If one of your friends or family members got a better car insurance premium than you, it isn’t because they know someone in the industry, or they got lucky; all they did was follow these four simple steps to lower auto insurance premiums:

When it comes to car insurance in Canada, many of us pay too much. If you happen to know someone who has the same driving record as you do, yet they are paying less, it isn’t an accident, and no insurance company. What they more than likely did was used these four ways to get the lower rate:

1. RATE COMPARISON

Ummm, let me say state this differently, the SHOPPED! We shop prices for cars, computers, clothes, and these days EVEN gas, but when it comes to car insurance, we get the quote from the insurance rep and say “ok” and pay the rate without even shopping it!

There is a couple of reasons why we do this, and incidentally, they are myths … here is why we don’t shop

Myth #1 – there is no reason to shop because there is no difference between insurance companies when it comes to the coverage. They all charge the same price

Myth #2 – shopping rates are for new drivers who don’t have insurance yet or those people who have had accidents or tickets.

Those myths need to be BLOW OUT OF THE WATER! If you believe them, it costs you money!

If your driving record is clean, you are probably still paying way too much for car insurance because car insurance companies DON’T all charge the same; their rates do vary, and in some cases, they differ a lot.

Take the time to get a Canada car insurance quote 

2. Deductibles, consider raising them…

A deductible is the amount of the claim that YOU pay, and then your insurance company pays the rest if you are involved in an accident. We usually take the lower deductible because we want to pay less out of our pocket and have the insurance company kick in more. Good in theory, but, of course, it doesn’t work that way. We are still paying a higher premium. If you go with a higher deductible, it lowers your premium; I mean, we aren’t in accidents every day, right? So, why not elect to pay the higher deductible to save over the long run on our rate?

3. Discount, hey, do you offer any…

There are many insurance discounts you can take advantage of; here are ones to ask for:

Age – when you hit 25, the rate drops. There could be other breaks as well… ask!

Multi-vehicle discount – more than one car insured with the same company

Multi-line discount – insure the car, house, cottage, and boat and get a break if it is with the same company.

Anti-theft discount – get discounts based on the anti-theft devices you have

Low mileage discount – you’re a lower risk if you don’t drive that much.

Occupational discount – depending on the line of work you’re in, you may be one.

Auto club discount: CAA or some of the other auto clubs have discounts.

The key here … If you don’t ask, you don’t get it!

4. Watch your driving…

I know, I know, things happen when you’re on the road. However, keep in mind that your driving record is the key factor insurance company’s use in figuring out your insurance rates. The accidents you happen to get involved in that are your fault, and the traffic tickets all factor in and remain with you for a long time, so pay attention to what you’re doing!

We ALL have to pay for car insurance in Canada; that’s the law. However, we DON’T have to pay huge car insurance premiums; take the time, and use the four keys above; you can save on car insurance in Canada!