How to Get the Best Value Out of Your Auto Insurance
Posted by on Jan 29, 2016 in
Are you paying more than you need to for your car insurance? It’s more than an attention-grabbing headline: it’s a question you should ask yourself. Here are some tips to help you reduce your insurance bill going forward.
- Make Use of a Broker: An insurance broker can be your best ally in hunting down an insurance policy that both fits your needs, and won’t break the bank. The difference between an agent and a broker is that an agent generally works for one specific insurance company, while a broker acts on your behalf – independent specialists that shop around and find their clients the best policies for them. In the auto insurance arena, rates can vary greatly from one insurer to the next, so using a broker is a good way to help level the playing field.
- Ask About Combining Home & Auto: Insurers want your business… and if they already have one part of it, they want more of it. Almost all insurers will offer discounted rates if you do multiple insurance policies under them. So if you have home insurance already, ask about your options for insuring your vehicle.
- Inquire About a Winter Tire Discount. Did you know that insurers in Ontario are now offering a discount on your insurance for making use of winter tires? It’s true. Check out our recent post for more information on the Ontario winter tire discount.
- Claims forgiveness, sometimes called accident forgiveness, may be available to you if you have a good driving record with some insurers. What this means is that the first collision or incident you have while driving under your policy, in most cases, will not affect your insurance Claims forgiveness can be a nice buffer to have against higher insurance rates for responsible drivers.
- A clean and conviction-free driving record can be your best asset when buying insurance. The top factor that will determine your rate is the history of accidents and convictions on your record. Build up a good driving history, and you’ll see it pay off big time over the long run, in the form of lower premiums.
- Never Be Afraid to Ask Questions or Clarify. If you’re not clear on what your policy entails, it’s better to check with your insurance company. When it comes to your insurance, there are no silly questions! Other discounts may apply for:
- Multiple vehicles: insure more than one vehicle with the same insurer for a discount on each.
- Your age and experience behind the wheel can play a big factor in your insurance rates.
- Low mileage or short commute.
- Increasing your deductible.