Paying your car insurance can be expensive, so it only makes sense that you’d like to save as much money as possible on it. We’ve put together a few simple ways to save–without sacrificing on coverage.
- Look into Education – Whether you’re a brand new driver or have many years of driving under your belt, you may be able to save on your policy by educating yourself, such as taking a defensive driving course.
- Check out Discounts – Does your brokerage offer discounts based on age, lack of prior accidents or for equipping your car with certain safety features? You can take advantage of all these benefits!
- Choose a Smart Vehicle – Certain vehicles will be more costly to insure than others. Before you buy a vehicle, check with your insurance company and see how it will stack up. Additionally, extras (such as snow tires in Canadian winters) may help you shave a few dollars off your insurance costs too.
- Drive Less – The more miles you drive each year, the higher your premium. If you can take a bike to work or carpool, you may be able to reduce your annual cost.
- Remove High-Risk Drivers – If you have family members who are considered high risk, consider leaving them off your policy (if they won’t be driving.) High-risk drivers lead to a more expensive policy.
- Bundle It – See if your brokerage offers additional insurance products such as homeowners insurance. You may save by purchasing multiple policies from the same company. Plus, you’ll have the benefit of only paying one company each month and having one “go-to” broker to work with if you ever have a problem or question.
- Increase Your Deductible – If you have a higher deductible, your monthly costs will be lower. While raising this could cost you more in case of an accident, it will save on a monthly basis. Look at all the benefits and drawbacks and choose a deductible that makes sense for your lifestyle and you may be able to save a bit too.
For more ways to save on insurance or to talk to an expert broker about what insurance you need, simply reach out to us. We look forward to helping you stay safe and protected every time you hit the road!
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