The Alberta government says it will pump the brakes on private passenger vehicle insurance rate increases until the end of 2023. 

Alberta has been known to have some of the highest vehicle insurance rates in the country. With rising inflation Albertans are voicing their concern about the affordability of auto insurance for personal vehicles.

While the pause is only until the end of the year, the government is promising to continue to look at short and long-term solutions to ease the pain of high rates. 

Minister of Finance, Travis Toews says, "We share Albertans’ concerns about the rising cost of living during the current inflation crisis. We will continue to meet with members of the insurance industry to find additional longer-term solutions for automobile insurance.”

It is also being asked of insurance companies, by the government, to provide Albertans with the ability to pay their premiums through payment plans as opposed to a large lump sum.