How much coverage do you need?
Based on the condition of your car, depending on the province and your driving habits, you might not require a fully-loaded policy and maybe go with the most cheapest car insurance in your region. Also re-examining your policy every year to determine how much your car would be worth if anything happens (collision coverage). Cutting the excess can reduce your annual price.
But, it would be best if you found the perfect balance between your personal preferences. If you’re comfortable with having insurance “just in case,” then the peace of mind might not be worth a couple of dollars each month. Like with a greater limit, this will depend on your comfort level.
Drive safely
Most Canadians are unaware that adding features to improve your safety on the road, like snow tires or an upgraded alarm system, could lower your insurance premium! The rules vary province-to-province for sure.
If you frequently change your winter tires, Keep your receipt and the information about your tires when you call any insurance company. Inform them of the winter tire changing routine. They might offer a less expensive discount for them.
A clean driving record
Things such as ticketing for traffic violations, demerit points, or multiple accidents on your record for driving can impact how an insurance company determines your coverage. Several driving offenses could increase your premiums, resulting in you paying more than someone who has an impeccable driving record. Your driving habits impact the cost of your insurance for your vehicle will cost, which is why it is important to remember this when you’re looking for estimates, but it implies that you need to adhere to the law to keep from a hike in cost.
Shop pre-owned cars
If your car is of lower market value, you might prefer to save on the cost of collision and comprehensive insurance. This is because insurance will only cover the value of your car that is written off after an incident (totaled) or taken.
What qualifies as “comprehensive” and “collision” can vary province-to-province, so check what your policy covers specifically before removing these protections.
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