The True Cost of Alberta's Auto Insurance Overhaul

[@traceycampbell3487]

Again, it appears the UCP is padding the pockets of insurance agencies ---good for them, super bad for Albertans requiring automobile insurance. OUTSTANDING interview, thank you for pulling this together.

[@deborahtaylor4798]

I listened to the press release and they addressed a lot of the things you brought up. A lot of it made sense.

[@JonathanSicoli]

"The Alberta Advantage." Sure, you pay more for insurance and food, get paid less, but at least you get less taxes (some of which could get recouped to you anyway). Remind me why we tolerate the UCP's governance again?

[@RealTalkRJ]

A lot of folks believe that Alberta Advantage is disappearing... -rpj

[@JonathanSicoli]

@RealTalkRJ the worst part is I have people here I love. Can't really move, like certain folks insist I should.

[@paulolsen6834]

The average Alberta salary is higher than the Canadian average, taxes are much lower, housing has been historically lower cost comparative to income, no GST. Mostly higher basic services. See below (note that the median income levels dropped $20,000/year due to Covid years From Google Alberta's average household income is higher than Canada's average, and Alberta has consistently had the highest median after-tax income in Canada: Alberta's average household income before taxes is $119,700, while the average salary across Canada is $72,800. Alberta's median after-tax income is higher than the Canadian average, and has been since 2018: Alberta's median after-tax income 2022 $82,700 2020 $104,000 Canada's median after-tax income 2022 $70,500 2020 $92,400 Alberta's high median income is due to a combination of factors, including: Fewer households at the lower end of the income distribution More households at the higher end of the income distribution Alberta's natural resource wealth, including the mining, quarrying, and oil and gas extraction sector

[@Rhdlm-yo1tv]

@@paulolsen6834blah blah….that doesn’t help people sleeping in their cars and have jobs….you must be one of those delusional UCP nuts

[@JonathanSicoli]

@paulolsen6834 Uh huh, and how much were your energy bills last month? ($300 a month) How much does food cost? ($600) Deregulation of our province has provably led to higher costs on things regular Albertans use and need. How is that any better than an income tax?

[@adventurousbec]

While I'm not saying his points are right or wrong, I'm not surpised at what Mr. McCourt is saying. He would say the points he did, because that's how that type of law (injury) has built their business model.

[@RealTalkRJ]

He definitely comes at it from an "invested" position...but his points are fair! -rpj

[@waynerobinson7057]

It’s all good until you need the insurance them it’s worthless.

[@paulolsen6834]

Total Insurance losses are measured and weighed against total insurance premiums on a provincial level. Alberta has higher insurance than Saskatchewan in comparison as a result. You are not JUST paying for auto claims. It's unfortunate, but a reality. As discussed on the show, let's say you cannot get hail insurance if you are in a hail zone or fire insurance in a high risk area, or flood insurance in a high risk area. Let's say those people have to pay a much higher rate or supplimental insurance. Then all of the typical average or low risk insurance rates could go down. Unfortunately their insurance would be so high in many cases, that they could not afford it. So in way, we practice "it takes a village" to ensure that everyone has the opportunity. It's the same principal as paying taxes towards bike lanes, event centers, libraries, or public transit, even if YOU never use that particular thing. It's all for the greater common good. I definitely don't like the idea that bad drivers will see their insurance go down, while good driovers will see theirs go up. You would think that there would be a better mechanism to handle these situations than what seems to exist, but it seems to go back to "it takes a village"

[@Rhdlm-yo1tv]

Village of idiots

[@prairiestrong1106]

This makes me crazy nervous. I may have to give up a vehicle and that pisses me off. Who’s controlling who?

[@nicholasd2719]

Why are accidents up 50%. Explain that metric for me, or are we going to ignore that elephant in the room?

[@freecanadaplease]

Bad reporting, there is no no fault insurance. You can still sue. Its a expantion of section B of your insurance you already have. Watch the news conference clowns. Took me 2 minutes to find out your ignorance.