How to Find the Cheapest Car Insurance in Toronto
The cost of living in Toronto is very high when compared to some smaller cities, but there are some ways to substantially reduce your monthly bills if you drive. Obtaining the cheapest car insurance in Toronto is one of the ways Toronto drivers can cut back on expenses. To reduce your insurance premiums without sacrificing coverage, there are a few basic tips and tricks that are the simplest and most successful if you really want to get the cheapest auto insurance in Toronto. It's important to understand what affects your insurance rates as well as how you can impact them.
Where You Live, Where You Drive
Your home address is one of the factors that affect your insurance rates. While it's probably not worth moving simply to reduce your insurance costs, if you are planning a move, it's a good idea to find out how it will affect your rates. When comparing one area of town to another, request an insurance quote to find out how each area stacks up in terms of rates. Different parts of the city and the suburbs may have vastly different rates based on the statistics regarding theft, accidents, and vandalism in the area. It's just one of the many factors to consider in a move.
How far you drive each day is also a consideration. Your commuting distance has an impact on your insurance rates. One of the best ways to substantially reduce rates is to avoid commuting to work with your car altogether, and instead, use public transportation. That's not always an option for everyone, but it's something to consider when you are looking to get the cheapest car insurance in Toronto. Commuting distance is also something to keep in mind when you are considering a new job.
Raise That Deductible
Many people are worried that raising their deductible will mean they won't be able to afford the cost in the event of a claim. The truth is that raising your deductible is one of the easiest and most risk-free ways to get the cheapest car insurance in Toronto.
Your deductible is something you only have to pay in a few specific circumstances. The first is if you are involved in an accident where you are at fault. The second is in the event of a comprehensive claim such as a theft or a broken windshield. Because comprehensive coverage is separate from collision and both are optional, you can often choose two different deductibles for the two options. That means you can leave the comprehensive deductible lower if you want to – in most cases the big savings are from the collision deductible. In that case, it's only when you are found at fault in an accident that you have to worry about that deductible.
If you go a few years without an at-fault accident, as most good drivers will, you have already saved more money in most cases than you would have to pay out on the deductible. The longer you go without such an accident, the more you save – money in your pocket that more than makes up the difference in the deductible should you ever have that claim. You get some of the cheapest car insurance in Toronto and save that money for as long as you go accident-free.
Shop Your Rate Around
There are a large number of insurance companies available to serve Toronto drivers thanks to Ontario's private insurance system. Many auto insurance companies are all competing to earn your business, which means there is likely a company that can offer you a better rate on your coverage.
The key to shopping around for a new car insurance company is to make certain that you have a fair comparison on your hands. You want to be sure the rate isn't just the cheapest car insurance in Toronto because it's also the lowest level of coverage. To be certain that every quote you get provides the same level of coverage as the rest, request quotes from a variety of companies with the same level of coverage as you currently have. That will allow you to be sure it's a better deal than your current policy.
Online quoting services such as the one at icandrive.ca allow you to obtain multiple quotes quickly and easily, without having to enter your information repeatedly. It's a good idea to check rates yearly on your insurance policy renewal date.
Getting the cheapest car insurance in Toronto is often a personal thing – the best deal for each particular person is specific to their needs. Take the time to figure out what you really need in your car insurance policy, and then search for the best price on that particular combination of coverage options. Toronto drivers can save a lot of money by following these simple tips, and get cheap Toronto car insurance without having to give up any of the coverage they need.