8 tips to lower your car insurance premium

Has working from home changed your driving habits? Maybe someone else is now the principal driver, or you're moving? It might be time to change the names on your policy or update your address. Making sure your information is current is key.

Take a few minutes to contact your insurance company and make sure your coverage meets your needs and profile.

Short on time? If you're comfortable with digital solutions, online services can save you precious minutes.

Insuring all your vehicles on the same policy can result in a significant discount. If you own another vehicle like a second car, an RV, a scooter, a snowmobile, or even a boat, you can save money with a multi-vehicle discount from your insurance company.

Having home and auto insurance with the same insurance company will make it easier to manage your policies, but that's not the only benefit. You could also get a discount on your premium by combining the 2 types of insurance.

Plus, you'll pay just one deductible if something happens and both your vehicle and home are damaged. 

When shopping for a car, remember to think about insurance costs, which vary by model.

A big reason for these differences is that some models are just more popular with thieves, such as SUVs, 4-wheel-drive vehicles (4x4s), pickup trucks and luxury cars.² Once you've narrowed down your choices, request a quote for the models you're thinking about. You can even get quotes online to quickly compare premiums and see which one will be cheaper to insure. This will help you get the facts and create a realistic budget.

If your car is more than 10 years old, you could reduce your coverage to save on your premium by foregoing full-coverage insurance and only keeping the mandatory liability insurance.

Just remember that liability insurance only covers damage caused to others. That means you'll have to pay the full cost of repairs if you have an at-fault accident or if your car is vandalized.

Before making a decision, talk it over with your insurance provider so you fully understand what would happen if you have a car accident.

Some insurance companies offer usage-based insurance programs, like Ajusto®, so clients can get personalized premiums based on their driving habits. This type of program evaluates your driving habits by checking certain factors (like speed or braking) and assigns you a score. These programs can give you more control over your car insurance premium. With Ajusto, you can turn your good driving habits into savings on your car insurance. You also save 10% on your premium for the first 6 months just for signing up.

Driving safely is a good way to avoid a loss, but it can also help you save on your premiums. There's more to good driving than obeying the speed limit. For your safety and the safety of others, you need to be aware of what's going on around you at all times and avoid distractions. Did you know that texting while driving is one of the leading causes of accidents?¹

Driving safely can help you avoid demerit points from an offence, which would cause your insurance premium to go up.

The higher your deductible, the lower your premium. Just remember that you need to be able to pay the deductible in the event of a claim, so think twice before increasing your deductible from $500 to $1,000, for example.

Contact your insurance company to find out the different scenarios. Depending on your profile and policy, you may not save as much as you expect. Talk to your insurance agent for advice that fits your needs.