Find Cheap Car Insurance in Red Deer

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Written By Joel Kranc

Contributing writer


Car insurance in Red Deer

Drivers looking for the cheapest car insurance in Red Deer have a variety of options. The province has a private auto system meaning you buy insurance directly from the provider, not a provincial body (unlike in B.C. and Saskatchewan).

Basic (accident benefits and third-party liability) auto insurance in Red Deer, or anywhere in the province, is required. The province wants to keep car insurance rates in Red Deer affordable. The Automobile Insurance Rate Board (AIRB) regulates automobile insurance rates in Alberta and establishes a maximum amount that can be charged for basic coverage. There is no maximum amount 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.

Mandatory and optional car insurance in Red Deer

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.

Recent auto insurance quotes in Red Deer

Recent Auto Insurance Quote from CALGARY, ALBERTA
Male, Age 50
June 25, 2024
Cheapest Quote
$ 94 / month
$1,124 / year
Average Quote
$ 115 / month
$1,378 / year
$ 21 / month
$254 / year
18.43 %
Recent Auto Insurance Quote from CALGARY, ALBERTA
Male, Age 20
June 24, 2024
Cheapest Quote
$ 343 / month
$4,120 / year
Average Quote
$ 564 / month
$6,764 / year
$ 220 / month
$2,644 / year
39.09 %
Recent Auto Insurance Quote from CALGARY, ALBERTA
Male, Age 26
June 24, 2024
Cheapest Quote
$ 380 / month
$4,559 / year
Average Quote
$ 975 / month
$11,695 / year
$ 595 / month
$7,136 / year
61.02 %
Auto insurance quotes are compared from CAA, Coachman Insurance Company, Echelon Insurance, Economical Insurance, Gore Mutual, Onlia Insurance, Pafco, Pembridge, SGI, Travelers, Zenith Insurance Company

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How much does car insurance cost in Red Deer?

Red Deer's average car insurance premium was $1,712 in 2021 or nearly $143 per month.

It increased by roughly 9% since 2020, when the average was $1,380.

Compared to the provincial average, Red Deer residents are paying 14% less than the provincial average, which is currently $1,991 per year.

Insurance costs are driven by claims (the amount insurers pay to customers when they report a loss).

When a premium is below the benchmark, it's likely because there is fewer claims activity within that geographic area.

It makes sense that Red Deer's premiums are below the Alberta average.

Red Deer is a relatively smaller town compared to the bigger cities of Calgary and Edmonton. They are larger cities with more traffic, congestion and claims, so they tend to bring up the national average.  Red Deer is about halfway between Calgary and Edmonton, meaning commuters to both cities will travel through or from Red Deer.

How does Red Deer's average car insurance rate compare to other cities in Alberta?

Rank City Average 2021 premium
1. CALGARY $2,230
2. EDMONTON $2,124
4. BLACKFALDS $1,969
5. ST. ALBERT $1,940
14. RED DEER $1,712

Red Deer is far down on the RATESDOTCA Insuramap ranking of Alberta cities by auto insurance price. Drivers here pay $1,712 per year, or approximately $143 a month.

Drivers in Red Deer looking for auto insurance have a slight price advantage over their provincial cousins. The provincial average for car insurance is $1,991 per year. If you live in Calgary, you are paying the most in the province at $2,230 per year.

The 2021 Census conducted by Statistics Canada states that Red Deer's population is 100,844 – a medium to small city by most standards. Generally, smaller cities have cheaper insurance rates mainly due to lower risks and traffic scenarios. Finding cheap auto insurance in Red Deer will be determined by experience and postal code, but rates remain some of the lowest in the province.

Keep in mind that the Insuramap rankings are based on quotes offered to a 35-year-old male driver with no claims or driving convictions. Your insurance premium could be different — either higher or lower — based on your individual driving and insurance history.

Which companies offer car insurance quotes in Red Deer?

