Tightwads Instructions on Saving on Ontario Auto Insurance

I can't think of anyone who likes paying for auto insurance, in particular when they are paying too much.

Lots of contend for your insurance dollar, and it can be difficult to compare rates to get the lowest rate

It's important to shop coverage around occasionally because insurance rates are constantly changing. Even if you got the best rates a year ago you may be paying too much now. You can find a lot of wrong information about auto insurance on the internet, so I'm going to show you some great ways to slash your auto insurance rates.

Ontario Auto Insurance Quote Comparison

There are several ways to shop for auto insurance, and some are less time-consuming than others. You could spend your day talking about coverages with insurance companies in Ontario, or you can stay home and use the internet to get pricing more quickly.

All the larger companies are enrolled in a marketplace that allows shoppers to enter their coverage request one time, and every company then gives them pricing determined by their information. This system prevents you from having to do quote requests to each individual auto insurance company. To submit your quote information now, click here (opens in new window).

The one disadvantage to using this type of form is you cannot specify which companies you want pricing from. If you would rather choose specific providers to compare rates, we put together a list of the cheapest auto insurance companies in New York. Click here for list of insurance companies in New York.

It's up to you how you get prices quotes, just make absolute certain that you use the exact same coverage limits and deductibles for every company. If your comparisons have different liability limits it will be very difficult to decipher which rate is best in Ontario. Having just a slight variation in coverages may result in large price differences. And when quoting auto insurance, remember that comparing more company's prices will increase your chances of finding the best rates.

Tips to Get Lower Ontario Rates

It's important that you understand the rating factors that go into determining the price you pay for auto insurance. Understanding what impacts premium levels empowers consumers to make smart changes that may reward you with lower auto insurance prices.

Listed below are some of the items used by your company to calculate rates.

Battle of the sexes - Statistics show that men are more aggressive behind the wheel. That doesn't necessarily mean that women are BETTER drivers than men. Women and men have accidents at a similar rate, but the males cause more damage. They also have more aggressive citations such as DWI and reckless driving. Youthful male drivers tend to get in the most accidents and thus pay the highest rates.
High credit ratings translate to low rates - Credit score is a huge factor in determining your rates. If your credit history is lower than you'd like, you could be paying less to insure your by repairing your credit. People with high credit ratings tend to be more responsible than drivers who have poor credit.
How many coverages with the same company - Most auto insurance companies will give a discount to customers who have multiple policies with them. It's known as a multi-policy discount. Discounts can add up to ten or even up to twenty percent in some cases. Even if you're getting this discount it's in your best interest to shop around to verify if the discount is saving money.
Safer occupants lowers premiums - Cars with high safety ratings tend to have better insurance rates. These vehicles protect occupants better and lower injury rates means less money paid by your insurance company and lower rates for you.

Be sure to get all your discounts

Insuring your vehicles can cost a lot, buy you may qualify for discounts that many people don't even know exist. Some trigger automatically at quote time, but some may not be applied and must be specifically requested in order for you to get them.

Accident Forgiveness - A few companies will allow you to have one accident without raising rates as long as you don't have any claims prior to the accident.
Braking Control Discount - Vehicles with anti-lock braking systems are safer to drive and will save you 10% or more.
Anti-theft Discount - Vehicles equipped with anti-theft or alarm systems can help prevent theft and therefore earn up to a 10% discount.
Drive Less and Save - Driving fewer miles could qualify for better rates on cars that stay parked.
Defensive Driver - Completing a course in driver safety can save you 5% or more depending on where you live.
Payment Discounts - If paying your policy premium upfront rather than paying monthly you could save up to 5%.

As a disclaimer on discounts, most discount credits are not given to your bottom line cost. A few only apply to the price of certain insurance coverages like liability, collision or medical payments. So even though they make it sound like you can get free auto insurance, auto insurance companies aren't that generous. Any amount of discount will cut the amount you have to pay.

For a list of companies offering auto insurance discounts in Ontario, click this link.

How do I know if I need professional advice?

When it comes to choosing coverage for your vehicles, there is no one size fits all plan. Everyone's situation is unique so this has to be addressed. For example, these questions might point out whether or not you would benefit from an agent's advice.

Does my policy cover me when driving someone else's vehicle?
Can I get a multi-policy discount for packaging my home and auto coverage?
Does my personal auto insurance policy cover using my vehicle for business use?
Is my dog or cat covered if injured in an accident?
Should I have combined single limit or split liability limits?
Are my tools covered if they get stolen from my vehicle?
What happens if I owe more than my vehicle is worth?

If it's difficult to answer those questions, you might consider talking to an insurance agent. To find an agent in your area, fill out this quick form or you can go here for a list of companies in your area.

Additional information can be read on the website for the New York Department of Financial Services. Click here for link. New York consumers can learn about insurance regulations, find out industry alerts, read consumer alerts, and find disaster information.

Do the work, save more money

Cheap auto insurance can be found online as well as from independent agents in Ontario, so you should compare both in order to have the best chance of saving money. Some companies don't offer online quoting and most of the time these small insurance companies sell through independent agents.

While you're price shopping online, you should never reduce needed coverages to save money. In many cases, an insured cut collision coverage and discovered at claim time they didn't purchase enough coverage. Your aim should be to buy enough coverage for the lowest price.

In this article, we presented some good ideas how to lower your auto insurance rates. The key thing to remember is the more rate comparisons you have, the better chance you'll have of finding lower rates. You may be surprised to find that the most savings is with a smaller regional carrier. Smaller companies may have significantly lower rates on certain market segments compared to the large companies like .