Time to check in to see if you’re still getting the best car insurance rate.
Now that autumn is in the air, it’s time to harvest some savings on your car insurance because the ways to save are plentiful.
Auto insurance rates, like the seasons, often change and if you haven’t put your rates to the test lately by shopping around there’s a good chance you’re overpaying for your coverage.
Pay your premiums all at once rather than in monthly installments
Many insurance companies charge drivers a little extra to cover the cost of administering monthly payments. If you can afford to pay the cost of your annual premium in one lump sum, you can typically avoid those pesky extra fees.
Drive carefully and maintain a clean driving record
Your driving record is one of the biggest factors in determining your insurance rate. Traffic tickets can raise your insurance rates for three years, and accidents stay on your record for at least six. Over several years, a bad driving record can cost you hundreds, even thousands, of dollars.
Combine policies for a multi-line discount
Multi-line is insurance jargon for what might be better described as, multi-product. Auto insurance and home insurance are different products, and when you buy them from the same insurance company they’ll often reward you for bundling. The discount can range from up to five to 15 per cent off one or even both of your policies.
- Multi-Line Discount Tip: Often people think only a home insurance and auto insurance policy qualifies for a multi-line discount, but there’s actually more to it: Snowmobiles, RVs, motorcycles, or tenant insurance can all usually be bundled to qualify for the discount.
Talk to your auto insurer about winter tires
If you swap out your tires seasonally, make sure you keep your auto insurance provider in the loop. Some insurers offer a winter tire discount that will help lower your premium, usually up to five per cent.
Ask for a list of insurance discounts
Ask your provider for a list of their discounts as there may be opportunities to save money that you didn’t know existed, or that your provider didn’t know to offer you.
For example, is your child away at college or university? If they only drive the car when home visiting, some insurers offer a Student Away at School Discount. Has your teen driver recently passed their driver’s training course? If so, let your provider know because it will likely result in a lower premium as well.
A chat with your insurer about the discounts they offer is a conversation worth having as it could produce significant savings.
Rake in car insurance savings this fall
A change in season is the perfect time to take a second look at your car insurance. Compare insurance quotes to find the lowest rates, review your policy and talk to your insurance provider to see if there’s an opportunity to save.
Updated seasonally to ensure accuracy and relevancy.