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Affordable Car Insurance in Edmonton

If you drive daily in Edmonton, you’ll have to deal with high car insurance rates, compared to the rest of Alberta. Are you looking for the cheapest car insurance, or are you more concerned about having the right coverage for your unique needs. We help you find a balance between an affordable rate and the best insurance coverage options.

Why should I choose Sharp Insurance for my Edmonton car insurance?

Here are just a few reasons why you should choose Sharp Insurance for your Edmonton auto insurance: 

We’re independent.

We partner with insurance companies – but we work for you.

We’re competitive.

We work with five major insurance companies to get you the best coverage for the ideal price. 

We’re experts.

Our staff is experienced and never stops learning. We can answer all your questions and help you with claims. 

We’re digital.

Our MySharp app and online portal helps you manage your insurance when and where it’s convenient for you. 

See for yourself what we can do for you.

Is car insurance mandatory in Edmonton?

Yes, third-party liability and accident benefits car insurance is mandatory in Edmonton and covers damage and injuries to others if you’re at fault in an accident. We highly recommend you carry between $2 million to $3 million dollars of third-party liability coverage, which is well above the minimum requirements in Alberta. Keep in mind if your car is financed, your lender or bank requires you to have collision and comprehensive coverage. Otherwise, your insurance needs will depend on your car, your budget, and your individual situation. 

Mandatory Coverage: 

  • Third-Party Liability Coverage:  Helps pay for injuries and damage you cause to others. If you get sued, this coverage will help pay for legal expenses.
  • Accident Benefits Coverage:  If someone gets hurt in an accident, the driver will receive income replacement, rehabilitation, and medical benefits.  It doesn’t matter who is at fault.

Optional Coverage:

  • Collision or Upset:  If you’re not at-fault in an accident, coverage is available for loss of use and damage to your vehicle and its contents.
  • Uninsured Automobile Coverage:  If an uninsured driver injures or kills someone, or there is a hit and run, you and your family members will be covered. 

Did you know?

On average, Edmontonians have at least 2 discounts on their car insurance policy.  

Get the Right Auto Insurance Coverage in Edmonton

Getting the proper car insurance coverage in Edmonton is a balance of price, coverage and options.

What are the optional coverages for auto insurance in Edmonton?

There are several different types of optional car insurance you can carry in Edmonton.

Collision

Helps cover the cost of repairing or replacing your car if you’re at-fault in an accident

Comprehensive

Covers the expense of repairing or replacing your car if it gets stolen or damaged by hail, vandalism, or a fire.

Emergency Service Expense

Helps cover the cost of towing services after an accident or claim.

Emergency Roadside Assistance

Some insurance companies offer roadside assistance as part of the insurance policy.

Family Protection

Helps cover expenses if you or your family are hurt in an accident and the person at-fault is under-insured or uninsured

Glass

Helps pay for the cost of repairing or replacing your car’s glass, such as a damaged windshield.

Loss of Use

If you make a claim on your car insurance, you can get money for transit, Uber, or a rental car while your car is being repaired or your claim is settled.

Rental Vehicles

Extends your car insurance coverage to rental cars in the U.S. and Canada.

Ride-Sharing

If you plan to drive for a ride-sharing company, you need this type of endorsement to ensure you’re covered while you’re driving.

Edmonton’s car insurance companies may offer different coverage choices. If you’re not sure what protection you need, talk to an Edmonton car insurance broker. We can help you get the proper coverage at optimal prices. 

Did you know?

In Edmonton, the average cost of car insurance for a 2019 vehicle is $1,735 per year, or $144.58 per month, compared to a 2005 car that will cost you $1,193 annually and $100 per month. A savings of $542 a year.  

How much does car insurance cost in Edmonton?

The average cost of auto insurance in Edmonton is $1427 per year, or $118.92 per month – one of the highest rates in Alberta. Edmonton’s rate is slightly higher than Calgary’s rate of $1420 and the province’s average annual rate of $1235. If you’re on a budget, the cheapest car types to insure in the city is a minivan or station wagon. 

