Alberta has capped auto insurance rates at 7.5 per cent for good drivers in 2026, with a new system set to come in 2027. However, a new report has found rate caps do more harm than good.

In the past three years, Alberta has introduced various reforms to reduce the cost of automobile insurance. Despite these efforts, premiums have climbed steadily and now averages roughly $1,835 per ...

Editorial Note: Forbes Advisor may earn a commission on sales made from partner links on this page, but that doesn't affect our editors' opinions or evaluations. Owning a car has long been associated ...

A new report by the Montreal Economic Institute (MEI) finds that auto insurance rate caps are doing more harm in the long-term than good. (Credit: Larry Wong) Alberta has capped auto insurance rates ...