Ways to save on your car insurance
There are many factors that are considered when calculating car insurance premiums. Insurers look at how you drive, the type of coverage you choose as well as the type of vehicle you choose.
Choose your vehicle carefully
That great deal on a new car might look perfect right now, but will you may want to check to see what your insurance premium will be before you sign on the dotted line. For example, luxury cars can cost a lot to insure because they cost more to repair and replace. Vehicles that are cheaper to repair may cost less to insure. The easiest thing to do is to get an online quote so that you’re armed with comparative information.
- Before you buy, check the insurance rate. Get a quote online or call your insurer before you buy a vehicle.
- Check the vehicle’s rating. Use the Insurance Bureau of Canada’s (IBC) How Cars Measure Up to see which makes/models could cost less to insure.
- Avoid vehicles that thieves want. Check the IBC’s Top 10 Most Stolen Cars in Canada. These may cost more to insure.
- Think about getting an alarm. Most new vehicles do come with some type of an immobilizer, however is the vehicle you are looking at doesn’t, you may want to invest in an anti-theft device to help lower your premium.
Keep a clean driving record
The way you drive has an impact on your auto insurance rate. Drive carefully and you could save money.
- Maintain a conviction and accident-free track record.
- Drive within speed limits. Speeding and other violations may mean you pay more in some cases.
Use your vehicle wisely
The distance you drive and the purpose of your driving is taken into affect when calculating your premium.
Use these tips to help keep your insurance costs down:
- If you have to commute a great distance to the office, maybe think of taking public transit. I.e. Go Transit
- Keep long trips to a minimum. Keep your annual mileage as low as possible.
Review your coverage
You have the choice of selecting the coverages and deductible amount that works best for your situation. But you do need to choose wisely. We want to make sure you and your loved ones are protected.
- Don’t carry more coverage than you need. For example, Uncle Arnie’s old beater might not be worth repairing after an accident. This means you might want to look at canceling or reducing your collision and/or comprehensive coverage.
- Keep your policy current. In some cases you may be eligible for a reduced rate if you’ve been with your insurer for many years. Let your insurer know.
- Increase your deductible. If you’re willing to pay a higher deductible, you may pay less for insurance. Just make sure that you’re comfortable you could afford to pay it if an accident occurs.
- Combine your home and auto insurance. Insuring both your home and auto policies together can bring you added savings.
- Insure multiple vehicles with one insurer. A simple way to increase your auto insurance savings, and enjoy greater convenience, is to consider insuring all of your personal vehicles with one provider.
Spend a little time and shop around
Review your automobile policy annually and shop around! What you think may be a good deal may not be and think about shopping with a direct insurer. Buying car insurance directly from an insurer has many advantages, including affordable rates. At Desjardins General Insurance, our no commission, no fee, low cost structure lets us keep our premiums lower for longer.
Check in with your insurance provider
Life changes can affect your insurance needs. If you haven’t reviewed your policy in a while, it may be a good time to speak to your insurer to make sure you’re getting all the savings available, while protecting yourself and your loved ones.