British Columbians pay the highest insurance premiums in the whole of Canada. The reality most times, however, is that you don’t need to spend as much as you are. There are many obvious ways to save money on auto insurance in BC and some less known ones, which will help you reduce expenses.
Here are some of the best ways to ensure that your car and wallet are both protected from excessive insurance payments.
Research on Low Mileage Discount Offers
One of the advantages of having a brand-new car or a used car with low mileage of less than 5,000 km every year is that they are viewed as low risk by insurance companies. If you do not drive your vehicle regularly, use public transit to get around on weekdays, or you have more than one car, this is something you should explore. Have an Insurance representative bear that information in mind when shopping for deals as you may be eligible for a discount. Checkout now Car Finance In Vancouver BC .
Get insurance costs before you even buy a vehicle
If you are buying a new or used car, you have the advantage of finding out what car insurance premiums you are likely to pay. The auto insurance premiums depend on the price of the vehicle, the cost of repair, the manufacturer’s safety record, and the chance of theft. Some cars are a favorite target for thieves, and others prove generally expensive to fix. Your Insurance agent will help you assess your car choice beforehand and let you know how much you are likely to pay for auto insurance. This information will help you make a better decision.
Pay higher deductibles
Deductibles refer to your periodic payments when your insurance policy is activated. By making higher, more frequent payments, you will save more money. For example, paying $600 deductible instead of $250 can lead to a saving of up to 30% on your collision and comprehensive auto insurance coverage in BC. Paying over $1000 will save you as much as 40 percent, more in some cases. However, check that you can afford to make the deductible payment as at when due so that you are not late on payment when you have a claim.
Do Basic Coverage on Older Cars
If your car is more than ten years old, you should consider removing collision and comprehensive auto insurance from your plan. The reason is that if your car gets into an accident, chances are the cost of the repair might not be worth the cost of the premium you are paying. You don’t want to end up paying more in premium than the actual value of the car you are insuring. Have a conversation with your insurance broker and find out how you can reduce special coverage items from your package and go as lean as possible.
Bundle all your insurance coverage from the Same Insurer
As with most goods and services, you save money and get a discount when you purchase more than one item. This works with insurance. You get a reduction in your premium when your home and vehicle are insured by the same Insurer. If you have several cars, you can put them under the same plan. Staying longer with the same Insurer also gives you access to exclusive discounts and rates which they offer their long-time clients. If you have your insurance products with different companies, you can shop around and see which company can provide you with the best deals based on your current situation. More often than not, you will find many insurance companies with multipolicy discounts for you.
A Clean Driving Record is an advantage.
An experienced driver who does not get into accidents or get traffic tickets always pays the least for auto insurance in BC. If you have speeding tickets or distracted driving tickets, you should try to dispute them in the court to ensure that your driving record is as clean as possible. Bear in mind that parking tickets, photo radar, and minor tickets do not affect your insurance rates. By being a good driver that obeys all traffic laws and does not text and drive, you will save on your auto insurance.
Ask your insurance company for a tracking device.
Auto insurance companies in BC offer tracking devices to customers as a way of keeping tabs on their driving habits. The trackers also make it easier for the insurance company to reward good drivers. The device typically is installed into the car and records speeding, braking, driving time, and frequency. Don’t worry about your privacy as these devices never record your vehicle location like an anti-theft device. The insurance company generally compiles the data from the vehicle and use it to offer a discount. The better your driving behavior, the less you pay for your auto insurance. There is also never any penalty for bad behavior in case you get into difficult situations. Get the best vehicle finance here Vehicle Auto Finance In Surrey British Columbia .
Earn Credit Card points on your insurance payment
If you are using a credit card that offers cash back or rewards points, you can use the card to make payments and get those benefits. Because it is billed as a regular payment, you can quickly pay it off on the credit card and get yourself more reward points that you can spend on other things.
Auto insurance in BC does not need to create an extra financial burden to you. Make sure you shop around and compare rates before committing to a broker. Being a good driver works in your favor also. The secret to saving on auto insurance in BC is not getting sucked in by discounts, offers, cashback, and other marketing tactics that insurance companies use. Be sure to factor those into the final price before agreeing to anything.Columbians