Business, Cars/Motorcycles

How to get the best car insurance

Car insurance

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It pays to compare car insurance and car insurance companies to get the best car insurance. Each car insurance company uses a different set of insurance criteria, which means that prices can vary widely with the same sum insured. If you’ve been with the same insurance company for years, you could spend hundreds of dollars more than you should. Do yourself a favor and start shopping today – you’ll be surprised how much you can save.

Your car insurance excess.

Many drivers make a big mistake though. If you automatically select the lowest possible excess, you could pay hundreds more premiums. Increasing your excess could significantly reduce the cost of insurance, and you can save the money you need to finance any repairs if you get into an accident.

You may not need a collision cover.

If your car is brand new, you probably need full coverage, but if it’s old, collision coverage could be a waste of money. Most of what the insurance company will pay for is the value of your car, even if your ride is considered a total loss. Compare the premium costs with and without collision protection and make your decision accordingly.

Minimum insurance coverage may not be enough.

Your province needs a minimum coverage, but that may not be enough to protect you in the event of an accident. (In fact, there are many cars on the road that cost a multiple of the minimum insurance amount per province.) Consider the minimum only: an absolute minimum.

You could save money on car insurance by changing how you pay.

Some insurance companies offer significant discounts if you have your premium deducted from a checking account or charged with a credit card. These automatic payments can also make life more comfortable and eliminate the risk of a missed payment and a harmful omission of cover. Check with your insurance agent or check the insurer’s website for a discount on your payment options.

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