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Alberta Auto Insurance Rate Pause

On January 26, 2023, the Government of Alberta announced a rate pause for private passenger vehicle insurance until the end of the year. As your trusted broker, we wanted to make sure you understand how the Alberta auto insurance rate pause impacts you.  

The Government of Alberta has paused rate increases for private passenger vehicle insurance until the end of 2023. However, the following can mean you still see a change in the cost of your auto insurance: 

  • Changes to your driving record such as an at-fault claim or ticket.  
  • Changes to your auto insurance policy such as changing your coverage, adding or removing a vehicle, adding or removing a driver, or changing how you use your vehicle.  
  • Rate increases approved before January 25, 2023, will stay in effect, including the 10 per cent GRID increase. 

Alberta uses a system called the Alberta GRID to determine the maximum allowable rates for mandatory liability insurance. This is based on your driving record and the number of years you’ve had a license. A 10 per cent GRID increase was already approved for 2023, meaning some drivers will see rate increases. 

If you have any questions about the GRID system or how auto insurance premiums work, please contact your broker. They can also discuss additional cost-saving measures you can take.