How to Save on Car Insurance in Canada

Car insurance premiums can take up a fair part of any car owner’s budget. It is no wonder we see so many advertisements making over-optimistic promises about saving money on your car insurance – these companies know that is what every driver wants to hear. As we will explain, however, there are some safe bets that really do help you to save on your premiums.

Start Bundling Insurance Plans

Bundling is an excellent way to save money on any type of insurance. It works well for most people. If you purchase more than one insurance product from the same company, you will almost certainly be eligible for some sort of discount. The more policies that are bundled together, the more you will save.

Whether you choose to take out a car insurance plan with one of your existing insurance providers such as your home insurer, or perhaps switch your other existing policies to your current car insurer, bundling could translate into the best savings possible.

Insurance Comparison

To get a great deal with bundling, and most other types of discount for that matter, car insurance comparison is very important. If it’s been more than a year since you last checked the available range of car insurance premiums and policies, you might be missing out on competitive options.

Perhaps the best way to keep an eye on the car insurance market is to use the Internet to compare insurance policies. The World Wide Web can be indispensable for any type of comparison-shopping. You should have no problem finding plenty of car insurance options, and then getting quotes to suit your budget.

Seeing what’s out there online is a great way to keep tabs on the market. You never know when there might be better options for your car insurance needs.

Control the Things You Can Control

“What? The things I can control?”

It may sound odd at first, but you have the power to control your premiums, at least to a degree. The most obvious way you can keep premiums down is through your driving record and habits. Lower risk means lower premiums. If you have a clean record, or perhaps only drive your car occasionally, your premiums will be quite a bit lower than a frequent driver with a history of traffic violations.

You might also consider car accessories and upgrades that would make you eligible for different discounts. For example, a security system or alarm for your car might make you eligible for a discounted premium. From the make and model of the car you insure to your driving habits and history, you have plenty of ways to lower your car insurance premiums.

Get Ahead

Effectively planning and managing your finances plays a prominent role in saving money on other vehicle-related costs too.

For instance, opening up a savings account for your car could be a great way to save on both predictable and unexpected auto expenses. Imagine if you had plenty of money in the account for deductibles, uncovered costs, and later premiums. By gaining interest and building up an emergency fund in the account – just in case – you are getting ahead of your car insurance costs.

Cheaper Car Insurance or More Benefits?

It’s the golden rule that’s worth repeating: always take the time to look into the policies and premiums available to you before you make your choice. Compare not only the prices and discounts, but also the features and benefits of each policy, to make sure that you get the best policy rather than merely the cheapest.