5 Ways To Lower Your Car Insurance Premium
If you weren’t already aware, Ontario has some of the highest car insurance rates in all of Canada! This is why many Canadians living in Ontario want to save as much money as they can when buying car insurance. That is why we put together this list of the 5 most effective ways to save money on your car insurance.
1. Pick Your Car Wisely
If you are looking to buy a new car, you may want to shop around for cars that have good safety ratings because some qualify for lower car insurance rates than others. Also, some may think that buying a more expensive car will result in a higher insurance premium, but that is typically not the case. Most often, expensive cars are cheaper to insure because they are relatively safer. So, if you don’t have a specific car in mind that you are looking to purchase, you may want to look into buying one that would be cheaper to insure.
2. Keep Your Driving Record Clean
This is an obvious one, but this is the biggest way of keeping your car insurance premium down. A ticket/conviction, such as a speeding ticket, stays on your insurance record for 3 years. Meanwhile, an at-fault accident stays on your insurance record forever. Both of these can significantly impact your car insurance premium and increase your rates. So, follow the rules of the road to keep your car insurance price low.
3. Bundle Your Car and Home Insurance Together
By having both your car and home insurance policy written with the same insurance company, you will likely get a discount on your premiums for doing so. Our licensed brokers will always try to bundle your car and home insurance if possible, so they can save you some money.
4. Talk to an Insurance Broker
An insurance broker can shop around with different insurance companies in order to find you the best rates for your car insurance. At PrimeService Insurance, our brokers will have your interests in mind, so they can provide you with a great car insurance policy that meets all of your needs. If you are in need of car insurance or simply just want to compare your rates, then you can always contact one of our licensed brokers. You can even get a car insurance quotecar insurance quote on our website to get an idea of how much you should be paying.
5. Ask About Discounts
Some insurance companies may offer discounts to your car insurance policy if it is applicable to you. For example, CAA offers a 5% discount on a car insurance policy if the person installs a car plug-in that uses telematics to track their driving behaviour. This can lead to an even bigger discount if the plug-in records good driving behaviour after a year of having the plug-in installed. There are other specific discounts that can help you save money on your car insurance and our licensed brokers would be happy to share them with you.
Everyone wants to pay a lower price for their car insurance, which is why following these 5 steps may help you lower your rate. If you would like to learn more tips of how you can save money on your car insurance, you can talk to one of our licensed brokers. They would love to provide you with the help you need.