Car Insurance Prices for 5 cars:

  • $1626 – 2015 Ford F150 XLT Supercrew 4WD
  • $1923 – 2017 Ford Escape SE 4DR 4WD
  • $1394 – 2012 Dodge Grand Caravan SE
  • $1642.50 – 2016 Nissan Rogue S 4DR AWD
  • $1148.50 2003 Toyota Corolla CE 4DR

What affects the cost of auto insurance in Edmonton?

10 factors that affect the cost of car insurance in Edmonton:

  • Your insurance history
  • Your claims history
  • Your driving status 
  • Where you live 
  • Age, marital status
  • If you commute or use your car for work
  • The distance you drive each year 
  • If there is another driver on your policy 
  • The make, model and year of your car 
  • The MRSP or purchase price of your car 

Did you know?

The make, model and year of your car affects your auto insurance rates. Get a few insurance quotes to see how much it will cost you before you buy the car. 

How do tickets impact Edmonton auto insurance?

Tickets can impact your Edmonton car insurance rates significantly. In some cases, you may even see your coverage and payment options reduced. Insurance companies generally categorize tickets into three categories: minor, major, and serious traffic violations.  

A minor traffic violation can spike your Edmonton car insurance rates by 25 percent per ticket. Many insurance companies forgive the first infraction, but often tickets will stay on your record for 3 years and impact your rates.

Minor Traffic Tickets

  • Speeding 1 – 49km/h + over the limit
  • Following too close
  • Improper passing
  • Improper turn
  • Hogging the roadway

Serious traffic violations have consequences:  your Edmonton car insurance prices can rise significantly, and you’re more likely to have issues when you pursue optional insurance coverage or you want a convenient payment schedule.  

Major Traffic Tickets

  • Speeding 50km/h + over the limit
  • Dangerous driving
  • Racing
  • Stunting
  • DUI or distracted driving

How to Get the Cheapest Car Insurance in Edmonton

You may be surprised to find out there are many ways to reduce your insurance rates, some that are easy to change.  

11 tips to get the cheapest auto insurance rates in Edmonton: 

  • Drive safe. Use defensive driving techniques.
  • Use winter tires when the temperatures get consistently below 7C. 
  • Use alternate transportation for your commute.  
  • Stay insured – gaps mean higher rates – and pay on time. 
  • Work on improving your credit score if it’s an issue.  
  • Don’t make a claim unless it’s necessary.  
  • Take a driver training course. 
  • Review your insurance at least once a year with an insurance broker.
  • Reduce coverage on older vehicles.
  • Don’t make a claim unless you really can’t afford to fix the damage on your own.
  • Take a driver training course.
  • Install approved security devices.
  • Be aware of insurance fraud and scams.
  • Try usage-based insurance.
  • Choose a higher deductible.

Did you know?

On average, a motorist with zero claims will pay about $1398 for their Edmonton car insurance. A person with 3 claims will pay an average of $1494 a year, or $125 a month.  

How to Get a Edmonton Car Insurance Quote

There are several different ways to get a car insurance quote in Edmonton:

Usually, the easiest and fastest way to get a quote is online. The more information you have written down ahead of time, the more accurate your quote will be.

What do you need to get an auto insurance quote in Edmonton?

It’s prudent to have your personal information at your fingertips before you contact your insurer to call to get an insurance quote in Edmonton:

  • Name
  • Contact information
  • Address
  • Make, model and year of your vehicle (or VIN)
  • Purchase price of the car
  • Registration
  • Driver’s license number
  • Birthdate
  • Current insurance company, policy number and coverages

If your car is financed, you’ll also need to provide information about the loan and lender. You’ll need the above information for each car and insured driver.

You’ll likely be asked the following questions when requesting a car insurance quote:

  • Do you commute with your car? If so, how far?
  • Do you use your car for work (other than commuting)?
  • Are you a ride-sharing driver?
  • Was your vehicle bought new or used?
  • Is your car financed?
  • Does your vehicle have any existing damage?
  • Have you been in any accidents in the last 6 years?
  • Have you have had any claims?
  • Have you gotten any tickets in the last 3 years?

Finally, you’ll need to make some decisions about your insurance coverage. This includes what protection you want, your policy limits (the maximum amount that you’ll get if you have a claim), and your deductible (the amount you pay out of pocket if you have a claim).

Did you know?

