How do I get the best auto insurance rates?
.png)
Auto insurance rates vary across different providers and are based on several factors like driving experience, demographics, geography, and previous insurance coverage. It’s important to do your research when choosing the right insurance company to cover you.
Getting the best auto insurance rates requires a couple things:
- It depends on where you live — Different areas in Canada will have higher car insurance rates. You may want to consider this when signing up for auto insurance in Canada.
- A good driving record — Take responsibility and maintain a good record. Not only will it help you stay safe, but maintaining a clean record will also help you save you some money by helping you avoid potential accidents resulting in vehicle damage and injury.
- Asking for higher deductibles — If you’re financially able to do so, increase your deductible so that if something were to happen, you could pay immediately. Higher deductibles generally result in lower car insurance costs.
- Shopping around — Comparing rates will help you choose the best insurance company for the coverage you’re looking for. A licensed insurance advisor can help do the shopping for you and guide you if you have any questions.
- Bundling home and auto — Take advantage of any offers to combine insurances. When you choose to go with the same provider for more than one type of insurance, you can generally get them together for a discounted price.
Here are some other helpful tips:
- Check with your advisor to see if you qualify for any additional discounts
- Considering going to driving school
- Work on improving your credit, some provinces offer aggressive discounts based on having a good credit score.
- Tickets and claims are two large factors insurance companies look at when providing rates. The more years you go without filing a claim the better; most companies give more attractive discounts to those with six (or more) years of claims free road time. For tickets the optimal time frame is three (or more) years.
- Ask for higher deductibles
- Reduce coverage on older car