Although quarter-over-quarter figures suggest there might be some relief in sight for consumers, year-over-year, premium rates for personal auto and personal property insurance continue to trend upward, according to the most recent Applied Systems’ Applied Rating Index reading.
The report of current conditions and premiums trends is based on more than 1.3 billion quotes completed during the periods being studied. Applied Systems says the index reflects business from more than 80 per cent of the brokerage market.
According to the report, The Canadian insurance industry’s premium rate index, quarter-over-quarter, premiums decreased for personal auto in all provinces, except Alberta. Personal property premiums increased in all provinces except British Columbia and Quebec.
Comparing the first quarter of 2026 to the fourth quarter of 2025, personal auto premiums decreased 0.8 per cent. Personal property during the same period comparison increased 2.4 per cent.
Year-over-year figures, however, tell a different story: Personal auto premiums increased 11.1 per cent when compared to the first quarter of 2025. The personal property premium rate change was 8.6 per cent.
Year-over-year, all provinces reported higher personal auto premiums, with Alberta reporting the highest at 21.3 per cent and Quebec the lowest at four per cent. In personal property lines, all provinces increased year-over-year – Alberta had the highest increase of 16.2 per cent, while British Columbia and Quebec personal property premiums increased just 1.6 per cent and four per cent, respectively, year-over-year in the first quarter of 2026.
