Top Ten Ways to Lower Car Insurance Rates in Canada
Everyone wants lower car insurance rates, and there are a lot of myths and rumors floating around about just how to bring the premiums down. Getting the cheapest car insurance without giving up the coverage you need is absolutely possible, and there are a number of ways to go about it. These top ten tips can help you to pay less every year while maintaining the peace of mind of great coverage, regardless of whether you live in Ontario, Quebec, Alberta, New Brunswick, Newfoundland, Nova Scotia, Prince Edward Island, Yukon, Northwest Territories, or Nunavut, or even a province like British Columbia, Manitoba and Saskatchewan, where a basic insurance policy can be purchased from the government.
Raise Your Deductible
Don't be afraid to carry a higher deductible; it only applies when you use your collision coverage. So the longer you go without an accident, the more money you save. Most people come out ahead in only a few years with a higher deductible.
Double Check If Discounts Apply
Not every discount will be applied to your account automatically. Ask the insurance company for a list of available discounts to determine which ones you might qualify for, and make sure to provide any needed documentation to keep your discounts in place, such as proof of a security system installation.
Combine Your Policies
Combining your auto policy with your home insurance, tenant insurance, or even life insurance and various other kinds of insurance policies can not only reduce your auto insurance cost, it can also reduce the premiums on your other policies. When getting a car insurance quote, ask the insurance company to quote your other policies as well to see if you can save even more on your premiums.
Pay In Full
Many insurance companies offer you a discount if you pay the full amount of your premium at the beginning of the term. You will also save on service fees that are often charged on monthly accounts.
Shop Smart When Buying a Car
When you're shopping for a new car, be sure to consider your car insurance rate on the new car, and not just the car loan payments. Some cars are much more expensive to insure than others, so be sure to check the insurance rates before you buy that new car. By getting a few car insurance quotes first, Canadian drivers can make sure they don't buy a car that will come with an unpleasant surprise on the insurance bill.
Review Your Policy
Reviewing your policy every year before your insurance renewal date can make sure you catch anything that might have changed and could mean a lower rate, like a shorter commuting distance or a car that's been rated with the wrong driver. Car insurance companies don't always catch those things, so keep tabs on your policy.
Drop Coverage You Don't Use
If you never rent a car, there is no reason to pay for rental car coverage. If you've already got a roadside assistance plan elsewhere, such as CAA, you don't need to be paying premiums to have it on your car insurance. Chipping away at the options you never use can result in big savings.
Add Security Features To Your Car
Not only will your car be safer from theft, but a good security system will also earn you a discount on your car insurance. The cheapest car insurance is available to those who are a lower risk to the insurance company; a car less likely to be stolen is a lower risk of a claim.
Use Winter Tires
Using a set of winter tires during the cold months is another way to get a discount on your car insurance. It also makes you safer on the road and less likely to have an accident, which keeps your insurance rates low.
Shop Around Regularly
The best way to make sure you're paying the lowest rate possible is to compare auto insurance quotes regularly. Once a year on renewal is the most common time to do this, but you can shop around as often as you like, and at any point in your policy term.
Educate Yourself About Auto Insurance - It's Not That Difficult
Insurance can be tricky but we can make it simple. Our auto insurance guide can explain things in simple terms. We are here to give you the information you need to make the best decisions to find the cheapest auto insurance rates. Why not give our best car insurance rates service a try, you may find you are paying much more than you have to.