Car insurance can turn out to be a costly affair, even for people with excellent driving records. Quotes for car insurance vary according to your city, insurance provider, car type, and driving records.

However, shopping around and researching your options for car insurance in Alberta can be challenging. That’s why you need a reliable insurance brokerage such as Surex. You can compare quotes from different insurers and choose a policy that best fits you.

Besides, you can apply some hacks to land cheaper auto insurance details. 

If you’re looking for discounts on car insurance, be sure to continue reading. 

Best ways to get a cheap car finance deal

Do you want to learn how to get discounts on car insurance in Canada? Feel free to use the following tips and tricks:

1. Find the right car type to ensure low insurance costs 

Insurance companies consider several factors when assessing coverage for a car owner. The type of car you own is one such significant factor.

For example, the car models more prone to theft in your area will likely cost you more to insure. Similarly, insurance for fancy sports and rarer cars comes at a high price. On the other hand, you can easily get cheap insurance deals for vehicles like a minivan. Thus, opting for a car that is easy to insure will provide you with various insurance quotes to choose from.

2. Leverage your good driving skills to get discounts 

Insurance companies offer good deals to drivers with excellent driving skills. In addition, the applicant should have a good driving record. It is a simple yet highly effective hack to get car insurance at a low price.

Today, insurance companies offer discounted auto insurance deals to drivers who use a telematic device (the tool is used to monitor the driving skills of the individual). You can get competitive discounts on car insurance by highlighting your skills and knowledge of safe driving habits, such as driving defensively, accelerating slowly, driving within speed limits, etc. 

3. Increase the limit of your deductible

A deductible is an amount the individual must pay out of their pocket before they get the claim money. Generally, insurance policies come with a standard deductible value of $500. For example – the repairs or replacement cost post-accident is $2,000, then you’ll be required to bear $500, and the insurance company covers the rest.

Increasing the cost of deductibles up to $1,000 or more reduces the premium since the insurance agency would be responsible for less coverage in case of a claim. But before you do this, be sure you can afford to pay the deductible if you get into an accident and need repairs.

4. Add anti-theft devices to your vehicle’s installations

You can get access to hefty discounts for car insurance by installing advanced anti-theft devices on your vehicle. You may get up to 25% discounts on annual insurance premiums if your car has an anti-theft system.

However, before installing the device, consult your insurance company to learn about the devices that will help lower the premiums. LoJacks and car alarms are the two devices popularly considered by insurance agencies for discounts. If your aim for installing the device is only to lower the cost of premium motivation, consider installing cheap devices.  

5. Maintain a good credit rating 

The driver’s record is one of the major factors impacting auto insurance costs. It’s tough for drivers who don’t have a good driving history and have met a lot of accidents to get good discounted deals. 

The insurance company raises its premium for such individuals due to high-risk factors. So if you want significant car insurance discounts, maintain an excellent credit rating to have the best insurance deals at your disposal. 

6. Coverage review from time to time 

No one can predict accidents. However, you can always opt for adequate coverage. For example, suppose you own an old model car. 

In that case, it makes no sense to sign up for comprehensive or collision coverage depending on your driving history, vehicle cost, and other factors. Let’s say – the insured vehicle is involved in an accident and its collision coverage is $500 annually, and the car’s value is $1,000. In such cases, it’s not wise to opt for coverage. 

7. Sign up for annual premium payments

Generally, customers opt for monthly payments of their insurance premiums. But the best-discounted deals are reserved for those who choose to pay an annual premium. You could save thousands of dollars every year with yearly insurance premium payments. 

8. Do additional research to find out about the discounts 

Insurance companies provide a wide range of discounts on different types of deals. Hence, you should be careful and research how the insurer offers the discount. Focus on the following aspects of the deals – 

  • Offers given customers to pay the six-month or annual premium in a go
  • Read the insurance agreements carefully before signing the papers. Don’t forget to collect all related documents and e-bills 
  • The insurance agency offers memberships for exclusive discount deals. 

Don’t be lured by the “possible” discounts promised by the insurance companies. Compare regular prices and car insurance discounts from multiple insurance companies to choose an excellent deal that fits your needs. 

9. Bundle your insurance

Another way of securing guaranteed discounts is by buying various insurance policies from the same insurance provider. For example, you can purchase a car insurance policy from your home insurance provider. You will most likely earn a discount of 5-15% on your car insurance policy. Similarly, if you own multiple cars, you can purchase insurance from the same provider.

Discounts on car insurance — Endnote 

If you are looking for cost-effective car insurance, make sure to follow the steps listed above. In addition, estimate auto insurance rates based on locations. Some cities and provinces in Canada provide comparatively cheaper car insurance. Also, if you are under 25, you’ll end up paying even more.

When it comes to renewing your auto insurance policy, there are high chances that you may not get the same coverage at the price you purchased initially. Build a habit of researching your options every time your policy is to be renewed or looking forward to purchasing new coverage. 

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