There are several expenses that come with owning a car in Ontario.
You need to cover the cost of fuel, maintenance and vehicle modifications throughout your car's lifespan.
However, we can't talk about car expenses without mentioning car insurance. Ontario has some of the most expensive auto insurance rates in the country, which leaves drivers in a tricky situation. Many drivers feel that they either need to sacrifice coverage to save money or spend a significant amount in order to get the coverage they want.
START A QUOTEThankfully, this isn't the case. There are several unique and effective ways that Ontarians can save on car insurance — continue reading to learn how to lower car insurance Ontario.
Tips for getting low car insurance Ontario
Here are some tried-and-true tips that policyholders can use to lower their car insurance rates in Ontario:
Tip #1 — Avoiding making too many claims
Although it may seem obvious, policyholders should avoid making too many car insurance claims in a short period of time.
The number of claims that you've made in the past can have a significant influence on your future car insurance rates. Because of this, policyholders should only submit a claim if it's completely necessary.
For instance, you should always submit a claim if a severe car accident takes place. Most serious car accidents result in thousands of dollars worth of damage and medical expenses, so it's best to have your insurance by your side to help cover the costs.
That being said, if you're involved in a minor fender bender that results in little to no damage, it may not make financial sense to file a claim.
Tip #2 — Assess the size of your deductible
If you want to learn how to get cheaper car insurance in Ontario, one of the first things you need to do is assess the size of your insurance deductible.
As a rule of thumb, policyholders with low deductibles pay less when they submit a claim to their insurance provider, but they generally have higher monthly/annual rates.
On the other hand, policyholders with high deductibles tend to pay more when they submit a claim, but they often have lower monthly/annual insurance rates.
Simply put, if you feel like your current car insurance rates are too high, you can speak with your Surex insurance advisor about increasing your deductible. Most insurance experts suggest having a $1,000 deductible (or higher).
This ties in nicely with our previous tip — if you make fewer claims, having a higher deductible puts less financial pressure on you as a policyholder.
Tip #3 — Take advantage of car insurance discounts
A great way to lower car insurance rates in Ontario is by utilizing a variety of discounts and incentives.
Most car insurance companies in Ontario offer a wide selection of discounts in hopes of attracting new policyholders. This results in a win-win situation for insurance companies and policyholders; insurance companies gain your business, and you get to save on coverage!
An example of a typical car insurance discount is the winter tires discount. Drivers that use winter tires during the set timeframe can save 2% to 5% on their car insurance.
The winter tires discount is just the tip of the car insurance iceberg; some other common discounts include:
- Experienced driver discount
- Mature citizen discount
- Hybrid vehicle discount
- Anti-theft discount
- Multi-vehicle discount
- Claims-free discount
- New business discount
- Ticket-free discount
Speak with your Surex insurance advisor if you'd like to learn more about the discounts that your current (or prospective) provider offers.
Tip #4 — Drive safely
Driving safely is among the best things that you can do if you want lower car insurance rates in Ontario.
Obeying the rules of the road and forming responsible driving habits can drastically decrease the chances of you causing an accident or collision. In turn, you're less likely to make a claim, which, as we mentioned earlier, can negatively impact your car insurance rates.
Drivers of all experience levels should work on the following safe driving habits:
- Watch your blind spots
- Always use your signals when turning or merging lanes
- Always drive within the speed limit
- Never drive while angry or emotional
- Know how to react to poor weather conditions
- Avoid the use of handheld devices
Tip #5 — Bundle your policies with one provider
Do you have a car insurance policy with one provider and a home, renter's, condo, etc., policy with a different carrier? Now is the perfect time to chat with your Surex insurance advisor about bundling your policies with a single provider.
Bundling multiple policies with a single provider is an effective and easy way to drastically lower your insurance rates. The discounts are quite significant (sometimes as much as 25%!).
The best part about bundling is that it helps you save money passively. Unlike some of the tips mentioned above, you don't have to actively work on bundling your policies. Once you've set things up with your broker, you start to save immediately!
Looking for low insurance rates Ontario? Surex is here to help
At Surex, we know that car insurance can be expensive. However, we don't want policyholders to sacrifice the quality of their coverage in order to find a product that works with their budget.
That's why our team of advisors works hard to provide policyholders with the most competitive insurance quotes in the industry.
Our insurance advisors (our preferred title for insurance brokers) work shoulder-to-shoulder with some of Ontario's top car insurance providers. Working with a wide variety of carriers gives us the ability to supply policyholders with several personalized quotes.
Give one of our experienced insurance advisors a call or visit our website today to get started and to receive up to ten personalized car insurance quotes in ten minutes or less!
Start saving on car insurance in Ontario
Although it may feel like a difficult task, saving on car insurance is easier than most people think.
Some simple tips for lowering car insurance rates include not making too many claims, increasing your deductible, using discounts, driving safely and bundling your policies.
If you want to learn more tips about how to save on car insurance or have specific questions about your current policy, you can reach out to your Surex insurance advisor at your earliest convenience.
