The Alberta government announced another change to auto insurance in the province they say will help bring down premiums for drivers. This is on top of a change made in November 2024 allowing insurers to raise premiums by more than a previous 3.7% cap for vehicle owners with good driving records. That change came as…
Auto thefts in Canada are down as a rule, with rates dropping close to 19% in 2024 as compared to the previous year. However, the number of stolen vehicles remains alarmingly high, according to the insurance crime watchdog Équité Association. Unfortunately, Alberta is emerging as a hotspot for vehicle crime, with thieves shifting their focus…
Auto insurance claims stemming from road rage incidents in Ontario have risen by 9.25% over the past five years, according to Canadian insurtech firm MyChoice. Brampton leads all Ontario cities in aggressive driving-related claims, with 6.05 road rage-related insurance claims per 100 auto insurance quotes (or 6.05%). North York (4.63%) and Scarborough (4.5%) follow closely…
It’s a wild world out there in the used vehicle market right now. Used cars in Alberta are scarce and expensive due to several factors, including increased demand driven by economic growth, supply chain disruptions affecting new car production, and inflation. The global semiconductor shortage has slowed down the manufacturing of new vehicles, pushing more…
According to Statistics Canada, during the first quarter of 2023 Canadian residents took 6 million trips to the U.S., more than three times the number of trips from the same quarter in 2022 (1.7 million) and reaching the same number of trips taken pre-pandemic during the same quarter in 2019. Holiday, leisure or recreation (3 million trips) and visiting friends or…
On Jan. 26, 2023, a news release from the Alberta government announced they would be freezing all rate hikes until the end of the year. A statement from the then-Minister of Finance Travis Toews said, “We share Albertans’ concerns about the rising cost of living during the current inflation crisis. We will continue to meet…
Auto insurance experts have been warning for some time that the number of auto thefts have been increasing dramatically, and the numbers are in to prove it. According to a recent CTV News report, auto theft claims for Calgarians totalled more than $33 million in 2023, and, as a result, theft claim costs in cities…
Albertans are being asked to weigh in with their opinions on the province’s auto insurance system, and it’s your turn to voice your thoughts. According to the Insurance Bureau of Canada (IBC), Albertans pay the second-highest auto insurance rates in the country, and the bureau wants the province to lower those costs. Last week, the…
As we know, the frequency and severity of natural disasters is on the rise in Canada, including hailstorms. Due to our unique location, Alberta is bound to see some more superstorms this summer. This province is home to many amazing things not seen anywhere else in the world, including massive hailstorms. We are home to…
The Insurance Bureau of Canada (IBC) was established 1964 and is the national industry association representing Canada’s private home, auto, and business insurers. They act as Canada’s insurance watchdog and work with governments, regulators, and stakeholders to keep the private property and casualty insurance sector competitive, healthy, and viable. The aim is to ensure that…