PEI Auto Insurance Rating Factors & CLEAR Vehicle Groups
PEI auto premiums can differ by insurer because approved rating systems use driver and vehicle characteristics. IRAC identifies factors such as driving record, location and kilometres driven, while also reviewing vehicle rate-group table updates such as CLEAR.
What to know
Confirm the current PEI policy, legislation or IRAC decision before applying this point to a personal situation.
Confirm the current PEI policy, legislation or IRAC decision before applying this point to a personal situation.
Confirm the current PEI policy, legislation or IRAC decision before applying this point to a personal situation.
Confirm the current PEI policy, legislation or IRAC decision before applying this point to a personal situation.
Location can matter in PEI private-market pricing
IRAC's consumer FAQ lists where a driver lives among the factors that can affect premium. That is a rating input, not enough information to publish a citywide average premium without a defensible dataset.
Vehicle claims experience is another input
IRAC provides a dedicated process for rate-group table updates and links consumers and industry to CLEAR. Vehicle make, model and claims-cost experience can therefore help explain relative physical-damage risk without being converted into a personal annual quote.
Shopping can matter because companies differ
The PEI government and IRAC both note that coverage and cost can vary across insurers. Comparing equivalent limits, deductibles and endorsements is more meaningful than comparing headline premiums with different coverage configurations.
Verify the current PEI rule
Insurance legislation, approved rates and policy wording can change. Use the primary source below when making a purchase, renewal or claim decision.
Island Regulatory and Appeals Commission — Auto Insurance FAQs →