Car Insurance Comparison: 5 Things to Consider

Auto insurance is something every Canadian driver must carry by law. Beyond the mandated minimum legal coverage, every other cost associated with your insurance policy coverage is flexible. Most people have heard that car insurance comparison can save money but that is not the only reason for insurance comparisons.

If you live in Ontario, Quebec, Alberta, New Brunswick, Newfoundland, Nova Scotia, Prince Edward Island, Yukon, Northwest Territories, or Nunavut, auto insurance is private or partially private in the case of Quebec. In a province like British Columbia, Manitoba and Saskatchewan, a basic insurance policy can be purchased from the government, but additional coverage can be purchased through private insurance providers.

Here are 5 reasons to comparison shop for your motor vehicle insurance in most Canadian provinces.

Auto Insurance Comparison, Because Competing Providers Offer Different Rates for Similar Coverage

Each insurance company uses their own formula to determine what they charge a policyholder. That means that two companies may have different rates for the exact same driver. There are many factors that go into determining a rate. Each company will weigh those factors differently. For example, to one auto insurance company, the insurance for your particular car may be more expensive because their statistics show it's stolen more often than other makes and models. Another car insurance company may not have the same numbers, and may rate your particular car at a lower premium.

Vehicle Insurance Companies can Cater to Problem Driving Records

Don't think that tickets or accidents on your record mean it's not worth a rates comparison. Some auto insurance companies offer better rates to drivers with flags on their record which can save you money. In fact, a rate increase due to a ticket or accident is often a good time to compare insurance rates. You might be surprised to find that not every insurance company is going to make working off that ticket a painful experience.

Insurance Quote Comparisons Show that You Could Get More For Your Money

If you think you'll have to give up coverage to get a better rate, you are in for a surprise. Not only are you likely to save without giving up anything at all, but in some cases you could get better coverage and still see a drop in rates. That means that you could increase your liability limits, add extra options, choose a lower deductible and save on premiums. When it comes time to file a claim, you will be glad to have the extra coverage in place.

Insurance Rate Comparison - Because Rates are Always Changing

Seeing your insurance rate rise every time your policy is renewed is a reality for many people. But it's not something you have to live with. Some companies have rate hikes on a yearly basis as they review their claims for that year. They may also change the way they assess the risk for certain things. That means that the company that gave you a quote last year could give an entirely different quote this year. Even if you have taken the time in the past to compare auto insurance rates, Canadian insurers change their rates all the time. In fact, it's well worth doing a yearly rate check to see what is out there and what might have changed. Just because your current insurer raised your rate doesn't mean someone else might not lower them.

It's Not Only About Money

Most people do shop around in order to get a better rate, but what about shopping around for a better company? Saving money is something everyone is after, but finding an insurance company that offers good customer service and has a great reputation for how they handle claims is also a big consideration. If you haven't been happy with your current company, or even if you have been satisfied but have heard some fabulous customer service stories about other insurance providers, it's worth finding out what those other companies are offering. Start with a quote comparison. If the company that has high satisfaction ratings can also give you a good deal on your coverage, it could be worth switching.

Car Insurance Comparisons: A Great Way to Find the Cheapest and Best Coverage

Because consumers can get online auto insurance quotes for free, comparing the quotes that insurers are offering on a yearly basis simply makes good sense. If it's been a while since you did a rate comparison, then it's a really good idea to take the time. There are a lot of good reasons to compare rates. You could get cheap Canadian car insurance with great coverage as well as excellent customer service. That's a lot of possible improvement for not much investment of time and effort. With our internet quote systems, you can obtain and compare insurance quotes quickly and easily, and find out how much less you could be paying and how much more you could be getting from your policy.