4 Money Saving Tips for Auto Insurance Quotes
Buying auto insurance in Canada is one of those necessities to have that you absolutely never want to use. But if you’re going to pay premiums for something you plan to never use, it only makes sense that you should learn everything you can do to keep premiums down and prevent paying for extras you don’t really need.
Shopping Around for Auto Insurance in Canada — Made Easy!
With EasyInsure.ca you can find out how selecting between leading auto insurance providers from across Canada will save you money on your next policy. Simply select — Start Auto Quote to begin shopping around. It’s one of our helpful tips that will save you money on your next auto insurance policy.
Tips to Help You Reduce Auto Insurance Premiums
Review Your Current Policy:
At least once a year it’s a good idea to refresh yourself with a quick bird’s eye view of all of your insurance terms, most of all the coverage on your vehicle. As our vehicles age they decline sharply in value, and if we’re replacing our car every so often we should look for coverage that fits the vehicle.
Is it time to drop comprehensive and collision on your vehicle? Forgoing extra coverage can save a significant chunk of your auto insurance premium.
If you’re a family with a new driver on the way, seek out an accredited driver training program. The new driver in your home will learn more about safety on the road and will be a better driver for it. Plus, with your new driver’s completion of an accredited course, you may be entitled to a significant discount.
In order to secure the best deal for your auto insurance in Canada you don’t really have to check with all of the approximately 100 insurance companies that operate in Canada. But you should get as many as you can. Shopping online using websites like EasyInsure.ca makes it easy to check many insurers across Canada and make direct comparisons of the premiums available to you.
Know Your Broker:
What could be better than getting your auto insurance quotes from someone who is scaling the entire available market on your behalf? Unfortunately, that’s not really how brokers operate. While a broker does have access to several top quotes, they usually represent only a finite number of the available insurers in your market, so it’s definitely a step in the right direction to check with a broker. When you get a quote from an agent that represents an insurance company on the other hand, that agent is only providing a single quote from one insurer.
The most important factor in getting the best possible quote is shopping around. Checking with multiple agents and more than one broker is a good way to go. You should also make an online quote like EasyInsure.ca part of your shopping list. EasyInsure.ca isn’t limited to a single insurer and can bring you the best of many quotes in your market.
See for yourself. Get an auto insurance quote from EasyInsure.ca and see if you’re overpaying for your car insurance.
Canada slow to adopt online buying for auto insurance
Allstate Canada launches new quick quote online tool in Ontario
TORONTO — October 4, 2012 — As Allstate Insurance Company of Canada prepared to launch its online auto insurance quote generator in Ontario this week, experts at the insurer reviewed Canadians’ habits when it came to buying auto insurance online. What they found was that while Canadians may be leaders in online shopping, and while more than half (51%) have bought goods or services online, Pollara’s 2012 InsurPoll shows that only two per cent bought their current auto insurance policy online. In contrast, according to a comScore Auto Insurance Report, 17 per cent of American consumers have purchased car insurance online. So what makes buying insurance different?
“Insurance is a big purchase, and Canadian insurance companies have yet to push their online selling features to customers to the degree companies have in the United States,” says Amy Woods, Director, Online Experience at Allstate Canada. “Most Canadians know they may need to talk to an insurance agent or broker about their specific needs at some stage in the process, so they’re reluctant to complete their purchase online. However, we do know Canadians like to research insurance online before making that call.”
Given this, Allstate developed its online quote tool with the consumer in mind. With just six key questions Canadians can get a price range for their auto insurance. If they like what they see they can answer a few more questions to get a more personalized quote, or at any time decide to move on to a chat with an agent in Allstate’s contact centre to ask questions and make sure they have the right coverage based on their needs and driving habits.
Allstate Canada first piloted this online quoting tool in Quebec in November 2011 and expanded it to Alberta in June 2012. The insurer has seen online quote completion rates (consumers who answer all the questions and get a final estimate) increase to almost 70 per cent in those two provinces. “On the old version of our auto quote tool, only one in five consumers who started a quote completed the entire questionnaire. We saw this as a huge opportunity to improve the experience, so we started to develop a way to give customers what they wanted, the quote, as quickly as possible,” says Woods. “Auto insurance quote generators will typically ask about 40 questions before you can get any estimate, where we’ve narrowed it down to either six questions for a range of quotes or 16 to provide you with a personalized estimate.”
What goes into determining car insurance rates?
Each insurance provider calculates premiums differently, but typically policies account for these five factors:
Age of driver;
Where the driver lives;
The model of vehicle, though not the colour;
How far (in kilometres) the car is driven daily;
Driving record and the number of additional drivers using the car.
What the policy covers is another important cost factor. A policy with more types of coverage will have higher premiums than one with just the minimum required by the province.
