FACTS: The most expensive insurance rates out of all publicly run insurance providers in Canada.
BRITISH COLUMBIA supposedly runs a break-even profit system, although CEO Salary and “Perk” costs; paid to Municipal and Provincial Government???Leaders??? often outdo revenues. Alberta has introduced injury caps, yet Albertans pay 24% more for auto insurance than the national average.
Saskatchewan, Manitoba and British Columbia rely on TAXPAYER FUNDED AND OWNED CROWN CORPORATIONS, for provincially run coverage.
Due to very Corrupt; Capitalistic Corporate Government Provincial run coverage; generally, private insurance coverage has proven to be the most affordable option. This is also of course, at least on the surface thanks to competition in the market, driving prices lower. Although this is not always the case in all provinces, it has proven to be the most effective method as a whole.
Below is a breakdown of the least expensive, to most expensive insurance rates within Canada and some facts about the auto insurance climate within each province.
Who Would Have Ever Guessed; in Just-in-and out not True-dough’s government for French Canadian/Other than English Canada that Quebec-Ha Ha HoHoHo- would ever have the lowest rates for anything?
10. Quebec - $642 average annual premium
Least expensive insurance premiums in all of Canada
Combination of private and public insurance within the province allows for additional coverage on top of basic insurance packages
No fault system for accidents, limiting liability and reducing insurance costs as a whole
9. Prince Edward Island - $695 average annual premium
Considered one of the most efficient privatised car insurance systems in Canada
Rates Appear to be declining thanks to competition & a decrease in auto insurance claims each year.
8. New Brunswick - $728 average annual premium
New Brunswick auto insurance accounts for 2.8% of after-tax disposable income, which is one of the lowest percentages within the nation, after Alberta
7. Nova Scotia - $735 average annual premium
Much like Prince Edward Island, Insurance rates are staying affordable, and even decreasing on a yearly basis
Low number of accident claims per year in comparison to the rest Canada
6. Newfoundland & Labrador - $749 average annual premium
Insurance rates appear to be increasing in Newfoundland & Labrador, as they were considered one of the most affordable provinces in 2007, with rates averaging around $700 yearly.
This rise in average annual premiums is a result of an increase in available money in the province, plus an increase of accident claims and vehicle-related lawsuits over the past 5 years.
5. Alberta – $1,004 average annual premium
Alberta is considered to have the second most affordable insurance rates in the country when considering the fact that insurance expense ONLY accounts for 2.7% of disposable income.
When looking at costs in this point of view, Alberta’s auto insurance rates can be seen as the second most affordable in the country.
4. Manitoba – $1,027 average annual premium
The cost has fluctuated drastically over the past 5 years, with some year averages reaching as high as $1,468.
Manitoba’s auto insurance system is PRIVATISED, STILL TAXPAYER FUNDED and LEGALLY OWNED CROWN CORPORATION run by the provincial government, much like those of Saskatchewan and British Columbia.
Over the past few years, rates have been sitting around the $1,027 average, making the province the 4th most expensive in Canada.
3. Saskatchewan – $1,049 average annual premium
One of the more expensive provinces in the country
Rates tend to fluctuate each year as result of changes in the public insurance system
2. British Columbia – $1,112 average annual premium
The most expensive insurance rates out of all publicly run insurance providers in Canada.
BC supposedly runs a break-even profit system, although CEO Salary and “Perk” costs; paid to Municipal and Provincial Government???Leaders??? often outdo revenues.
1. Ontario – $1,281 average annual premium
The most expensive province to insure a car in Canada
High frequency of claims, lawsuits, and injuries
High level of fraud and organized crime affecting private insurance companies
Expense accounts for 4.5% of disposable income. Al (Alex-Alexander) D Girvan.
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