Many households have multiple vehicles because of the presence of two or more adults, or two people who work with a teenager who is a driver. It doesn’t matter what, if you have more than one vehicle you may be eligible for a discount from your insurance company. Multi-vehicle loyalty discounts can be very beneficial for the average household and save them a lot of money.
Multi-vehicle loyalty discounts are offered by most Canadian insurance companies. It is why it is so important to ensure that all your vehicles are covered. Each car on the policy receives a 10% discount. You can’t get the discount if you have multiple cars on the policy.
Despite the fact that the average discount among Canadian insurance providers is 10%, it can vary between 5 to 15% per car. This is particularly helpful for drivers in Ontario and British Columbia, which are the countries with the highest car insurance rates. An average British Columbia motorist pays $1,400 annually for their car insurance policies. Ontario comes in at $1,350. Which state has the lowest rates? Prince Edward Islanders are the most affordable, paying around $825 per year for coverage. This is a huge difference between the highest insurance and the lowest.
Rates vary because the government has more control over certain provinces. Also, rates are based on specific criteria in each province. However, Ontario is a free market and still pays a lot for car insurance. This is why?
The high insurance rates in Ontario are partly due to the large population. There are more people in Ontario, which means there are more car thefts and more accidents. Other factors include age, driving record and travel time. There is also the issue of multiple vehicles being covered by the policy. This can make a big difference, especially when you consider that most car insurance providers offer a 5-15% discount per vehicle to help Canadians save money on high insurance rates.
Although the rates are high, many Canadian insurance companies offer other benefits, such as multi-vehicle loyalty discounts and accident forgiveness protection. You can get accident forgiveness coverage on all vehicles and anti-theft discounts. They also offer multi-line discounts that can help you save even more money by using one provider.
As you can see there are many ways to beat high car insurance rates. There are also insurance companies who will work with you. It is worth remembering that discounts can be made by making sure all your vehicles are covered under the same policy. Double-check that you are receiving a discount even if you believe you are. Ask your insurance provider about any discounts or moving existing policies to them. This will allow you to save money and keep all your insurance in one location. This will help you to reduce your insurance costs and save money each year.