Tips On How To Save Money On Auto Insurance
Even though your insurance may seem like a useless expense 99% of the time, having the right policy can make all the difference if you are in a fender-bender. Here are a few tips on saving some money when it's time to renew your insurance:
1. Shop Around
There are many many insurance companies out there and all are vying for your business. It may seem time consuming to sit on the phone and divulge all the information they require in order to get a quote, but it can be worth it. There can be big differences between companies and their quotes for the same car – up to hundreds of dollars per year. Don’t pay more than you have to.
2. Insure Everything With The Same Company
Insurers give discounts when you have more than one vehicle or if you decide to insure your home or business with them as well.
3. Get A High Deductible
You can reduce your monthly payments with a high deductible. Furthermore, are you really going to make a claim for something that costs less than $500?
4. Get Anti-Theft Protection
Most Insurers require it for expensive vehicles anyways but it will serve to reduce your payments in addition to giving you piece of mind.
5. Don’t Be A Ti-Coune
Getting tickets is the best way to have your insurance company jack up your premiums. Drive responsibly and save money (and your life)! If you are young, many companies such as La Capitale have special programs for young drivers. Check them out.
6. Negotiate When Making A Claim
Many people don’t know this but an insurance company will attempt to negotiate the least possible amount to pay you in the event of a claim. For example, if you have your vehicle stolen and you don’t like their offer you can ask for a higher one with justification. Go on Kijiji or Auto Hebdo and search for similar vehicles to find the average price (though you may be able to discount a few of the lower ones if they have been accidented or have salvage titles). The insurer basically does the same thing, but don’t count on them removing the lower-priced ones.
If you drive a hard bargain, they will be forced to up their offer. More often than not, the insurer lucks out and the client takes the first lowball offer they make. Don’t make the same mistake!
Source: Montreal Racing