People spend the time to shop prices and rates on a great many things, however the sad thing is when it comes to Canada car insurance some don’t shop enough and if you are one of them you could be paying too much for your auto insurance coverage. Keep these tips on keeping auto insurance rates down for your next car purchase or even when it is time to renew your auto insurance, it could really pay off!
1. SHOP RATES
Many people believe that all insurance companies charge the same rates when it is based on the same coverage from company to company. In Nov 2006 a study done determined that premiums between insurance companies based on the same coverage differed by over $900. Hmmm kind of blows that belief that all insurance companies are created the same.
Use the internet to shop your insurance rates, you cn get an Canada car insurance online quote SHOP THE RATE AND SAVE!
2. Put all your vehicles on the same insurance
This is called a “Multi-vehicle discount” and can save 10% off both cars.
3. Include all your insurable items on one policy
When you include your home with your car insurance it’s referred to as a “Multi-line discount.” Insurance companies use this to get all your insurance business and you benefit by saving up to five percent more on your insurance rates.
4. Consider increasing your deductible
Does your budget allow you to cover a $1000 repair job? If you can then raise your deductible to $1000 from $500 and pay less for your insurance.
5. Consider deleting the collision coverage for an older car
You have to think about this before you do and see if you are able to afford it. However if you drive an older car that is worth $1000 and if your deductible is $1000 then your collision coverage isn’t doing much to help. DON’T drop it, but if it would be better for you, drop it but talk to an insurance agent first and see.
6. Buy a car that is considered a “low risk” insurance vehicle
If a car is more likely to be in an accident or stolen then you will be paying a higher insurance premium. Car insurance rates are based on the previous claims history for that particular car. Before you buy a new car, get some quotes to compare and see how the rates are determined.
7. If you can, don’t use the car to drive to work
Insurance rates are higher for those who drive to work. The concept is that the more you are in your car driving the higher the risk there is of getting into an accident. If you can, take public transit or car pool.
8. Take a defensive driver’s course or training
New drivers are provided with discounts if they have taken a defensive driving course within three years
9. Have anti-theft devices installed
You can check with insurance companies to see what anti-theft devices they recognize in order to gain a discount as well.
These nine tips on keeping auto insurance rates down will help you SAVE on your insurance premiums in the long run. The important thing to do though is SHOP THE RATE, you could be paying too much in the first place!
Article Source: http://EzineArticles.com/831512