Auto insurance companies in Alberta will save a bundle thanks to COVID-19


Auto insurers in Alberta could save as much as $745 million in claims in 2020, according to a new report by an insurance watchdog.

The study from estimated car claims in Alberta dropped by 32 per cent during 2020 as the COVID-19 pandemic kept many drivers off the road.

According to the Insurance Bureau of Canada, full data on claims in 2020 won’t be available until sometime next year.

“We do recognize that during the pandemic people have been driving less, claims are down,” said Aaron Sutherland, a vice-president of the IBC.

Calgary led all Alberta municipalities in reductions to claims, according to the study, accounting for $231 million in auto insurance savings — nearly a third of total claims the previous year.

The Calgary Police Service noted a similar decline in reported vehicle collisions of about 35 per cent in 2020. Through the end of October, police logged 20,363 reported collisions, compared with 31,765 the previous year.