The government-mandated auto insurance required of all car owners in Canada can take a toll on your budget. Whatever auto insurance premium you paid during the past year may be jacked up by the time your renewal date comes along. You feel you have no choice but to go along and renew at current rates lest you be stuck carless for the next year. Don’t throw in the towel just yet. You are not out of options. There are ways to get cheap auto insurance in Canada.
If you live the provinces of British Columbia, Saskatchewan, Manitoba or Quebec, you have access to public auto insurance that is cheaper than private auto insurance but are more limited in scope. Cheap auto insurance in Quebec for example only covers personal injuries, leaving coverage for property damage to private insurers. Those provinces with only private insurers have more work to do in looking for cheap auto insurance.
You do not have to wait for your auto insurance renewal to do something about the cost of your auto insurance. If you have just renewed your coverage, now is the best time to start preparing for next year’s renewal. There are things you can do now to reduce the cost of your auto insurance renewal cost. Remember that the most important consideration of the insurance companies in quoting your premiums is your risk rating. If you show these insurers that your risk rating is low, chances are you can bargain for cheap auto insurance on your renewal.
You can start by driving less. There are gadgets that you can put under your glove compartment or under your dash board to track the mileage on your car. It can also track where you go and at what speed you drive. This shows the insurers that you are at very little risk of getting into accidents for speeding, which is one of the most common causes of accidents. Great discounts can be had from companies that charge premiums on usage-based insurance.
Educate yourself on defensive driving techniques. Most auto insurance companies would offer discounts to those who equip themselves with the professional training needed for safe and defensive driving. Your ability to navigate the streets of Canada without or with very little risk of causing or being part of an accident will definitely merit some form of discount from your auto insurance company.
An accident-free driving history would also serve well to secure for yourself a cheap auto insurance coverage. You can even ask your insurance company to waive your first at-fault accident benefit on your accident protection endorsement to save hundreds of dollars on your auto insurance coverage’s renewal premiums. This endorsement just means that in the event that you get into an accident for the first time (which is highly unlikely given your driving history), you will take the responsibility for shouldering the expenses incurred instead of the insurance company.
Keeping your risk ratings low will help you secure a cheaper auto insurance quote from your current insurer and from other insurers as well at the time of your renewal. Do not just wait for your auto insurer to present their renewal rates to you. Ask around and search for comparative quotes from various insurers. You might just find one that has a better price as well as better benefits in their packages.
October 30th, 2008 at 1:07 pm
This is good advice. Knowing how to make your auto insurance premiums decrease is a good thing to know! It’s also important to shop around and look for the right company.