In everyday life, we all have a budget to stick to.
Here are a few tips to help lower your auto insurance premium:
- First, contact an insurance broker who will be able to shop around for you to find the best value for money from several insurance companies.
- Faites une mise à jour avec votre agent d’assurance ou votre courtier. Voici des informations qui peuvent influencer votre prime d’assurance automobile :
- Your annual mileage;
- Your mileage to get to work;
- The use of your vehicle. For example, if you used it for business purposes in the past and no longer do so, it is important to notify your insurance professional.
- A change of job;
- A change of address;
- Adding or removing drivers. For example, if you had a young driver and they now have their own car insurance, we recommend removing them from your insurance policy.
- Increase your deductibles, as this may lower your premium.
- Install an alarm system such as a tracking or engraving system if your insurance premium for collision coverage is high.
- Reduce your coverage if you feel that your insurance premium is too high compared to the value of your vehicle.
- Group your vehicles with the same insurer to take advantage of the multiple vehicle discount. If your spouse insures their vehicle with a different insurer.
- Bundle your home insurance with the same insurer as your auto insurance to benefit from a potential discount on your auto insurance premium.
- Avoid making minor complaints.
- Enjoy certain discounts and protection on your auto insurance with Intact Insurance if you are over 50 and a member of Fadoq.
- Did you know that some insurers offer discounts based on your financial stability (credit rating)? So, a good credit history will lower your auto insurance premium.
- Use telematics to lower your auto insurance premium. However, not all insurers offer this tool, as it is relatively new to the insurance market.
- Drive carefully; this will always be the best way to reduce your premium.
In conclusion, there are several ways to lower your auto insurance premium. Some insurance companies offer discounts that others do not, and it can be difficult to shop around for auto insurance and ensure that you are getting all the discounts you are entitled to. We recommend that you contact an insurance broker so that you can maximize your auto insurance coverage.