Low Car Insurance Rates in Canada

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Sunday, May 11th, 2008 Subscribe To Our Feed

Highly expensive car models, a larger number of incidents on the road, and the rising cost of repairing those incidents have caused car insurance rates to shoot sky high. Throughout some states, car insurance rates have become so pricy that many drivers have a harder time paying their monthly insurance premiums than letting their 16 year-old take the wheel for the first time. Fortunately, there are many ways of beating those rising car insurance rates, and doing it legally. So, if you wish to lower your monthly car insurance premium, here are some ways to help you do it.

Maximize Your Monthly Deductible

One of the best ways to obtain low car insurance rates in Canada is to lower your monthly car insurance premium is to raise the amount of your deductibles. When filling out the car insurance questionnaire, see to it that you state the highest deductible amount that you can afford. According to most experts, you can safely claim as much as a 40% deductible from your car insurance. Doing this can effectively bring down your car insurance rate and save you money.

What is even more interesting about claiming the maximum deductible amount on your car insurance is that you will no longer need to make too many small claims on your car insurance. Small insurance claims usually result from those minute provisions in the insurance policy, which allow you to charge the insurance company for small repairs and other mundane car activities.

Of course these small claims may be beneficial to you, but your insurance company won’t mind leaving them out of your plan. The reason for this is most insurance companies do not like to entertain a large number small policy claims because it is both time consuming and labor intensive. In fact, a lot of car insurance companies cancel the policies of their clients who make too many small claims.

Ask For a Discount

Believe it or not insurance companies actually do give out discounts. One way to get a discount is to insure your car and your home under the same insurance company. Also, insuring multiple cars under the same policy is another way to keep those premium payments low. Not only that, but insuring multiple cars under the same policy actually makes it easier to keep track of your premiums, as well as pay them.

One more way to receive discounts is to have a good credit score. Good credit ratings can sometimes get you discounts on your policy. So, if you’re willing to insure multiple cars under the same policy, claim the maximum deductible amount, and use that credit score for extra cushioning, you will better your chances of finding low car insurance rates in Canada.