Keeping your Car Insurance Rates Down

Recently, I posted an article on our Facebook page https://www.facebook.com/TorontoInsurance. The article focused on the cost of auto insurance in Ontario, and how Ontario is the most expensive place to insure a vehicle.

Here are some categories that can negatively affect your auto insurance rate, and some helpful hints to prevent or mitigate the potential increases in your premiums.

Traffic Violations

It is always important to keep your traffic violations to a minimum.  A clean driving record is a great way to stop surcharges to your insurance rate.  Furthermore, most insurance companies do not allow for more than two convicted traffic violations in total.  Having more than two convictions could classify you as “high risk” driver.  In this case, be prepared to pay a higher premium with minimal market choices.

Lack of Experience

If you are a new driver, it would be a good idea to take a full driving course accredited by the Ministry of Transportation.  In addition, being added to an existing insurance policy even as a secondary driver, could help reduce your premium when purchasing your own policy.  Do not delay your licensing process; try to get through the graduated license program as soon as possible.

Accidents

Of course, car accidents are just that, an accident!  But taking some extra steps to ensure a safe ride could help you avoid an accident and high insurance premiums.  Giving yourself extra time to reach your destination, not being tired, do not multi-task (just drive), and planning your trip ahead of time are just some ways you could avoid any future accidents.

Discounts

Take advantage of any discounts you can!  Ask your broker what discounts are available, and make sure they are being applied!  Look out for telematics, a great way to save without a downside!

Keeping Up with your Payments

Lastly, as a consumer of an auto insurance policy, it is important that you keep up with the payments required.  Being cancelled for non-payment is an issue for most insurance companies.  Be sure before buying a car that you can fully afford the insurance premium.

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