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Updated Aug. 30, 2024
If you're a driver looking for the cheapest car insurance in Medicine Hat, you'll want to know how the system is set up. Car insurance in Alberta is regulated by the Automobile Insurance Rate Board (AIRB) under the authority granted by the province's Insurance Act. The Alberta Superintendent of Insurance of the Alberta Treasury Board and Finance and the Alberta Insurance Council also provide oversight.
Most importantly, Alberta has a private auto system meaning you buy insurance directly from the provider, not the provincial government (unlike Alberta's neighbours, B.C. and Saskatchewan).
Basic auto insurance (which includes accident benefits and third-party liability) is required in Medicine Hat. The province wants to keep car insurance rates in Medicine Hat affordable and has established a maximum amount that can be charged for basic coverage. No maximum amount is set for additional coverage because it is not mandated by law.
Alberta also has a Grid rating program to establish the maximum premium insurance companies can charge for basic coverage. Insurance companies must compare a driver's premium under their current rating system program to their premium calculated for the Grid and charge the lesser of the two premiums.
Grid applies only to basic coverage premiums (third-party liability bodily injury and property damage tort, accident benefits, and direct compensation property damage). A majority of Albertans do not pay the Grid rate.
Alberta has three categories of car insurance coverage: mandatory, optional, and endorsements.
| Coverage | Designation | Description |
|---|---|---|
| Third-party liability | Mandatory | Coverage for when you're found responsible for an accident that causes injury or damage to someone else. |
| Accident benefits | Mandatory | Covers the cost of medical care for you and your passengers. Coverage extends to rehabilitation, funeral expenses, death benefits, and income replacement. |
| Direct compensation for property damage (DCPD) | Mandatory | Covers the cost of replacing your vehicle and pays for replacement transportation costs. You receive the benefit if you were not at fault for causing the accident. Partially at-fault drivers may still qualify for DCPD. Their benefit will be proportionate to the percentage of fault allocated to them. There’s no deductible for this coverage, however you can ask one in exchange for a slightly lower premium. |
| Collision | Optional | Will pay to repair or replace your car if it's involved in a collision with an object other than a car. Carries a deductible. |
| Comprehensive | Optional | Will cover damage to your car caused by something other than a collision. Insurable perils include falling objects, vandalism, theft, and fire. Carries a deductible. |
| Specified perils | Optional | Covers the same types of perils as comprehensive insurance. You must specify which ones you want coverage against. Carries a deductible. |
| Comprehensive Cover Limited Glass (SEF 13D) | Endorsement | Reduces the amount of coverage for glass damage in your policy. In return, you get a lower premium. |
| Loss of Use (SEF 20) | Endorsement | Compensation for transportation costs (taxis and public transportation), up to a pre-determined limit. You'll only get this benefit if your vehicle is damaged due to a loss covered by your policy. |
| Legal Liability for Damage to Non-Owned Automobiles (SEF 27) | Endorsement | Extends physical damage coverage (and deductible) to rental cars. |
| Accident Rating Waiver (SEF 39) | Endorsement | Prevents your premium from increasing after an at-fault accident. |
| Limited Waiver of Depreciation (SEF 43R) | Endorsement | This waives depreciation on the repair or replacement of a new vehicle. Only applicable if an insurable peril damages it. |
| Family Protection (SEF 44) | Endorsement | Protects you if you’re involved in a collision with an underinsured or uninsured driver. The Family Protection endorsement will bridge the gap if the costs exceed the other driver’s insurance benefit. |
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| Rank | City | Average 2021 premium |
|---|---|---|
| 1. | CALGARY | $2,230 |
| 2. | EDMONTON | $2,124 |
| 3. | AIRDRIE, CHESTERMERE | $2,000 |
| 4. | BLACKFALDS | $1,969 |
| 5. | ST. ALBERT | $1,940 |
| 13. | MEDICINE HAT | $1,722 |
At $1,722 annually, Medicine Hat ranks 13th on the province's average car insurance premiums. Other larger cities, such as Calgary ($2,230), Edmonton ($2,124), and Airdrie ($2,000), rank higher.
