It’s not because you know someone in the industry or that they were lucky. All they had to do was follow these four simple steps to lower their auto insurance premiums.
Many Canadians pay too much for car insurance. It doesn’t matter if you know someone with the same driving record and they pay less. They likely used these four methods to lower their rates.
1. COMPARISON OF RATE
Let me clarify this: the SHOPPED! We compare prices on cars, clothes, and computers. But when it comes time to purchase car insurance, we simply get a quote from an insurance representative and then pay the rate.
There are a few reasons we shop, but they are myths. Here is why.
Myth #1: There is no need to shop for insurance because there are no differences in the prices of the coverage.
Myth #2: Shopping rates are only for new drivers or people with tickets or accidents.
These myths must be BLOWN OUT OF THE WATER! It is costing you money to believe them!
Even if your driving record is clean, you may still be paying too much for car insurance. Car insurance companies don’t all charge the same rates. In fact, some of them have different rates.
Take the time to get Canada car insurance quote [http://www.insurmycar.ca/quoteme.html].
2. Consider raising your deductibles
Your deductible is the amount you pay for a claim and your insurance company will pay the remainder if you are in an accident. Because we want to pay less out-of-pocket and have the insurance company cover more, we usually choose the lower deductible. It sounds great in theory but it isn’t working that way. We still pay a higher premium. A higher deductible will lower your premium. After all, we don’t get in any accidents every day. Why not choose to pay a higher deductible to lower our long-term rate?
3. Do you offer discounts?
There are many insurance discounts that you can get. Here are some:
Age – When you reach 25 the rate drops. There could also be other breaks…just ask!
Multi-vehicle Discount – More than one vehicle insured by the same company
Multi-line Discount – Insure your car, house and cottage, and receive a break if they are all with the same company
Anti-theft Discount – Get discounts based upon the anti-theft device you have
Low mileage discount – You’re less likely to be involved in an accident if you don’t drive as much.
Discount for occupational work – This discount may vary depending on your line of work.
Discounts for auto clubs – CAA and other auto clubs offer discounts.
This is the key… If you don’t ask, you don’t get!
4. Pay attention to your driving…
You’re not alone. Things happen. Keep in mind, however, that insurance companies will use your driving record as a key factor in determining your insurance rates. Your driving record, traffic tickets and any accidents that you are involved in are all factors and will be with you for a long period of time.
Canada’s law requires that all Canadians have car insurance. We don’t have to pay high car insurance premiums. Take the time to use the four keys below and you can save money on Canadian car insurance.