10 Ways to Save Money on Car Insurance in Canada
Car insurance can be a significant expense, but there are effective ways to reduce your premiums. Here are some tips to help you save money on car insurance in Canada:
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1. Shop Around and Compare Quotes
Different insurers offer different rates, so it's crucial to compare quotes. Call Sharp Insurance at 1.877.218.2008 to get quotes from various companies and find the best deal.
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2. Bundle Your Policies
Many insurance companies offer discounts if you bundle multiple policies, such as home and auto insurance. Ask your broker about the multi-policy discount.
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3. Increase Your Deductible
Raising your deductible can help lower your premium, the deductible amount you select is the amount you will need to pay before your policy responds when a loss occurs.
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4. Take Advantage of Discounts
Insurance companies offer various discounts. Common discounts include:
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5. Install Safety Features
Cars with safety features like automatic emergency breaking, airbags, and anti-theft devices often qualify for discounts.
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6. Maintain a Clean Driving Record
A clean driving record without accidents or traffic violations can significantly reduce your insurance costs.
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7. Invest in a Driver Training Course
If you’re a new driver, a driver training course could help you save on your premium. Be sure to call your Sharp broker to find out which courses could qualify you for discounts.
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8. Drive a Car That’s Economical to Insure
Luxury and sports cars can cost more to insure as repair costs for these vehicles are generally higher, opt for a vehicle with a good safety rating to assist with lower insurance costs.
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9. Pay Your Premium Annually
Paying your premium in a lump sum annually, rather than monthly, can often result in a saving.
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10. Review Your Coverage Regularly
Review your policy annually to ensure you’re not overpaying or missing coverage that would benefit you. Be sure to review items such as the use of your vehicle, your deductibles, policy limits and endorsements.
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By implementing these strategies, you can save money on your car insurance without compromising your coverage. Always be proactive and stay informed about potential savings opportunities.