Five Top Tips to Lower Auto Insurance Premiums
The more you know about insurance and how it works, the more you’ll be able to save off your premiums. The good news is that www.kanetix.ca has compiled a list of the most common money-saving tips to get you started.
Insure all your cars on the same policy
Most insurance companies offer a “multi-car discount” for customers who insure more than one car on the same policy. This alone can bring you a savings of up to 10 per cent!
Insure your home and car with the same insurer
You can get up to 5 per cent off your premiums if you insure your car and your home through the same insurance company. This is commonly referred to as a “multi-line discount” and is offered by most insurance companies as an incentive to get your home insurance business too.
Increase your deductibles
A deductible is the portion of an insurance claim you agree to pay. Your insurance company picks up the rest. By taking on more financial responsibility, the insurance company considers you less of an insurance risk and will adjust your premiums accordingly.
In other words, the higher the deductible you choose, the lower your insurance rate. How much are we talking about? That depends, but online quotes through www.kanetix.ca show that increasing your deductibles from $500 to $1,000 you could save about 5-10 per cent!