With the continuous rise of auto insurance rates in Canada over the last couple of years, drivers are becoming increasingly frustrated with costly insurance premiums. From home expenses, to gas and electricity bills, today’s living expenses can add up quickly. Yet, not all hope is lost when it comes to rising auto insurance rates. Despite the increase of insurance premiums in Ontario, drivers can still take matters into their own hands and save their hard-earned dollars. With these five tips, Canadian drivers can leverage insurance discounts and save money!
- Group Home And Auto Insurance
Investing in the right coverage for your home and auto insurance can be costly. If you have currently acquired home insurance from a different insurer than your auto insurance, consider purchasing both insurance policies from one insurer. Save on your insurance policies by grouping your home and auto together. Discover our group auto and home insurance package!
2. Protect Your Vehicle
According to the Insurance Bureau Of Canada, every 7 minutes, a car is stolen in Canada. With the rise of auto theft, investing in an anti-theft device not only protects your vehicle but can also lower your auto insurance premium. Talk to your insurer about which anti-theft devices qualify for a discount!
3. Combine Policies
If your household currently owns more than one vehicle, take advantage of the discount by merging all vehicles under one insurance policy. A multi-vehicle insurance policy offers a discount on every car that is under that policy.
4. The Type Of Vehicle Matters
This is particularly important for Canadians who are considering purchasing a new car. Larger vehicles such as SUVs and trucks will require a more comprehensive insurance policy and a higher insurance rate. Similarly, certain car models are more expensive to insure than others. Before purchasing a new vehicle, contact your insurer to discover which car models can help you save on your insurance premium.
5. Assess Your Current Policy
Take a look at your insurance policy and assess which coverage is not necessary and can be removed. For instance, certain types of coverage may not apply to your vehicle and can be removed to reduce your premium rate. Contact your insurer to discuss which coverage can be removed from your policy.
The Bottom Line
With the continuous rise of auto insurance rates in Canada, these tips can help you decrease your insurance premium and save. If you would like to discuss your current policy and find out what other insurance discounts you qualify for, contact our trusted team today! Curious for more auto insurance tips? Visit our blog for more insights!