Car insurance prices are determined by location, personal driving records, and population density, among other factors. The larger the population, generally speaking, the higher the rates will be as risks mount for insurance lenders.
Theft may also be a factor in rates, and with lower populations comes lower crime rates and the risk of a vehicle in Medicine Hat being stolen.
| Company name | Company type | Phone number | Address |
|---|---|---|---|
| A-WIN Insurance | Insurance Agency | 403-487-5132 | 109-2201 Box Springs Blvd NW, Medicine Hat, AB, T1C 0C8 |
| Capital Strategic Insurance & Financial Inc. | Insurance Agency | 403-526-6622 | 525 Second St SE, Medicine Hat, AB, T1A 0C5 |
| Co-operators | Insurance Agency | 403-528-8717 | 66A Eighth St NW, Medicine Hat, AB, T1A 6P1 |
| Cypress Insurance Services | Insurance Agency | 403-504-1088 | 1601 Dumore Rd SE, Medicine Hat, AB, T1A 1Z8 |
| InsuranceHotline.com | Comparison | 1-855-821-7312 | 360 Adelaide St. West, Suite 100, Toronto, ON, M5V 17 |
| LowestRates.ca | Comparison | 1-855-487-6911 | 1910 Yonge St Suite 401, Toronto, ON M4S 3B2 |
| RATESDOTCA | Comparison | 1-844-726-0907 | 360 Adelaide St. West, Suite 100, Toronto, ON, M5V 17 |
| Reliance Insurance | Insurance Agency | 403-526-8800 | 414 Sixth Ave SE, Medicine Hat, AB, T1A 2S8 |
| Scoop Insurance | Insurance Brokers | 866-456-6620 | 300 Lincoln St, Unit 22, Welland, ON, L3B 4N4 |
| TSG Insurance | Insurance Agency | 403-526-3282 | 623 Fourth St. E, Medicine Hat, AB, T1A 0L1 |
Find the answers to all your questions about car insurance in Medicine Hat here.
One of the best ways to find the cheapest car insurance in Medicine Hat is by using sites like RATESDOTCA. Rate comparison sites allow you to shop for all the major car insurance providers efficiently and easily.
The best car insurance companies in Medicine Hat are the ones that you find and give you the best options for your needs at the best rates. Comparison shopping, working with brokers, asking around and doing your homework on your local providers will help you make your decision. Each person's needs are different, so it’s best to gather as much information as possible to make an informed choice that works for you.
The simple answer is no. Standard car insurance policies last for one year.
Some insurance companies offer policies that are six months long instead of the usual term of one year. Because those contracts are relatively hard to find, you may have to purchase a conventional policy and cancel it when you no longer need it. You'll be charged a fee for cancelling before your renewal period (a percentage of your annual premium usually).
As a new driver in Medicine Hat looking for car insurance, it's best to start by comparison shopping on RATESDOTCA. Finding the best rates and the options that suit your needs is only a few clicks away.
It's also wise to enroll in driver education classes, which provide valuable training and can help reduce insurance costs for new drivers. Many providers see lessons as a risk reducer for the new driver.
Consider adding yourself to another policy (parent or relative) to help reduce costs.
Medicine Hat, like most medium-sized or small towns, has taxi services for its residents. Recently, city council voted to allow ridesharing in the city. The company, 24/7 Rideshare Services, offers citizens typical rideshare options, including food delivery.
Insurance as a 24/7 Rideshare Services driver is needed and can be acquired as a ride-sharing endorsement to ensure you are covered as a ride-sharing employee. Be sure to notify your insurance provider of your intentions before you begin driving for a ride-share platform. Not doing so could result in your policy being voided.
*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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