There are several articles titled “7 Ways to Save on Car Insurance” or “5 Tips to Lower Your Car Insurance Costs” etc, but wouldn’t it be great to have all those savings tips and discounts in one place? ? Below you will find such a list for auto insurance. This list is a comprehensive overview of all the opportunities to save on car insurance in Canada and was compiled based on the results of numerous discussions with insurance brokers and through analysis of different insurance offers.

1. Compare prices: Search, compare and change insurance companies. There are many insurance providers and their price offers for the same policies can be very different, so use several online tools and talk to several brokers as each one will cover a limited number of insurance companies.

two. Package: Do you need home and auto insurance? Most companies will give you a discount if you combine them.

3. Professional Membership: Are you a member of a professional organization (for example, Certified Management Accountants of Canada or the Air Canada Pilots Association)? Then some insurance companies offer you a discount.

4. Students: Being a student can only result in a student discount.

5. Former students: Graduates of certain Canadian universities (eg University of Toronto, McGill University) may be eligible for a discount from certain insurance providers.

6. Employees / Unionists: Some companies offer discounts to union members.

7. Seniors: Many companies offer special prices for seniors.

8. Direct Insurers: Have you always dealt with insurance brokers/agents? Getting a policy from a direct insurer (i.e. insurers that work through a call center or online) can often be cheaper (but not always) as they don’t pay an agent/broker commission for each policy sold .

9. Annual vs. monthly payments: Compared to monthly payments, annual payments save insurers administrative costs (such as billing) and therefore reward you with lower premiums.

10. Loyalty: Staying with an insurer longer can sometimes result in a long-term policyholder discount.

11. Annual review: Review your policies and coverage every year, since new discounts could be applied to your new life situation if it has changed.

12. Welcome discount: Some insurers offer a so-called welcome discount.

13. Compare your costs: Knowing how much other consumers similar to you are paying for their insurance can help you identify the cheapest insurance providers.

14. Auto Insurance Deductibles: Increase your auto insurance deductibles if you think you are capable of incurring higher damage payments in the event of an accident. This is especially suitable for more experienced car drivers.

15. Being a second driver: Do you drive a car only from time to time? Become a second driver instead of being a primary driver

16. Minimum coverage: Do you drive an old car without great value? Get the minimum coverage required by law (mainly liability) without collision damage (you’re still protected if you damage someone’s car, but damage to your car won’t be covered)

17. Minimum coverage: Do you drive a cheap old car? So just get a minimum coverage plan required by law (mainly liability) without collision damage coverage (does not cover damage costs for your vehicle)

18. Take advantage of your credit card: Check if your credit card insurance includes rental car protection. Paying with a card that has rental car protection insurance can save you about $20 a day in collision damage waiver fees.

19. Take advantage of rental car coverage: If you frequently rent cars and have a car insurance policy, you should check to see if your own car insurance policy actually covers the rental car. If so, you can save on all collision damage waiver costs for rental vehicles.

20. Rental car driver: If your current auto insurance policy doesn’t cover your rental car, you can often add it as a rider (policy extension) for $20-30 a year. Compared to the $20 a day you’d pay to rent a car, that’s not a bad deal!

21. Rent, rent, rent: Car insurance costs differ from province to province (for example, moving from Ontario to Quebec will almost certainly cut your insurance costs in half). If you’re moving within a province, you should check your car insurance costs for changes, and ideally, move to a place where costs are lower (e.g., Burlington, Ontario has one of the lowest rates). highest auto insurance rates in Ontario)

22. CAA Member: CAA Members: Are you a member of the CAA? Some insurance providers will reward you with lower insurance premiums, including of course the CAA.

23. Dash Cam: Get a dash cam for your vehicle. Although installing a dash cam doesn’t result in direct savings (insurance companies don’t offer any insurance discounts related to dash cams), it can prove that you’re not at fault when it comes to an accident. The result is that you avoid unfair premium increases.

24. Driving Course: Some insurance providers acknowledge that successfully completing a driving course can help lower your premiums.

25. Improve your driving record: Do you have a bad driving record? Every three years, previously incurred tickets are removed from your insurance history and your insurance premiums may decrease.

26. At-fault accidents: Have you been in a couple of accidents in the past where you were at fault? With a little patience (six years without accidents), your risk profile will improve and you can once again enjoy reasonable insurance premiums.

27. Age: Older drivers enjoy lower auto insurance premiums. So over several years your premiums can go down.

28. Make and model of car: Choose your car wisely, as some car models are more susceptible to theft or even have a history of riskier driving (for example, Toyota Camry, Acura MDX, Toyota RAV4, and Honda Civic are often quite expensive to insure)

29 Good student: Yes, having good grades can have many positive impacts, including on your car insurance rates! For example, an insurance company rewards students under the age of 25 and with good grades (B average or higher) with a discount of up to 25%.

30. Multi Car Pack: Bundle multiple cars into one policy and your rate can go down

31. Anti-theft system: Installing a certified anti-theft system in your car reduces the risk of theft and therefore can lead to insurance discounts.

32. Winter tires: Having winter tires is important for winter driving safety, but it can also help lower your insurance premiums.

33. Repair costs: Choose a car that costs less to repair if damaged. Repair costs for certain cars (eg Mini Cooper or BMW) are higher than others (eg Ford Focus) and insurance providers know it.

34. Claims History: Maintaining a clean claims history can sometimes be more financially feasible than filing claims for minor damage repairs, which could result in increased premiums. Contacting an insurance provider/broker might help you figure out what makes sense.

35. Being married: In most provinces, your marital status affects your insurance premiums (except Nova Scotia)

36. Short distance to work: Finding a home close to where you work reduces the distance you need to drive to work each day and therefore results in lower insurance premiums.

38. Drop glass coverage: For cars with cheap windshields, it may be cheaper to leave the glass coverage since in combination with the deductibles to pay in the event of an accident, you would pay more. It’s up to you to calculate.

39. Discounts for retirees: Some insurance companies will offer different retirement discounts for drivers.

40. Disabilities: Some companies offer discounts for people with disabilities.

41. Hybrid Vehicles: Many companies reward driving a hybrid vehicle with lower insurance premiums.

42. Private Garage: Parking your car in a safe place (for example, private or secure garage) typically results in lower insurance premiums with car insurance providers.

40+ Ways to Lower Your Car Insurance Costs

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