Do you live in Canada? Did you know practical ways to save money on car and home insurance exist in this North American country? According to new industry data from the Insurance Bureau of Canada, young drivers with varying driving habits and driving experiences spend an average of $1300 to $1800 in auto insurance premiums every twelve months.
But here is the thing! The amount you spend on car insurance premiums can be significantly lower depending on which province or territory you live in. Driver training, driving history, and your likelihood of causing a car accident can also be factors. The following tips for finding the best car insurance rates apply to most Canadian cities, including Ontario, Quebec, Saskatchewan, and Alberta. So, keep reading.
Getting Cheap Car Insurance in Canada
As mentioned above, young, experienced, and new drivers living in different Canadian territories and provinces face different auto insurance rates. This massive difference is evident in places like Quebec (with the cheapest average car insurance rates) and British Columbia (with the highest-priced insurance rates). Auto insurance costs in Quebec are approximately 161% lower than in the latter.
It is essential to take action now to avoid missing out on potential savings through lower premiums. Don’t let your car insurance policy renew automatically without comparing options, as most people in Canada do. These tips will help you.
Start by Comparing Quotes
One of the most critical things to do when accessing cheap car insurance in Canada is to compare car insurance quotes from multiple insurance companies. Suppose you only get a single auto insurance quote from one insurance provider. Are you sure it is the lowest price out there?
Allow an Insurance Expert Advice You
We always advise young drivers with good driving records in Ontario, British Columbia, Manitoba, and other parts of Canada to work with an insurance advisor. These experts are experienced in helping insurance policyholders and beneficiaries find the best prices and insurance discounts from the car insurance companies they work with.
Combine Your Policies
If you have a clean driving record and rent or own a home, you can leverage a home and auto insurance bundle. You can combine your home insurance policy and car insurance policy to save between 20% and 50% on auto.
Raise Your Deductible
Did you know that raising your vehicle insurance deductible will automatically decrease your insurance premium? That’s primarily because insurance costs and deductibles are directly linked. Therefore, a higher deductible means your premiums can decrease by as much as 30% on your collision coverage and comprehensive coverage.
Look for Insurance Discounts
With the numerous types of coverage discounts available in Canada today, it is best to inquire about the ones you may qualify to receive. Remember that these auto insurance discounts often vary among providers.
Provinces With the Cheapest Car Insurance in Canada
The following is a rate analysis to help you understand how much insurance coverage for your automobile will cost across Canada. But note that these figures are estimates, and the final insurance costs will vary.
• Quebec’s average annual premiums are around $700
• Manitoba’s average annual premiums are around $1080
• Alberta’s average annual premiums are around $1179
• Saskatchewan’s average annual premiums are approximately $1235
• Ontario’s average annual premiums are around $1500
• British Columbia’s average annual premiums are around $1830
Don’t hesitate to contact DriveNation today, and our auto experts will guide you through every step of your car purchase and save you money by finding the best auto insurance premiums.
