As you may already know if you are a car owner in Canada – and more specifically in this case in Ontario, it is necessary that you have auto insurance. While you could choose to go out and apply for the first insurance plan you come across – there may be a bit of a flaw in this particular course of action.
For starters, by jumping at the first insurance policy you encounter you are likely to pay higher fees and not necessary get the most suitable insurance premiums for your needs. That being said, if you currently have debt and bad credit then do you really want to pile even higher monthly bills on top of that? I’m guessing this is not the case and since you will be needing car insurance – why not find out how you can get the best deal you can on auto insurance in your province.
1. Shop Around for Online Quotes & Offers
While the specific features covered by insurance policies are mandatory in individual provinces, the premiums themselves will vary drastically from one company to the other. Sometimes, the difference in price can even be as varied as a thousand dollars. When you think about it, this is a lot of money, right? Therefore, since no one really wants to spend more than they have to, then why not spend just a little bit of extra time shopping around, inquiring after quotes and various rates.
You can start by searching online for rates and prices and through this method of comparison you can identify the best price. Even if you have certain factors, such as a previous poor driving record – it still can be possible to find a premium lower than the one before as some insurance companies will calculate their own prices and weigh these factors in slightly differing manners. In the end, this can prove to be a resourceful strategy of saving yourself some extra money with each auto insurance payment you make.
2. Watch for Special Insurance Discounts and Packages
If you are looking to save some money on your auto insurance, an additional method of do so is to keep an eye out for various discounts. If, for example you have more than one vehicle that you will need to insure, this may mean you can take advantage of the multi-vehicle discount that some companies will offer. By insuring multiple vehicle’s on the same policy this can then also help you save.
Other available discounts may apply in the instance you are in the position to insure both your home and your vehicle with the same insurance company. While it does mean that the company will benefit by having more of your business, if you have to have both of these assets insured, then why not go ahead and save some income for both of these insurance plans.
If this particular plan of combining your insurance is not an option for you however, perhaps because you have only one vehicle, then keep in mind you can still look for other types of discounts that may be offered through different companies. Either way, the point is – there are better deals to be found out there if you just take a bit of time to find the right one for you.
3. Driving a “low-risk” Vehicle
A third avenue for getting a good deal on insurance in your province is to be aware of the fact that different types of cars will fetch different insurance prices – some higher and some of course lower. Certain models may for example be more prone to theft and even involved in a higher rate of accidents and as such, these models are more likely to come with higher insurance premiums. As a result, if you have a vehicle that falls into this type of category – it will make more sense to shop around and look for deals on insurance policies.
However, another way to go to reduce your insurance fees is to opt for driving what may be considered a ‘lower-risk’ vehicle. You can go about finding out how a particular vehicle will fair on the scale of low to high risk either by contacting the organization known as the Vehicle Information Centre of Canada – or you can also gather similar information by going online and applying for online quotes for a range of cars that you are interested in. This way, you can see how the car you want to buy – or the one you already own will stack up in terms of how expensive the model will be within this insurance category.
Ultimately, gaining more insight into this specific area of interest may help also to sway you towards purchasing one car over another – also having the potential to save you some insurance money in the process.
All in all, when it comes to auto insurance, this is a financial commitment that you sign on for when you become a car owner in Canada. However, this doesn’t mean that you can’t find methods of saving some additional income each month, and each year.
By taking your time and seeking out the more affordable vehicle insurance premiums, getting a good deal on Ontario auto insurance can become a reality for you – and in the end, you won’t have to give up the specific coverage you want and need.
Yes, in this case – it is possible to have the best of both worlds – the ability to save as well as to keep you and your vehicle safe, thus taking care of two very important goal’s all-in-one.