Saturday, September 23, 2023
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Alberta auto insurance cost freeze for 2023

In a statement released Thursday, the government said it heard growing concerns the public about insurance affordability. He blames inflation and problems with the supply of auto parts.

According to a report byErnst & Young prepared for the British Columbia Automobile Insurance Corporation and published in October 2022, Alberta has the highest insurance costs in Canada for most driver profiles the consultant compared. Ernst & Young however, pointed out in a clarification this week that its study was not an exhaustive representation of all insurance options.

We will continue to meet with members of the insurance industry to find additional long-term solutionssaid the finance minister Travis Toewsin a press release.

Despite this freeze, car insurance premiums may continue to rise as some increases have already been approved. The government also clarifies that the measure does not prevent increases in connection with moving, changing vehicles or accidents.

Really too little, really too lateresponded the leader of the New Democratic Party of Alberta, Rachel Notleyat a press conference. Imposing a freeze on such premium increases due to their decisions will not help Albertans.

The official opposition is criticizing the United Conservatives for ending the increase cap previously imposed by the NDP government.



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