Smart Ways to Reduce Your Auto Insurance Rates


Ontario’s stern auto insurance policies require that all of its drivers have sufficient insurance coverage. This means that if you’re on a tight budget, you’re going to need a lot of time to find an inexpensive coverage that suffices to this requisite. Yes, the process can become frustrating but if you know where and how to find it, it’s not really that difficult.

There are a few factors insurers look into when computing for your premium rates: your residence and its surrounding area, driving experience, age and the car.

Here’s a Tip: Saving money with your insurance premiums is possible as long as you think that’s it’s a long-term investment rather than a short-lived factor.

If you plan to drive on Ontario’s road for a long time, it is best to keep in mind the following pointers, which will help you reduce your insurance rates overtime.

Maintain a Clean Driving Record – This is not only applicable in Ontario but to every state in the U.S. This seems to be the norm these days and for good reasons.  Having a reputation of being a good driver is a sure ticket to discounts and special rates offered by the insurance provider every so often. A good driver with a squeaky-clean driving record will surely enjoy years and years of heavily discounted rates.

Install Safety Devices – Insurers will appreciate if they find out that you’re doing extra steps to secure your car from theft or vandalism.  As simple as installing a car alarm system can become a big step towards getting the sought after discounts. Without a doubt, installing safety devices will help you get a cheaper rate compared to those who don’t have. Popular devices that will likely return favorable results are the anti-theft devices, snow tires, anti-lock braking system and windows sketching. Installing these extra features might be a pinch in the pocket, but the benefits can be a lifesaver.

Insure Multiple Cars – Nearly all insurance providers grant discount rates if you insure two or more cars under the same company. This is how they show their gratitude for entrusting them to handle your insurance needs. Individuals owning more than one vehicle can take advantage from this tip to find the best coverage for a cheap price.

Annual Insurance – Choose the annual payment rather than the six-month payment option. If you go yearly, it means you’re going to stick with the same company for 12 months. Before signing the dotted line, make sure that you’re dealing with a reliable company that won’t give you headaches in the succeeding months. Do your homework through careful research and reading reviews and find out the company’s performance ratings.

Mileage – Another determinant that affects insurance computation is the mileage. This factor can make significant changes in your insurance quotes based upon your travel time and distance. Know your daily average mileage and inquire how it’s going to affect your premium rates.

These are just some of the most basic factors used by insurance providers to arrive at a conclusion. As a driver and car owner, you can directly influence these factors and can dictate whether they turn expensive or cheap.