Error message

The spam filter installed on this site is currently unavailable. Per site policy, we are unable to accept new submissions until that problem is resolved. Please try resubmitting the form in a couple of minutes.
Sponsored Posts

How to Save Money on Car Insurance

  • 1
  • 2
  • 3
  • 4
  • 5
Total votes: 0

Being busy moms (with lots of kids), we are always looking for ways to save whether at the grocery store, on clothes or kid’s activities. Did you know you might also save on car insurance?

Here are a few tips that could put more money in your pocket but first, a little about how this insurance thing works.

You insure your car against possible damage/injury – to yourself or the vehicle. Your regular payments go into a pool, the contributions of many pay for the few who need it.

You pay a premium – a what?

A premium is calculated based on the probability that you will need to dip into that pool of money, or make a claim. Your premium amount, or what you pay each year, is calculated based on a number of factors including,

- Where you live.

Did you know that there are more collisions in urban centres? You pay more when you live in an area with a higher collision rate.

- What car you drive.

My minivan might cost less than your Ferrari. Seriously though, the make, model and year of a car are associated with certain risk factors.

- Your driving record. A collision-free record can help you qualify for certain discounts or competitive rates.

- What you use your car for. The more you drive, the higher your risk. Your premium will depend on how often you use your car, and for what purpose (work, lots of travel, or just a trip or two each week to the grocery store).

And more.

So how can we reduce our premiums?

Here are a few tips for saving on car insurance:

  1. Drop collision coverage on an older car.
  2. Look for package deals when you insure your car and house with the same company (not applicable in BC).
  3. Install an approved auto-theft system on your car.
  4. Do your research: buy a car with a lower-cost insurance rating.

 Here are two great resources for accessing more information about car insurance:

-       Is the cost of your insurance affected by your neighbourhood?

-       Do red cars cost more?


Although this post has been generously been sponsored by IBC, the opinions and language are all my own, and in no way do they reflect The Insurance Bureau of Canada.

Add Comment

To prevent automated spam submissions leave this field empty.