation from DCPD, but it will be a reduced amount. For example, if you're 50% responsible, you'll only receive 50% of your benefit. DCPD has no deductible and filing a claim won't affect your premium in the future. (You can opt to purchase a deductible — this will reduce your premium slightly.) |
| Collision coverage | Optional | This helps pay for repairs if you collide with another vehicle or crash into a stationary object. Collision coverage will pay to repair your car if you're at fault for an accident. |
| Comprehensive coverage | Optional | This helps pay for repairs if an event other than a collision damages your car (e.g., vandalism or adverse weather). Calgary sits in Alberta's Hailstorm Alley, making it prone to severe summer storms. Hail causes millions of dollars in damage to vehicles each year. Comprehensive insurance will cover this peril. |
| Named perils | Optional | This is a cheaper option than comprehensive. It only protects against the perils listed in your policy. |
| Comprehensive Cover Limited Glass (SEF 13D) | Endorsement | This limits a vehicle's glass coverage for a reduced premium. |
| Loss of Use (SEF 20) | Endorsement | If your car is unusable, this endorsement will pay for temporary transportation. You can use the money for taxis and public transit up to a limit. |
| Legal Liability for Damage to Non-Owned Automobiles (SEF 27) | Endorsement | This extends your physical damage insurance to a rental vehicle. |
| Accident Rating Waiver (SEF 39) | Endorsement | If you are found responsible for causing an accident, this endorsement prevents your premium from rising. It only applies to scenarios that your insurance company agreed in advance to cover. |
| Limited Waiver of Depreciation (SEF 43R) | Endorsement | This endorsement prevents the insurance company from factoring in depreciation when calculating a claim payout. For this endorsement to apply, the damage needs to be caused by an insured event. |
| Family Protection (SEF 44) | Endorsement | This is excess coverage for accidents that involve an underinsured driver. This endorsement will cover the total cost of a claim. |
Though auto insurance rates in Fort McMurray are not the most expensive in Alberta, they are not the cheapest either, averaging at $1,806 per year, or about $151 per month, according to the RATESDOTCA Insuramap .
Why are the rates so high? Could be due to the size of the population. When there is no influx of oil patch workers, the population is about 75,000. Seasonal work pushes the population to as high as 112,000 at certain times of the year. As the population grows, drivers are forced to share the road with industrial vehicles from the oil sector, which increases rates over time.
Because of inflation and the high cost of living, the Alberta government froze insurance rate increases for private passenger vehicles in 2023. Although some rates might still go up because of previously approved rate hikes, no new hikes will be approved this year.
That’s good news for drivers in Fort McMurray. And if you’re looking for cheap car insurance, you can always consult RATESDOTCA.
The average car insurance rate in Fort McMurray is $1,806 per year, which is about 9.3% cheaper than the provincial average of $1,991 per year.
Some of the highest auto insurance rates in the province are in Calgary, which has an average premium of $2,230 per year, and in Edmonton, which has an average premium of $2,124 per year. That’s 19% and 15% higher than Fort McMurray, respectively. Red Deer, one of the cheapest places to get car insurance in Alberta, has an average premium of $1,712 per year, which is 5.5% cheaper than Fort McMurray.
(how Fort McMurray compares to the 3 most expensive and 3 cheapest cities in Alberta)
Average insurance premium numbers are according to data from RATESDOTCA Insuramap (gathered in 2022).
