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Alberta Car Insurance: Understanding the Grid Rate Calculator

April 13th, 2013  |  Insurance

While auto insurance is required by law in every province, the amount you pay for your premium and how it is calculated varies based on where you reside in Canada. In Alberta, car insurance rates are set using the Grid Rate Calculator.

First introduced in 2004 by the Alberta Government, the Grid Rate Calculator was established to regulate car insurance rates within the province. Using a grid and series of variables, a maximum rate is established and insurance companies cannot charge more than this amount for basic coverage, which includes Third Party Liability and Accident Benefits. However, the majority of drivers within the province pay less than the listed grid premiums.

When assessing quotes and establishing a rate for drivers, insurance companies are required to compare the rates of a driver from their current driver rating program and the driver’s premium as it appears on the grid. Once complete, drivers will be charged the lesser of the two rates.

Just like in any other province, there are many common factors that have an impact on how much you will pay for insurance in Alberta. Things like your age and experience, driving history, the car your drive, and where you live are all factors that help determine your rates using the grid calculator.

If you are an Alberta resident and want to see where you appear on the grid, you can calculate your maximum premium here. How well did you fare? Are your rates higher or lower than you expected? Let us know below!

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