Tips That Can Help Lower Your Auto Insurance Premiums
For many auto insurance firms, it is common practice to send out annual renewal notices to their clients by mail or via e-mail on the assumption that those respective policies will merely be carried forward for another one-year term. Quite often, such communications will include a reference to an increase in premiums for the year ahead, along with a new monthly payment schedule and/or annual fee.
In many cases, these policyholders do in fact allow their coverage to roll over at the new rate, perhaps due to the conveniences offered by keeping the status quo or by resigning themselves to the fact that increased auto insurance rates, like rising gas prices, are just a non-negotiable part of the overall cost of owning and operating a motor vehicle.
And yet, while auto insurance is a necessary expenditure for all vehicle owners, there are steps that they can take to positively influence their premium, that is, lower their annual costs, without negatively affecting their level of coverage. To that end, the experienced insurance brokers at Petley-Hare Limited in Oshawa offer the following tips that can help drivers/owners reduce their auto insurance rates:
Maintain a Clean Driving Record
- At-fault accidents and traffic violations will adversely impact coverage/rates
- Auto insurance firms favour accident-free and conviction-free driving records
Choose Make and Model Judiciously
- Rates can be higher for cars that are theft targets and/or more costly to repair
- Forgoing vehicle look/power for more prudent choices can have sizable savings
Consider Combining Insurance Coverage
- Look for opportunities to combine home and auto insurance with one provider
- Savings could be applicable for both policies, perhaps as much as 10% to 15%
Investigate the Availability of Special Discounts
- Auto insurance companies may offer deductions based on driver age, vehicle age, etc.
- Top auto insurance discounts and how to qualify for them
Review Existing Coverage and Premiums
- What are the current coverage limits and deductibles? Are they the best options?
- Will a higher deductible lower the rate? Does an older car need collision coverage?
Limit the Number of Kilometers Driven Annually
- Consider alternative ways to commute to work (this also helps reduce fuel costs)
Most Importantly, Shop Around
- Do not automatically roll over existing coverage without investigating other options
- Rates will vary among auto insurance companies; use a broker to find the best rate
It is essential to keep in mind that obtaining the right auto insurance is much more than just finding one with an affordable premium. Drivers’ insurance needs will vary based on several different factors, thus their policies should be tailored on a case-by-case basis to provide the best coverage for their respective circumstances; consequently, residents of Oshawa might benefit by consulting the brokers from Petley-Hare Limited, who can apply their extensive knowledge of auto insurance needs for Durham Region to investigate and recommend the best possible option (rates and coverage) for their specific situation.
Auto Insurance Solutions for Oshawa Residents from Knowledgeable Brokers
There are several factors that are taken into consideration when determining the cost of a particular auto insurance policy; these will include such variables or characteristics as:
- Geographical region
- Make/model of vehicle
- Principal use of the vehicle
- Average annual use (kilometers)
- Number of drivers/vehicles insured
- Amount of the deductible (per vehicle)
- Years of driving experience (per person)
- Driving records (violations and accidents)
- Type of coverage (collision, comprehensive)
The auto insurance specialists from Petley-Hare Limited in Oshawa can provide valuable insight and knowledge with respect to these dynamics and how they will affect premiums in respective situations for their clients.
For an auto insurance policy tailored to your explicit needs at the best possible rate, call the experts at Petley-Hare Limited today at 1-800-216-5324 or contact us to consult with one of our knowledgeable professionals and to obtain a no-obligation quote.