How to Control Your Rates
Now for the good news! You can control your insurance rates. Here are some easy ways to save on your car insurance premium:
Bundling your Home and Car Insurance
Combine your property and automobile insurance for the best discounting. Some companies offer up to 15% discounting per vehicle for combined policies. You can also maximize on bundling discounts by insuring multiple vehicles with the same company.
Protecting your Driving Record
We recommend purchasing Accident Forgiveness so that your first accident won't be held against you. This coverage could save you hundreds of dollars as an at fault accident stays on your insurance record for 6 years. And, be selective and cautious on who you allow to drive your vehicle - when you lend your vehicle, you lend your insurance.
Leveraging your Credit Score
Many insurance companies are now offering credit score discounting. If you have a high credit score, you may eligible for up to a 25%* discount! Since a credit check cannot increase the cost of your insurance, and the soft credit check does not impact your credit score, we strongly recommend taking advantage of this discount. Learn more about Credit Scoring and Insurance.
Policy Reviews
Regular reviews can save you money and help you to identify any coverage gaps. Let your Broker know about any changes in your occupation, daily commute, drivers in your household, and annual mileage to ensure your rates are up to date and accurate.
Knowing when to Make a Claim
Insurance is meant to be there for you when you need it, but there are times when we will recommend that you consider covering the cost of repair for small accidents yourself to avoid impact to your driving record. We would only recommend this when there is absolutely no risk of injury. Compare the cost of making the claim in terms of future rates, against the cost of the repair. Anytime there is risk of injury, you should submit a claim to your provider.
Consider Usage Based Insurance
Some insurance companies are making an effort to personalize insurance rates and reward good drivers through technology called Telematics. Prior to this new technology, insurance companies grouped together all drivers into broad categories. Telematics offers usage based insurance which tracks individual driving habits including your acceleration, hard braking, time of day driving, and daily kilometers to assess your personal risk factor. This technology works through a mobile app. and can save you up to 25%-30% on your insurance rates, plus a standard enrollment discount.
Talk to Us! As the trend of higher insurance rates pushes forward, an Independent Insurance Broker will help you navigate and control the rate you pay. Huestis Insurance Group is Atlantic Canada's largest Independent Insurance Broker, and is backed by the best insurance companies in Canada.
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