Monday, July 15, 2013

Saving on car insurance

We all know that it’s illegal to drive a car or any motorized vehicle without valid car insurance. Car Insurance is extremely important for many reasons but paying more money for insurance over another insurer doesn't mean you’re getting better service. The rule “you get what you pay for” DOES NOT apply here. You want to make sure you’re getting the coverage you need at the best rate possible. Some Insurers charge twice as much as others for the very exact coverage but there are some factors for you to consider that will impact your premiums and allow you to save on car insurance.

Here are just a few factors to consider:

· Insurers don’t advertise prices so don’t assume that you’re getting the better rate. You must research for the lower cost. Each insurer prices differently for different customers.
· If you’re thinking about purchasing a car, contact insurers to inquire which cars are cheaper to insure then use this information in your search. Considering a car which is cheaper to insure can save you money in the long run.
· Choosing the right driving school for when your child is ready to drive will not only ensure they get the proper training which will ease your mind when they’re behind the wheel but you’ll also save on your car premiums.
· If you have more than one vehicle it may be wise you insure them both with the same insurance provider. This stands true for any additional insurance you may have such as homeowners insurance or condo insurance.
· Consider changing your deductible. If you’re able to afford having a higher deductible should something happen to your car then it may be wise to change your deductible from $500 to $1000 for example. This will lower your insurance premium.
· If you have an older car with high kilometres and in bad shape then you may want to discuss with your insurer cancelling collision insurance to save money. If you’re car is worth less or equal to your deductible you may be able to save that money and put it towards a newer car.
· Traffic tickets have a big impact on your premiums and can end up costing you more than double what you’re currently paying so drive carefully.
· Notify your insurance company if you’ve moved to a safer neighbourhood or are now working from home. Both these factors may save you on your car insurance.

The above may take extra time but it’s the best way to ensure that you are receiving the best car insurance rate possible. For more valuable information, please visit

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