Most auto insurance companies, like Allstate Canada, offer reduced insurance rates when insuring multiple vehicles on the same policy or if there are other policies with the same insurance provider such as home and tenant insurance. Allstate Canada offers more tips on how to save on car insurance here. For more information about common auto insurance questions, please visit, http://www.allstate.ca/webpages/auto-insurance/auto-faq.aspx.
About Allstate Insurance Company of Canada
Allstate Insurance Company of Canada is one of Canada’s leading producers and distributors of home and auto insurance products. «The Good Hands Network®» enables consumers to contact Allstate Canada through one of 83 community-based Agencies, directly online at www.allstate.ca and through the Customer Contact Centre at 1-800-Allstate. Allstate Canada is committed to making a positive difference in the communities in which it operates. This year, Allstate Canada celebrates 25 years of partnership with MADD Canada in the effort to protect us all from impaired driving. In 2010, Allstate Canada, in partnership with the National Hockey League Players’ Association (NHLPA), created the Allstate All-Canadians program, a mentorship program designed to create future community leaders through the sport of hockey.
Buying insurance doesn’t have to be challenging. If you’re looking for insurance for your vehicle, these simple tips will help you feel comfortable as you go through the purchasing process, whether you’re buying car insurance in Alberta, Ontario, or anywhere else in Canada.
How to get car insurance in 6 easy steps
Shop Around. Coverage levels and options vary amongst the many automotive insurance providers in today’s market. Each customer’s unique situation will merit different premiums. Buying the first policy that’s quoted to you might not be in your best interest in this competitive marketplace. Even using just one broker when you’re looking for insurance quotes likely isn’t going to give you the widest variety of options, as most insurance brokers only offer policies from a select few insurers. Online car insurance quote engines like InsuranceHotline.com make shopping around quick and easy for any driver.
Compare Apples to Apples. If one insurance company offers $2 million of liability coverage, then make sure you’re looking at quotes for the same amount of coverage from other insurance companies when you’re making your decisions. This is the only way to get an accurate comparison. When you compare insurance quotes, don’t just take the premiums into consideration. Look at the coverage and the provider to make sure that you’re seeing the full picture.
Educate Yourself. You need to do some research about the insurance company offering you the policy. Make sure that they are reputable and have solid financial backing. They should also offer a 24/7 claims number in case you’re involved in an accident or need to file a claim after regular business hours.
Understand How Premiums Are Calculated. Insurance premiums are generally different for every driver, on every vehicle. There are so many influential factors that insurance companies must take into consideration when they calculate premiums. Firstly, they look at the driver. This includes the individual’s driving record, age, gender, insurance history, and years of driving experience. Then, the insurer takes into account the vehicle, looking at the year, make and model of car. Some vehicles cost more to repair, some types are stolen more frequently, and some are statistically involved in more accidents. All of these factors help to determine your premiums. Finally, your insurer will review where you live, (insurance in major urban areas is generally more expensive than insurance in rural areas), why you drive your car, (business, life or pleasure) and how often you are on the road. All of these factors contribute to the probability that you might have an accident or be a victim of theft and need to make a claim, and therefore cause a difference in your premiums.
Determine the Right Coverage for You. Not every driver requires the same coverage. A vehicle that is being financed or leased requires full coverage, including liability, collision, and comprehensive insurance. Lien holders (i.e. finance companies, banks, etc) require assurance that they will be repaid for the money they loan out – regardless of what happens to the vehicle. In Canada, the only coverage that is legally required on every vehicle is liability – to protect the general public from injury against the driver of a vehicle. In some cases, especially with low value cars (including older, high mileage, or poorly maintained vehicles), collision or comprehensive coverage may be an expensive insurance cost that will not pay off. When the value of the repairs in the case of a claim exceeds the value of the insured vehicle, than the insurance company is entitled to pay out the value of the vehicle to the owner, instead of the repair costs. Declining collision and/or comprehensive coverage can significantly reduce your premiums, and is something that should be considered on lower value vehicles.
Ask About Discounts. Car insurance can be costly, depending on the person and vehicle being insured. But there are many ways to help reduce the premiums that you pay. Insurance companies offer discounts to their clients that can significantly lower rates. Some of the discounts that you might be eligible for include: seniors rates; claim-free discounts (if you’ve been claim free for the last 3 years consecutively), multi-product discounts (if you have more than one insurance product held with the same insurance provider), and affiliation discounts (either paid, i.e. CAA, or professional, i.e. union). Ask your insurance agent which discounts are available to you.
Buying insurance may seem like a daunting task, but being informed and asking your insurance broker the right questions will help you get the coverage you need. The first step should always help you to find the lowest rate, and getting quotes online is a quick and easy way to get cheap car insurance premiums.