Young or new drivers are deemed a higher risk for insurance companies. So, if you’re just starting to drive, your insurance rates will be pricier than a seasoned driver’s rates. You may also see your premium increase after the age of 70 because drivers in this age group are more likely to have larger claims and take longer to recover from accidents.
Driving convictions and a large number of claims will lead to higher premiums. Finding a cheap car insurance policy in Alberta can be difficult if you are a high-risk driver.
Your insurance history may impact your rates. You may receive a higher priced quote if you have filed multiple claims, or you have a history of missed payments. New immigrants may also have issues finding affordable rates because they don’t have experience driving in Canada.
According to demographic data, inexperienced drivers (less than 8 years in Alberta) are more likely to be involved in an accident, so their rates will be higher.
The price, make, model and age of a vehicle all affect your insurance costs.
How You Use Your Vehicle
Using your car for work may increase your premium. A broker will ask about the length of your commute to determine your rate.
Your premium will be higher, the more insurance coverage you have above the minimum amount.