Driving your car without insurance is arguably one of the worst decisions you can make. Remember, it’s not just about how good and how safe a driver you are. There are other external factors that can get you caught right in the middle of an accident that can destroy your car and put your life at risk too.
A lot of people tend to be lazy when it comes to getting car insurance. For them, it’s extra paperwork and expenses to be made as well. However, no matter how bothersome it is, it’s something that you should work for. If you’re diligent enough to process your insurance, you can even get a good deal out of it as well.
There are many ways to protect your car. To be honest, it’s not really practical to have your car covered 100%. There are some deductibles and coverages that you should focus more on. How much does an average auto insurance cost anyway?
Average Cost Of Insurance
The average cost of insurance in Canada is around $1,320 annually, which amounts to a premium of $110 per month. The cost of car insurance is affected by many factors including your location, age, credit score, and even your history when it comes to accidents and road laws. You can pay less if you’re smart about your deductibles.
If you think about it, $1,320 per year isn’t that heavy. What you get out of the coverage can be a thousand’s worth of money saved because of repairs and damages. It’s a lot more practical to get insurance than it is to cover repair fees without insurance than it is to pay for your monthly premium.
If you want to get the most out of your insurance, you need to be smart about what you get. While there are many factors that can affect your annual premium, there are also a ton of ways in which you can effectively lower the cost as well.
Install Security Systems
Adding car alarms, dash cams, and other security systems to your car will let insurance providers know that you are a responsible and careful car owner. Aside from that, they might even give you a discount if you invest in security systems for your car as well.
Basically, having security systems means that your car is better protected even when you’re not around. For insurance companies, this is a good sign that they are covering a car that has lesser chances of being damaged or stolen.
Review Your Deductibles
You can customize your deductibles so that you get to pay less for your premium. Read through your deductibles carefully and check which of them you don’t need to get. Some deductibles aren’t always necessary.
Look For Multi-Car Insurance
If you have multiple vehicles in your garage, it’s very important that you get insurance for all of them. However, it’s actually bad practice to get insurance for each of the cars separately. If you want to cut costs effectively, try to look for insurance that comes with discounts for multi-car coverage.
To put it simply, multi-car coverage gives all of your cars the coverage they need. However, since this is basically a bulk deal, you’ll be able to get massive discounts as well. Most insurance providers offer this deal, so it’s best to shop around and look at the deals they offer.
Look For Bundle Discounts
Aside from multi-car insurance, you should also take advantage of bundled insurance packages. This means looking for insurance packages that give you discounts if you buy car insurance and home insurance from one provider. Most insurance providers offer these as well.
Shop Around
There are literally thousands of insurance providers that can offer you good deals. It’s a big mistake to rush in and get covered by the first provider you deal with. If you want to get the most of your money, then it’s important that you shop around and weigh your options first.
It’s also generally wiser to get referrals and read through reviews online before you pick insurance. You might be missing out on amazing deals if you try to jump into the first offer that’s given to you.
Getting auto insurance is a big step towards giving your car and your money the protection it needs just in case of an accident or a mishap on the road. As long as you know what you need to spend on insurance, you won’t get duped into bad deals. Hopefully, these tips help you out significantly.
