Meanwhile, Saskatchewan had the lowest median for annual auto insurance premiums among the provinces, at $1,249. Manitoba was not far behind, with a median annual auto insurance premium of $1,373.
A ranking of the provinces based on their median annual auto insurance premiums, from highest to lowest, is as follows:
Alberta – $3,151
Nova Scotia – $2,491
Ontario – $2,299
New Brunswick – $2,187
Newfoundland – $2,162
BC – $1,775
PEI – $1,703
Manitoba – $1,373
Saskatchewan – $1,249
In terms of specific Canadian cities, Calgary, Edmonton, and Halifax were identified by HelloSafe as having the most expensive auto insurance premiums in Canada, each paying annual medium premiums of $3,182, $3,150, and $2,490, respectively. On the other hand, the cities with the lowest annual median premiums were Vancouver ($1,841), Winnipeg ($1,381), and Saskatoon ($1,249); it was noted that these cities are in provinces where there is a public auto insurance system in place.
HelloSafe also looked at which driver profiles pay the most and the least for auto insurance. The insurance comparison website found that a female driver living in The Pas, MB who is 51 years old, employed, and has been licensed for 35 years can pay the lowest possible annual insurance premium of $383.
But on the other side of the spectrum, a male driver living in St. John’s, NL who is 18 years old, a student, and a Stage 2 learner driver can pay the highest possible annual insurance premium of $6,828. HelloSafe also pointed out that Stage 2 learner drivers are likely to pay 4.8 times more than drivers licensed for 35 years or more.
Alberta’s place at the top of the list of provinces with the most expensive annual auto insurance premiums comes as the region mulls a rate freeze through the introduction of Bill 206. However, the Insurance Brokers Association of Alberta (IBAA) has raised concerns that the measure is only a temporary fix for an issue that needs a lasting solution.