5 ways to lower your car insurance bill for the holidays

During the holidays, it’s likely you’ll have many expenses to spend your hard-earned money on, such as food and gifts. And while auto insurance is a necessity, that doesn’t mean you should be paying more for it.

Here are five simple ways to save on your car insurance.

Shop around for a better rate

Alongside all the shopping you will be doing for the holidays, take the time to shop for a better rate. The fastest and easiest way to get a lower rate from the comfort of your home is to request a few car insurance quotes. Simply visit InsuranceHotline.com and complete three easy steps. After comparing more than 30 insurance companies, you will be provided with the lowest available rate.

Anyone can save by taking the time to shop around — and you’ll have no obligation to accept the rate. So why not complete a quote?

Take advantage of winter car insurance discounts

Taking some winter precautions for your car does a lot more than keep it safe on the road; it can also mean a lower insurance rate.

In Ontario, car insurance companies must offer up to a 5% discount on your annual premium if you use winter tires, which provide you with better traction while driving. Contact your insurance company to find out the types of discounts offered when you get your car ready for the winter weather.

Review potential changes to the rating of your policy

Just before the holidays is a great time to contact your insurance provider to review your policy and find out what might lower your premium. Things may have changed in your life since the last time you reviewed your car insurance information — and if your insurance company doesn’t know about it, you may be missing out on some savings.

Questions to ask yourself include: have you started working from home? If you no longer commute, you could qualify for a better rate. Have you retired and no longer drive as frequently? Has a ticket or accident come off your record? These types of things can make a big difference and you may not realize it until you actually take the time to go over your current policy.

Rethink your deductibles

Carrying higher deductibles on your comprehensive and collision coverage can make a big difference in your insurance rate. This means that you will take on the risk of paying a higher amount out of pocket if you make a claim and are found to be at fault; however, if you go a few years without an accident or claim, you can make up the difference.

Talk to your insurance company about your deductible options. By making the change now, you can put a little extra money in your pocket during the holiday season. And rest assured, you can always change the deductibles back later if you decide it’s not worth the risk.

Ask about new or additional discounts

Car insurance companies add new discounts periodically, but they may not automatically apply them to existing policies. If you see your car insurance company advertising a discount for which you should qualify, call them and ask for details. Or simply call and ask for a current list of the available discounts and compare them against your current discounts. Ensuring that you are getting all the discounts for which you qualify is one of the easiest ways to see a quick reduction in your insurance rate.

Holiday expenses can be hard to control, but if you take some time to look at the expenses within your control, such as car insurance, you can find a little more room in the budget for this holiday season.

After all, a low car insurance rate is the gift you can give to yourself that will last throughout the entire year.

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