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Originally Posted by Wolven
That makes sense and it would explain the difference in the two graphs. The public auto insurance in BC wins that graph and the private home insurance in BC is middle of the pack.
It does still suggest that the best path forward is to create public insurance options and undercut the market. Perhaps a federal public insurance option to cover the whole country would be the solution so that the differences between jurisdictions is eliminated.
A federal insurance company would be an interesting argument for bringing down the trade barriers between provinces.
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A major consideration is that many public systems have removed consumer rights. Specifically, many of those are no-fault jurisdictions, where you cannot sue in the event of an accident. I disagree with that, personally, and while the coverage is cheaper, it comes at a cost.
And as far as property damages go, it can't be denied that Alberta has some different issues on that front compared to some other provinces. We don't suffer from the same flooding or similar issues as others do, but we have a significant risk for hail and those events. As a result, enormous amounts can be paid for damages here, impacting your premiums, whether public or private.