If one of your friends or family members got a better car insurance premium than you, it isn't because they know someone in the industry, or they got lucky, all they did was follow these 4 simple steps to lower auto insurance premiums:
When it comes to car insurance in Canada, many of us pay too much. If you happen to know someone who has the same driving record as you do, yet they are paying less, it isn't an accident and no the insurance company. What they more than likely did was used these four ways to get the lower rate:
1. RATE COMPARISON
Ummm, let me say state this differently, the SHOPPED! We shop prices for cars, computers, clothes, and these days EVEN gas, but when it comes to car insurance we get the quote from the insurance rep and say "ok" and pay the rate without even shopping it!
There is a couple of reasons why we do this and incidently, they are myths ... here is why we don't shop
Myth #1 - there is no reason to shop because when it comes to the coverage there is no difference between insurance companies, they all charge the same price
Myth #2 - shopping rates is for new drivers who don't have insurance yet or those people who have had accidents or tickets.
Those myths need to be BLOW OUT OF THE WATER! If you believe them it is costing you money!
If your driving record is clean you are probably still paying way to much for car insurance, because car insurance companies DON'T all charge the same, they're rates do very and in some cases they differ a lot.
Take the time to get a Canada car insurance quote
2. Deductibles, consider raising them ...
A deductible is the the amount of the claim that YOU pay and then your insurance company pays the rest if you are involved in an accident. We usually take the lower deductible because of course we want to pay less out of our pocket and have the insurance company kick in more. Good in theory, but, of course it doesn't work that way, we are still paying in a higher premium. If you go with a higher deductible it lowers your premium, I mean we aren't in accidents every day right? So, why not elect to pay the higher deductible in order to save over the long run on our rate?
3. Discount, hey do you offer any ...
There are many insurance discounts you can take advantage of, here are ones to ask for:
age - when you hit 25 the rate drops, there could be other breaks as ask!
Multi-vehicle discount - more than one car insured with the same company
Multi-line discount - insure the car, house, cottage and boat and get a break if it is with the same company
Anti-theft discount - get discounts based on the anti-theft devices you have
Low mileage discount - you're a lower risk if you don't drive that much
Occupational discount - depending on the line of work you're in you may be one
Auto club discount - CAA or some of the other auto clubs have discounts.
The key here ... If you don't ask, you don't get!
4. Watch your driving, ...
I know, I know, things happen when you're on the road. However, keep in mind that in figuring out your insurance rates your driving record is the key factor insurance companies use. The accidents you happen to get involved in that are your fault and the traffic tickets all factor in and remain with you for a long time, so pay attention to what you're doing!
Insuring our car is a must in Canada, it's the law, but, if you follow the four
We ALL have to pay car insurance in Canada, that's the law. However, we DON'T have to pay huge car insurance premiums, take the time and use the 4 keys above you can save on car insurance in Canada!
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