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Boxing Day Sales Can’t Beat What You Can Save On Your Car Insurance

December 16, 2015

Compare to save. It’s a one-two savings punch on your car insurance.

Boxing Day is synonymous with saving money (even though you’re spending it to do so). Why not spend a few minutes instead to see if you could save money on your car insurance?

Cheaper Car Insurance Rates

Since August 2013, it’s been estimated that Ontario car insurance rates have decreased about seven per cent (6.96 per cent to be specific). This is good news for consumers, but it’s great news for drivers who shop around.

Compare To Save

Car insurance rates are changing, and there’s money to be saved as a result—if you shop around. For the sake of convenience, you may be tempted to wait it out until you get your renewal to see what happens. But why wait for the savings to come to you? Rates have changed and if you haven’t compared auto insurance quotes lately, there’s a good chance you’re overpaying. Compare car insurance quotes today to possibly save more than any deal you’ll get on a Boxing Day sale.

  • Found a better rate? Before you cancel your old policy do the math first. If you switch car insurance providers mid-policy, you’ll likely have to pay a cancellation fee. Make sure the savings with your new insurer offsets the fees you’ll have to pay out to your old insurer. If it doesn’t, it may be better to wait until your policy is up for renewal.

How Much Can Be Saved?

No single car insurance company offers the best car insurance rate for everyone. Every car insurance company calculates their rates differently on factors like where you live, your driving and insurance history, your driving record and the vehicle you drive. The proof is in the car insurance quotes; the range in rates available between insurers can swing from a few hundred dollars up to a thousand.

Consider the difference between the highest and lowest quotes recently compared through InsuranceHotline. We picked a few cities across Ontario, and popular vehicles, to see how much can be saved (or overpayed) depending on the insurer’s online quote:

  • 25-year old living in Ottawa driving a Toyota Corolla. The difference: $590
  • 30-year old living in Peterborough driving a Hyundai Elantra. The difference: $533
  • 35-year old living in Cambridge driving a Ford Escape. The difference: $442
  • 40-year old living in Toronto driving a Honda Civic. The difference: $1,125
  • 45-year old living in Ajax driving a Dodge Grand Caravan. The difference: $603
  • 50-year old living in London driving a Chevrolet Equinox. The difference: $471

This Boxing Day Shop To Save

Let us help you find lower car insurance rates, compare quotes today.