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Secrets to a Low Insurance Rate

June 11, 2009

InsuranceHotline.com updates 30 of the top Canadian insurance company rates every week. And car insurance rates are dropping, especially the rates for good drivers.

Over the past year insurance companies have had record profits and are now actively competing with each other. If you have a good driving record you may want to go to InsuranceHotline.com and compare what you are presently paying, right now, to what is available to you.

Insurance companies can adjust their rates up to four times a year. By the time your renewal comes up, rates can be substantially different.

For good drivers, that could means hundreds of dollars of savings. For families with a couple of cars, who have never had an accident, it can mean thousands of dollars in savings. There is almost a 300% rate difference between 30 insurance company rates for multiple cars and drivers.

Take this rate comparison for example. For a 41-year-old married couple, one driving a 2002 Honda Accord, the other driving a1998 Dodge Caravan, living in Mississauga, both with good driving records.

Clean Records          Lowest Rate      Highest Rate
2 Cars, 2 Drivers        $2,274                 $6,581

The majority of insurance companies want your business and are willing to buy it by offering great rate to get you. For drivers with a couple of tickets or accidents it’s more difficult to find a broker to write you, but be persistent, as you have the most to lose yet the most to gain. Information is power. InsuranceHotline.com gives you that power by letting you know which insurance company has the lowest rate for you.

InsuranceHoteline.com quoted a friend of mine’s youngest brother a great rate. But he had to talk to nine different brokers, all representing that same insurance company, before he finally found a broker that would write the policy for him. It’s not fair, but if you know the rate that’s out there, and the insurance company offering it, it puts you back in the driver’s seat.

If you combine your home and auto insurance together, most companies give a further 10% reduction off your car insurance. For many people that pays for the cost of their home insurance policy!