In these difficult economic times, most of us are doing our very best to save, conserve and generally just be more frugal. We cut coupons; we turn out the lights; we carpool; we even make sure the heat is set a few degrees cooler at night. But one thing most folks forget to do is to shop around for auto insurance. And that’s a real shame because the internet has made it easier than ever to find competitive quotes on car insurance.
Today we are going to be taking a look at Canadian auto insurance and how you can locate the best deal possible.
Why do people fail to compare prices?
The primary reason people fail to shop for auto insurance is because they think the rate you are quoted by an insurance agent is the market rate and does not differ from company to company. This is pure myth. Just as medical insurance and life insurance rates vary, so too do Canadian auto insurance rates.
Many people also believe that shopping for insurance is only for drivers who’ve just received their licenses,’ or for people with spotty driving records. Again, this is a myth. In fact, if you are a good driver it is far more likely that you will receive a better deal if you compare prices. Many Canadian auto insurance companies actually offer good driver discounts to people with immaculate driving records.
So if you think you’re paying too much for your current policy, you owe it to yourself and your family to request a few rate quotes from auto insurance companies. Remember, simply asking for a quote in no way obligates you to purchase a policy from that company.
Insurance Advice
Most drivers are completely unaware that there are a number of discounts they are eligible for. But if you don’t ask it’s unlikely that the insurance company will simply hand them over.
For example, when you reach the age of 25, your Canadian auto insurance rates should drop. It is also true that your company can and should offer you a multi-vehicle discount. You may also choose to bundle your insurance needs by insuring your house, vehicles and possibly even boats and motorcycles through the same company. If you do this, your insurer should offer you deep discounts.
Other common discounts include: anti-theft covers-when you have a car alarm; low mileage discount-when you don’t drive much, and auto club discounts-when you belong to auto clubs like AAA.
If your insurance company does not provide you with these standard discounts, you should either request immediate discount or start to shop around.
As we mentioned earlier, shopping for Canadian auto insurance is easier than ever with the help of the internet. All you have to do is fill out a few forms and request insurance quotes. Make sure you have all the necessary information on hand. You will need: the make/model/year of each vehicle you want insured, the driver’s license numbers of each person you want covered, and the VIN (vehicle indentification number) numbers of each car. Then you can just sit back and relax and wait for your quotes, which will often be emailed to you within a matter of minutes. It is recommended that you compare the Canadian auto insurance rates of at least 10 companies so you can get a good picture of what you can expect to pay.