Car Insurance London Ontario

Posted on 30 January, 2022 by Micheal Alexander

The rate you pay for your automobile insurance is partly based on where you live, drivers in the home, vehicle use, how far you drive to work and annual mileage. It’s important to take the time to review your policy as your coverage requirements will often change as you reach important milestones in your life (marriage, having children, changing jobs, retiring etc).

Deciding on what coverage you require is complicated due to optional coverage that is available under the Accident Benefits section of the policy. So, in addition to the standard decisions you need to make, you must also decide how much additional coverage you may require in case of an accident. It’s important to speak to an insurance broker to ensure you understand your options

Tips for Saving Money on Auto and Car Insurance

The following tips may help you save money on your auto and car insurance:

Take advantage of discounts that may be available to you.

Ask us about Multi-Vehicle; Graduated License; Short Commute; Retiree; Conviction Free; Experienced Driver; Student away from home.

Build a good driving history free of accidents and convictions.

This means driving carefully and obeying the rules of the road. Wear your seat belt and don’t use your cell phone or text while driving. Don’t drink and drive.

Don’t pay for coverage you don’t need.

For example, it may not be cost effective to have Collision or Upset and/or Comprehensive Coverage on a vehicle that is worth less than $1,000, because any claim you make would not substantially exceed your deductible or the annual premium.

Consider higher deductibles.

This means you’ll contribute more toward the loss if you have an accident, but it will also mean a lower premium. For example, a zero-dollar deductible usually applies to your DC-PD Coverage. However, you may be able to lower your auto insurance premium by increasing this deductible.

Make sure you always pay your premium on time.

If you pay your premium by cheque or through automatic withdrawals from your bank account, make sure you always have enough money to cover your payment. If your insurance company is unable to withdraw your payment because you don’t have enough money in the account, it could result in the cancellation of your automobile insurance policy. If your policy is cancelled for non-payment of premium many companies may consider you a higher risk, and you could end up paying much more for your automobile insurance. Car Insurance London Ontario

Choose the type of vehicle you drive, wisely.

For example, if you buy a vehicle with a high theft rate, your premium will be higher. Choose a vehicle with good security features. Call us to discuss different vehicle premiums.