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Facts About Car Insurance in Calgary

Auto Insurance

By Smart Bug | February 18, 2016

Drivers in Calgary know insurance rates are going up and it can be expensive to insure your car especially if you’ve just moved from somewhere else with cheaper premiums. But why are insurance rates so high in the city? What can you do to lower your rates? Don’t worry. We can help.

Why Are Calgary Car Insurance Rates Increasing?

In the last decade, Calgary has been one of the fastest-growing cities in Canada with its population quickly passing 1.2 million residents. Calgary is also one of the largest cities in terms of area (meaning we have a lot of urban sprawl). That means more driving and more people on the road to get into accidents with. Calgary also experiences many days with winter driving conditions increasing the likelihood of accidents.

Here are just some of the reasons Calgary car insurance premiums have increased:

  • Long commute times and distances
  • Winter driving conditions are common
  • High frequency of accidents
  • Hail storms are typical in summer
  • Higher incidences of theft

Unfortunately, there’s not much you can do about the weather or frequency of accidents (other than investing in hail protection or practising safe driving habits yourself). But there are ways you can decrease your premiums and get good coverage at an affordable price.

What Affects Your Car Insurance Premiums in Calgary

1. Your Commute

Did you know that when you drive can also impact your insurance rates? Commuters almost always pay more in insurance premiums because the majority of accidents happen during rush hour. One way to lower your premiums is to skip the daily commute (not a bad idea considering the state of Deerfoot Trail or Glenmore at 8:00 am) or try to work flex-hours that avoid rush hour traffic.

2. Your Deductible

A deductible is the portion you pay out of pocket for any claim you make on your car insurance policy. Deductibles range from $500 to over $2000. The higher your deductible the more you pay more towards the claim or the cost of the repair. But you’ll also be lowering your annual premiums.

3. Your Coverage

Your coverage choices affect the price of your insurance. The more coverage you have the more expensive your premium. It’s important to balance the coverage you need with your budget. An insurance broker can give you advice on which coverages you should have and which are nice to haves.

Other factors include:

  • Your insurance history including how long you’ve been consecutively insured and how many claims you’ve made.
  • Your driving record including tickets and accidents.
  • Which neighbourhood you live in.
  • The car you drive and how expensive it would be to repair or replace.

We have a whole article that discusses the factors that impact your car insurance premiums if you want more information. Don’t forget that there are also many discounts offered by insurers too!

Purchasing Car Insurance in Calgary

Our best advice is to work with an independent insurance broker (not an agent who only represents one company) who can understand your needs and budget and find you coverage that fits. We work with a variety of insurance companies to find the right insurance for you.

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