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Effective January 26, 2023, the Alberta Government announced a pause on new rate increases for Private Passenger Vehicles (PPV, or auto insurance) until the end of 2023. During this time, Insurers, such as TD Insurance, are required to provide PPV customers the option to pay their premiums through payment plans.
What does this mean?
- Insurers, such as TD Insurance, cannot apply for new increases to Albertans' auto insurance premiums until December 31, 2023.
- Customers may still experience an increase at renewal based on previously approved rate increases.
- Premium may also be impacted during the rate pause if, since the last renewal, there is any change in risk profile, such as a:
- New at-fault claim.
- New traffic violation added to a customer's driving record.
- Vehicle is removed or added.
- Change in home address.
TD Insurance is compliant with these requirements, and is pleased to continue to serve AMA’s members and staff in Alberta.
Questions or concerns about the pause on auto insurance rate changes in Alberta?
Please contact TDIMM’s dedicated AMA line 1-844-859-6566 or visit the home and automobile web page for more information. | 