11 Ways Good Drivers Can Save on Auto Insurance in Ontario

Apr 26, 2019

We hear it all the time:  I haven't had an accident or ticket in years. Why is my insurance company raising my car insurance premiums??   

Are you a good driver in Ontario paying too much for your car insurance? At Begin Insurance, we recognize the best drivers should get the best rates.  Makes sense, right?  Here are 11 ways we can reduce your auto insurance premiums.  

1. Telematics

Also known as Usage Based Insurance, this requires you to download an app or install a device in your car that will monitor your safe driving.  If you have few instances  of speeding, hard braking or hard cornering, it could reduce your insurance rates.  You can save 10% just by installing the device.  Even if you drive really fast and hard, your rates won't increase because of that and you get to keep the 10% discount.  If you exhibit safe driving, you can save up to 25%.  This may be the best-kept secret in insurance right now.

2. Years of No Claims

Each year that you go without having an accident will decrease your car insurance rates.  Some insurance companies will reward you for 6, 9, 10 or even 20 years of accident-free driving.  If you haven't had an accident in 20 years and been insured the whole time, you deserve the absolute best car insurance rates.

3. Pay Your Bills

Most people don't know this, but having a cancellation for non-payment of premiums on your insurance record will actually increase your rates.  Ensuring that your insurance payments clear your account and don't go NSF will make sure you keep your insurance rates low.

4. Bundle Home insurance

Combining your home, condo or renters insurance with your car insurance can save you anywhere from 10% to 20%, or more.  This just makes so much sense to do.

5. Pay in Full

Paying your annual policy in full will save you 1.3% on your auto insurance and 3% on your home insurance.  These savings can really add up.

6. Buy a Newer Car

Some insurance companies give a discount for buying a car when it is brand new.  It shows that you probably have good credit and are a responsible individual.  We like that and will reward you with lower auto insurance rates.

7. Buy an Older Car

Sometimes it doesn't make sense to buy a new expensive car.  If you're a young driver, have first-time insurance, or just don't have the finances to buy a new car, getting an older car is the way to go and having only one way coverage (Liability Coverage only) will greatly reduce your rates.

8. Live in a Low-Risk Area

Where you live is one of the biggest factors in your auto insurance premiums being too high.  But why?  Urban areas like Toronto, GTA, Hamilton all tend to have more accidents and higher insurance claims payouts.  We call this claims frequency and severity.  It is not just about how you drive but others on the road who might crash into you as well.  Living in less populated areas areas like Kitchener Waterloo, Guelph, Cambridge, Ottawa will greatly reduce your car insurance premiums.  Rural areas have the lowest car insurance rates; there are just fewer things to crash into.

9. Shop Online

Comparing prices online is definitely the way to go nowadays.  Whether on desktop or on your cell phone, comparing your auto insurance rates can save you hundreds, even thousands of dollars.  It's quick and easy too!  Begin Insurance has 17 insurance companies fighting for your business on our website.  We know we'll have low price options for you from insurance companies who want your business and will price it accordingly.

10. Winter Tire and Other Auto Insurance Discounts

From winter tire discounts, good student, multi vehicle, loyalty, short commute, driver training, and many more, there are a plethora of car insurance discounts to be had.  After you've done a insurance quote online you, can always call us to make sure you've got every discount possible included in your quote.  It's our job!

11. Have a CAA Membership

Did you know one third of drivers in Ontario are members of CAA?  You can save anywhere from 5% to 20% for being a loyal CAA member.  That's a great deal to go along with their other great services.

Give us a try, we can help.  We have 17 Insurance companies that will fight for your business, there is no obligation, and we could save you some money to spend it on things that matter to you.

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About the author Sean Graham:

Sean Graham has been an insurance broker in Ontario for the past 18 years.  He is considered a pioneer in the digital insurance space and has been featured on CTV’s Canada AM, CBC, City TV, AM 640, Newstalk 1010 and Toronto Star.  In 2014 he was named one of Canada’s Top 10 brokers under 40.  Sean believes strongly in putting the consumer at the center of everything the business does.  He is also an advocate for fostering the next generation of insurance talent through education and mentorship.

Photo by Clem Onojeghuo on Unsplash

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