Insurance

How to Save Money on Car Insurance

The price of auto insurance in Toronto could differ by thousands of dollars. This depends on what kind of vehicle you have and who is insuring it. Here are several methods to save cash.

Shop Around

Costs vary from one company to another. So, it pays if you shop. Obtain 3 price estimates at least. You could directly contact companies or inquire the details on the internet. Also, the state insurance department might give price comparisons charged by popular insurers.

Get estimates from various types of insurance firms while shopping. Several sell via independent agents who provide coverage from some insurers; few sells via their own agents. Also, an increasing number of insurance companies directly sell to clients over the internet or via the phone.

To sum up, do not shop by the cost alone. Ask relatives and friends for their suggestions. Call your state insurance department to know whether they give details on customer complaints by company. Find an insurer who takes their time in answering all of your inquiries.

Compare Insurance Costs before Purchasing a Vehicle

Examine what it would cost to insure before purchasing a used or new car. Car insurance premiums are partly based on the total safety record and the likelihood of theft, repair cost, and the price of the vehicle. A lot of insurance companies provide discounts for features that decrease the risk of theft or injuries. You could research online for the car’s safety rankings.

Higher Deductibles means Lower Premiums

The money you pay before the insurance coverage starts is called a deductible. You could greatly lower your expenses by selecting higher deductibles. However, you need to make sure you have enough cash set aside to pay it if ever you will have a claim. Do this before selecting a higher deductible.