6 ways to save when insuring your car
Driving on a mountain road
Sometimes it can feel like the price of car insurance is out of your control. But, there are actions and decisions that you can make to help you save on your auto premium. To get the most bang for your buck, we’ve pulled together some top tips about how to save on your auto insurance, without skimping on coverage.

How to save on car insurance

When you’re looking to save on car insurance, you might think it’s enough to just shop around for the best deal (which is important to ensure you’re getting the best policy for you). But, there are other things you may not know about that can help cut down on your auto insurance costs:

  1. Increasing your deductible. This is one way to reduce your costs, but it’s only something you should do if you know you can afford to cover the higher amount if you need to make a claim. Also, keep in mind that your leasing or financing company (if you have one), may have requirements around what your policy’s deductible can or can’t be.
  2. Combining your home and auto policies. When you insure both your home and vehicle with the same insurance company, you’ll usually be given a multi-policy discount.
  3. Insuring more than one vehicle with the same company. Most insurance providers offer a discount if you insure more than one vehicle with them – it’s really that simple.TIP: Different vehicles can cost different amounts to insure. This is because of vehicle ratings. Next time you’re shopping for a new vehicle, don’t forget to check how much it will cost to insure – you may just find some extra savings!
  4. Switching to winter tires. If you live in Ontario, having winter tires can help you stay safe and save on auto insurance. Just make sure you have true winter tires – they’re the ones that are marked with the three-peak mountain snowflake icon. You’ll also be required to have them on all four of your wheels from November to April. Even if you don’t live in Ontario, as part of safe winter driving, winter tires can help to make sure you get to where you’re going (accident-free).
  5. Being claims-free for six years. No claims for the past six years? Lucky you. This will be reflected in your price. You can also help to protect this squeaky-clean record by adding accident forgiveness to your car insurance policy (at Sonnet, we automatically add this coverage to your auto policy at no extra charge as long as you qualify).
  6. Showing good driving behaviour. Just a parking ticket or two? You could save on your insurance if you’ve gone at least three years without a driving conviction.

BONUS: Adding a group discount. Did you know that you could save on your insurance just for being a part of a certain group? That’s right – whether you’re an alumni, a member of a professional or affinity group, or an employee (or retiree), you could qualify for a group discount. In other words, you could get preferred (aka discounted) insurance prices just for your membership. Wondering if you’re eligible? Get in touch with your insurer to find out if you qualify for a group insurance plan.

Car insurance is mandatory across Canada, but that doesn’t mean you have to pay an arm and a leg for it. From being safe on the road to making thoughtful insurance decisions, you can secure a fair price for the coverage you need.

Coverage your car’s always wanted at a competitive price.