10 ways to reduce your rates | Alberta Automobile Insurance Rate Board (AIRB))

1. Shop Around

There are over 40 different insurance companies offering coverage for private passenger vehicles in Alberta. Price is not the only consideration. Shopping around is the best way to find the coverage you need for the best price.

2. Find other ways to commute

Your level of accident risk changes with the amount you drive. Lowering your commute distance by using public transit or car pooling could help reduce your rates.

3. Practice safe driving habits

Distracted driving is the leading cause of accidents and death. Annually, there are over 20,000 convictions for distracted driving in Alberta.

4. Reduce your risk of theft

Anti-theft devices could help reduce the risk of your vehicle being stolen and you may qualify for a discount. While many new vehicles come with a factory installed alarm system, which you may already receive a discount for, additional security measures may result in a lower rate.

5. Bundle your policies

If you have more than one vehicle, or other policies such as property insurance, you could lower your rates by bundling them with the same insurance company.

6. Increase your deductible

Increasing your deductible can help lower your rates. It is important to find the right balance and choose a deductible you can afford in case of a claim.

7. Choose the right vehicle

Your rates are based on factors including vehicle price, repair costs, safety record, and risk of being stolen. When considering a vehicle purchase, research how much it would cost to insure.

8. Decrease coverage

Collision coverage can significantly increase your rates and may not be necessary for older vehicles. If the value of your vehicle is less than your deductible or an expense you could cover on your own in the event of an accident, consider removing it to reduce your rates.