Car Insurance

Lower Your Ontario Car Insurance With These Seven Tips

If you are looking for ways to lower your car insurance in Ontario, you may be hard pressed to figure it out without some help. Car insurance rates can be high and if you get a ticket or even get into an accident, whether your fault or not, your insurance premiums can jump up to as much as double. It can be difficult for you to find cheap insurance in Ontario, but there are ways for you to lower your premiums. With the below tips in hand, you can begin to rack up your savings.

  1. Bring Your Costs Down By Changing Your Deductibles

If you notice you are paying a lot in insurance, stop for a moment and take a look at your coverage. Many people do not think about the deductibles when they choose them and if you were misinformed about them when you chose the amount, you may have gone with the lowest number. Typically, deductibles range in price from $250 to $2,500. If you chose the $250 threshold, you will be paying more than if you chose the $1,000 option. If you feel comfortable, raise the amount of your deductible to even $500 or $750 and you will notice a big difference.

  1. Skip the Sports Car

Of course, everyone wants a sports car! Although the sports cars look great and drive well, your insurance company does not like them and you will pay more for your premiums. It is not uncommon for sports cars to pay double or even triple that of a four-door family vehicle. Believe it or not, even a non sports car with two doors can raise your rates. Crazy, right?

  1. Is It Worth the Expense?

When you begin shopping around for car insurance, consider whether or not you truly need to have collision and comprehensive coverage on your vehicle. If you have a vehicle that is either on its last legs or it is just an older model, you may not need to have these coverage options on your policy. Typically, it is recommended to carry collision and comprehensive when you have a newer or financed vehicle. Not having these two options on your policy can reduce your premiums by hundreds of dollars.

Think about it for a minute. If you drive a vehicle that is only worth a couple hundred bucks or a couple thousand bucks, why pay $1,000 in deductible fees when the vehicle isn’t even worth it?

  1. Take a Training Course

Although you may not need to have a training course, it can be beneficial to take one now and again. Whether you are a new driver or you have been in the driving game for some time, you will find that freshening up your driving skills can earn you a discount on your insurance policy. If you have never noticed, when you fill out a quote online, many companies will ask you if you have taken a course recently.

  1. Consider Your Insurance Before You Move

Did you know that moving into a new home could cost you? Your insurance rates may go up depending on the area you live in. While this seems a bit odd, it happens. If you are looking for a new home or place to rent, ask your insurance company how much you can expect your auto insurance policy to rise or decrease based on the area. In Toronto it tends to be Much Higher then in the northern Cities such as thunder bay and farther north.

  1. Keep Your Mileage Low

Ever wonder why the insurance company wants to know how many estimated miles you drive per year? Yep! That’s right. They want to charge you more when they can. Try not to overestimate the amount that you think you will drive and of course, carpool, ride a bike, or walk when you can. Keeping your driving miles lowered will help you save money on your monthly and yearly premiums.

Think about it this way. The more you drive, the more you are likely to get into an accident and this leads your insurance company to see you as a higher risk, thus increasing your premium.

  1. Review Your Policy Often

One mistake people make is that they become too comfortable with their insurance rates and they fail to recognize that there are cheaper rates out there for them. You should look over your policy and gather new quotes every year or two to ensure that you are receiving the best rates throughout all of Ontario.