Company name Company type Phone number Address
Allstate Insurance Insurance Agency 587-802-3302 128-2325 50 Ave Red Deer AB T4R 1W5
AMA Finacial Services 403-342-6633 141-2004 50 Avenue Red Deer AB T4R 3A2
Co-operators Insurance Agency 403-343-1026 16-6791 Gaetz Ave W, Red Deer AB, T4N 4C9
InsuranceHotline.com Quotes Comparison 1-855-821-7312 360 Adelaide St. West, Toronto, ON, M5V 1R7
Lowestrates.ca Quotes Comparison 1-855-487-6911 1910 Yonge Street, Suite 401, Toronto, ON, M4S 3B2
Morgex Insurance Insurance Agency 403-340-4595 4901 48 St. Red Deer, AB, T4N 6M4
Platinum Insurance Inc. Insurance Agency 403-358-6062 202-4719 48 Ave., Red Deer AB, T4N 3T1
RATESDOTCA Quotes Comparison 1-844-726-0907 360 Adelaide St. West, Toronto, ON, M5V 1R7
Scoop Insurance Insurance Brokers 1-866-456-6620 300 Lincoln St., Unit 22, Welland ON, L3B 4N4
Westland Insurance Insurance Agency 403-309-2230 270-5002 55 St., Red Deer AB, T4N 7A4

Factors that affect your Red Deer car insurance premium

Age – Insurance providers always look at risks. Unfortunately, younger drivers are considered higher risks, and more experienced drivers are considered lower risks. This is not a punishment for living in Red Deer. Insurers across the country look at the same risk factors and generally deem drivers under 30 the highest risks.

Where you live – Postal codes can influence Red Deer car insurance quotes. Areas with a higher concentration of claims may also have higher rates than people living next door.

How much you drive – Car insurance in Red Deer, like most other places, also depends on how much you drive. Daily commuting will cost more (as it provides more risks) than the occasional errand or school pick-up.

Your license level – Not having a full license will cause your premium to be higher. Conversely, having a full license positively affects your car insurance rates. New drivers looking for car insurance in Red Deer should expect higher rates.

Driving record – The better driver you are, the cheaper your Red Deer auto insurance can get. That's because providers consider you a lower risk. The opposite is true if you have a less-than-stellar driving record, which could jack up prices on your auto insurance.

Tips for getting cheap car insurance in Red Deer

  • Buy snow tires: Not only are snow tires essential for safely navigating Red Deer's roads between October and April, but they can also be a great way to get a discount on your car insurance premiums. Make sure to check with your car insurance provider to see how much of a discount you qualify for.
  • Take public transit: One great way to save on your car insurance is to reduce how much you drive by using it.
  • Bundle your home and car insurance: Most insurance providers will give you a discount for holding more than one insurance policy. If you're already a homeowner in Red Deer, talk to your home insurance provider about bundling your car insurance policy.
  • Shop around: Use comparison sites like RATESDOTCA to find the cheapest auto insurance quotes in Red Deer.
  • Increase your deductible: This allows you to pay lower premiums and reduce expenses. But know your expense to repair a damaged car may offset those savings down the road.
  • Driving courses: Insurance providers want to know you are as low a risk as possible and as safe a driver as possible. Many insurance providers offer discounts for drivers who take courses.
  • Maintain good credit: Having a solid credit history can reduce your auto insurance in Red Deer. Most insurers use credit information to price out their policies (along with other factors).
  • Comparison shopping: Using sites like RATESDOTCA, which offers fast and easy comparisons from the major insurance providers, will help you find the cheapest car insurance quotes in Red Deer.

Frequently asked questions about car insurance in Red Deer

Here's all you need to know about car insurance in Red Deer.

Which company has the cheapest car insurance in Red Deer?

The best way to find the cheapest car insurance in Red Deer is by using sites like RATESDOTCA. Rate comparison sites like ours allow you to comparison shop all the major car insurance providers efficiently and easily.

What are the best car insurance companies in Red Deer?

The best car insurance companies in Red Deer 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.

Can I get month-to-month car insurance in Red Deer?

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 (usually a percentage of your annual premium).

How do I get car insurance as a new driver in Red Deer?

As a new driver in Red Deer 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. This may not always be an option, but it can be a better way to start if offered by your provider.

Is ride sharing insurance available in Red Deer?

Ride-sharing insurance is available in Red Deer. Ride-sharing insurance, otherwise known as S.P.F. 9, Transportation Network Automobile Policy, is insurance that balances the personal use and commercial use coverages for operators of ridesharing services. Speak to your insurance provider about your specific needs and how you intend to use your vehicle; informing your provider before you join a platform will prevent your insurance from being cancelled.

*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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