If you’re a new driver, you’ll pay significantly higher rates than if you have 10+ years of driving under your belt.

Why do I need to provide so much information for a car insurance quote in Edmonton?

The more information you provide for a car insurance quote, the more accurate your quote will be. Insurance companies quote you based on the risk, or how likely it is that you’ll have a claim or accident.

Did you know?

You may be excused on your first ticket infraction, depending on your insurance company discounts. Ask your broker or insurer to see if you qualify.

How do car insurance claims work in Edmonton?

Whether you’re involved in an accident or your auto is damaged or stolen, you’ll need to do the following for a car insurance claim in Edmonton:

  1. Call 911 if there are any injuries, damage, or you’re blocking a roadway. Make sure everyone is okay.
  2. Make sure you’re somewhere safe (the shoulder of the road or a parking lot).
  3. Get the following information about all other drivers and cars involved:
    1. License plate
    2. Make, model, and year of the vehicle (the VIN works, too)
    3. Insurance information like insurance company and policy number.
    4. Driver’s license number
    5. Name
    6. Phone number
  4. Any witnesses? Get their contact information.
  5. Document the damage, if possible – take pictures and video.
    Write down:

    1. What happened/how the damage occurred
    2. Time of day
    3. Date
    4. Weather conditions
    5. Anything else related to the damage.
  6. Get a copy of the police report.
  7. Contact your insurance company or broker (phone number is on your pink card).

Your insurance company or broker will collect information and help you through the next steps. For example, if you have loss of use coverage, they’ll explain how arranging a rental car or getting repayment for public transit works if your car doesn’t work or needs to go in for repairs.

You’ll be assigned a claims adjuster who investigates and manages the claim. The adjuster will contact you to discuss what happened and keep you updated. The adjuster also negotiates for a settlement, whether your car is being repaired or if it’s a write-off.

A claim is closed when the repairs are complete or payment has been settled.

Frequently Asked Questions About Car Insurance in Edmonton

If you’re in an accident with an uninsured driver in Edmonton, you’ll be covered if you have Family Protection on your car insurance policy. You may also have coverage if you have collision and comprehensive protection on your vehicle.

Otherwise, you would go through Alberta’s Motor Vehicle Accident Claims Program.

Yes, fault matters in car accidents in Edmonton as fault determines which driver’s insurance company pays for injuries or damage. Fault isn’t always assigned 100% to one driver.

No, your personal items are covered by your home insurance policy, not your car insurance policy, if stolen. 

Everyone who owns a car needs insurance in Edmonton. As a driver, you’re legally required to carry third party liability and accident benefits coverage.

The insurance industry follows the all-comers rule, meaning you can’t be denied the legal minimum level of car insurance. But an insurance company can select your car insurance rate and choose to deny you optional coverage, if you have a serious traffic conviction or a history of non-payment.

The all-comers rule requires insurance companies operating in Alberta to insure any driver for the legally required minimum level of coverage.

Grid rating is how insurance companies determine car insurance rates for Edmonton drivers based on their driving record.

No, photo radar tickets don’t affect your car insurance rates.

Yes, speeding tickets affect your car insurance rates in Edmonton. Your insurance rates will go up if you get a speeding ticket (unless it’s a photo radar ticket). If it’s your first ticket, an insurance company may excuse the ticket for good behavior.

Your car insurance coverage depends on the insurance options you chose when you set up your policy. Mandatory third-party liability and accidents benefits coverage will help cover damage and medical expenses of other drivers and passengers involved in an accident where you’re at-fault. Mandatory coverage can also cover legal expenses if you’re sued after an accident.

No. Men and women pay similar insurance rates in Edmonton.

Replacement cost is a loss settlement option where you’ll receive the replacement cost of your vehicle if it’s a write-off after a loss. The replacement cost becomes the price to get the same or very similar car.

Actual cash value is a loss settlement option where you’ll receive the market value or purchase price of your car, minus the depreciation, if it’s a write-off after an accident. It’s the price you’d get if you had sold your auto as-is right before the claim.

Yes, your Edmonton car insurance should cover you in the US. Make sure to inform your insurance company that you’re driving south of the border. Some insurers require you to tell them you’re in the US or may have a limit on the number of days you can travel in the US and be covered.

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