Previously approved rate increases will still go ahead, government says. The Alberta government will not approve auto insurance rate increases for the remainder of 2023.
Finance Minister Travis Toes and affordability and utility Minister Matt Jones said in a news release. Thursday, the Province will also look at short and longer term measures to get insurance rates in check.
Some rate increases will still go ahead if they were previously approved, if a driver having an out- fault claim or a ticket. Drivers can also see increases if they move to another address or insure a different vehicle.
The freezes only applies to private passenger vehicles. The move comes several years after the UCP government decided not to renew the five percent rate cap implemented by the previous NDP government. Continue Reading this history on your E- Board at Essu Center
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