Note: The rates above may not apply to you, as they are based on a specific profile. Be sure to learn more about our methodology.
| Company name | Company type | Phone number | Address |
|---|---|---|---|
|
Alberta Driver Evaluations |
Insurance agency |
780-838-3144 |
504-136C Sandpiper Rd, Fort McMurray, AB T9K 0J7 |
|
AMA Insurance |
Insurance agency |
780-743-2653 |
4 Hospital St, Fort McMurray, AB T9H 5E4 |
|
BrokerLink |
Insurance broker |
780-790-1578 |
1-604 Signal Rd, Fort McMurray, AB T9H 4Z4 |
|
ClaimsPro |
Insurance agency |
1-800-663-3993 |
10210 Centennial Dr, Fort McMurray, AB T9H 1Y5 |
|
Quotes comparison |
1-855-821-7312 |
100-360 Adelaide St W, Toronto, ON M5V 1R7 |
|
|
Quotes comparison |
1-855-487-6911 |
401-1910 Yonge St, Toronto, ON M4S 3B2 |
|
|
Quotes comparison |
1-844-726-0907 |
100-360 Adelaide St W, Toronto, ON M5V 1R7 |
|
|
Rogers Insurance |
Insurance agency |
780-791-3770 |
10016 Franklin Ave, Fort McMurray, AB T9H 2K6 |
|
Insurance broker |
1-866-456-6620 |
22-300 Lincoln St, Welland, ON L3B 4N4 |
|
|
TW Insurance Brokers |
Insurance broker |
780-791-0035 |
9908 Franklin Ave, Fort McMurray, AB T9H 2K5 |
To mitigate some of the factors listed above and avoid paying an unnecessarily high insurance rate, consider the following:
Need more information on Fort McMurray car insurance? We got you covered.
While there are many companies offering auto insurance in Fort McMurray, there is no way to determine which of them would offer the cheapest rate. Factors such as your driving record, the make and model of your car, your credit history and your location all play a role in deciding your premiums.
Check out RATESDOTCA for the most current, and cheapest, rates from the top providers in the Fort McMurray area. It only takes a few minutes to get the rates, and the site is free to use.
There is no month-to-month car insurance in Fort McMurray, since most auto insurance companies require at least a one-year commitment.
If you require short-term transportation, you can rent a car instead, and only pay insurance for the length of your rental.
If you have an existing policy from somewhere else, you can temporarily add the car you’re driving in Fort McMurray to save a bit of cash.
If you live in Fort McMurray, but don’t drive often, you can reduce your coverage during the time of year you don’t drive. This may save you money, but you’d still be responsible for a year-long policy.
To get car insurance as a new driver in Fort McMurray, all you need to do is look up insurance brokers, agents or direct writers in your area. Alternatively, you can assess quotes by looking at comparison sites such as RATESDOTCA.
Unfortunately, younger drivers will still have to deal with high rates due to the risks they pose. To mitigate those risks and lower the costs, consider the following:
Even if you are older, but still relatively inexperienced, you’ll need to build a clean and safe driving record to get the cheapest insurance rates possible. You can take a class, or drive under someone else’s policy. Over time, as you build your record, your auto insurance premiums will come down.
Ridesharing is available in Fort McMurray. Uber and TappCar are some of the companies offering services to residents.
Many ridesharing companies offer insurance coverage to their drivers. For example, as of 2020, Uber provides commercial insurance by Economical Insurance in provinces such as Ontario, Quebec and Alberta. Drivers receive:
$2 million of uninsured/underinsured motorist coverage, $2 million of third-party liability coverage, loss or damage to a vehicle and coverage between trips. The insurance provides $1 million of third-party liability coverage if your insurer denies coverage.
Just remember to always inform your insurance provider of your plans to become a driver for a ridesharing app, even if the app offers coverage. Not doing so could void your personal auto insurance policy (and having one is a prerequisite for rideshare drivers).
Reviewing multiple quotes is the best way to get cheap automobile insurance in Fort McMurray, and it’s never been easier. Within minutes our RATESDOTCA online tool helps you compare quotes from more than 50 of Canada’s top insurance companies.
*Shoppers in Alberta who obtained a quote on RATESDOTCA and transacted via our contact centre from January to December 2021 saved an average amount of $736. The average savings amount represents the difference between the shoppers’ average lowest quoted premium and the average of all other quoted premiums generated by RATESDOTCA.
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