Six Steps to Save On Your Car Insurance Now!

Just because you must have insurance on your vehicle, doesn't mean that you should have to pay the highest premiums for your coverage. Following a few simple tips can help you reduce the cost of your insurance premiums and receive more competitive car insurance rates.

Tip #1 - Raise Your Deductible

Your deductible is the payment that you're responsible for in the event that you have to make a claim against your insurance policy. Your insurance provider offers different options as to the deductible you will be responsible for when you're choosing your insurance coverage. Choosing a $1,000 deductible over a $500 deductible will result in a decrease on your annual premiums. But, no matter which deductible you choose, ensure that in the event you need to make a claim, you can afford to pay that sum.

Tip #2 - Theft Deterrents

If your vehicle came with a standard, factory installed anti-theft device, your insurance provider will have included that to your benefit when calculating your premiums. But, if you've installed an aftermarket anti-theft device on your vehicle; you may qualify for an additional discount on your premiums. Make sure you advise your insurance company if you make changes to your vehicle's security or safety equipment so that they can give you the appropriate discounts.

Tip #3 - Combine Insurance

When you choose to buy your home and car insurance together you can take advantage of significant savings, often between 5-10% of your annual auto and home insurance premiums. On the same note, make sure that if you have more than one vehicle that you insure them both with the same provider for additional savings!

Tip #4 - Change with the Seasons

Winter driving is made significantly safer for vehicles using proper snow-rated tires, and some insurance companies are willing to discount your car insurance in Canada if you install winter tires on your vehicle when the time comes.

Tip #5 - Keep Low Mileage

Some insurance providers automatically assume that you use your vehicle to commute to work each day, and will even inquire what the distance of the commute is. If you take transit or carpool then you may qualify for a low mileage discount on your annual insurance. Additionally, if your annual mileage on your vehicle is low, make sure you advise your insurance provider - as some providers will lower your premiums for vehicles that are driven less.

Tip #6 - Find More Discounts

There are numerous discounts available through almost any insurance provider, but you have to inquire, and know what to ask for. Here are a few other types of discounts that you may want to inquire about:

Age: Some insurers award discounts at certain age milestones - particularly at age 25 for younger drivers, and there are often discounts for older drivers. Statistically, older drivers are less likely to cause an accident, as they have usually had additional years of driving experience.

Profession: Discounts may be available to you if you work in a particular field or have a particular professional designation. Ask your insurer about these types of discounts.

Group Affiliations:If you belong to a group or association, including employer groups, trade unions, or alumni associations. Ask your provider if they offer an additional discount, or contact the organization's administration and inquire if they have negotiated discounts with a particular provider.

Online Purchasing:When you buy online, insurance providers can save on their costs, and they often extend these savings to the policy holder. Look for companies who offer an online purchase discount.

CAA:If you belong to CAA, another auto club, or a specialty vehicle club, it's worthwhile to find an insurer who offers a lower premium based on your membership. Auto clubs often have negotiated rates with particular insurance providers - check your membership package or inquire through their customer service to find out where you might get a better rate.

With the number of automotive insurance providers in the market, there's no reason not to look around for the best rates on your car insurance premiums. Make sure that you look for a company that offers you insurance that fits your needs for a reasonable cost. If you're concerned that you might not be getting the best rates, start getting competitive insurance quotes today!