4 safety features that can earn you an auto insurance discount
Your auto insurance provider wants to assume the least amount of risk possible on your policy, so the less risk you pose, the lower your premiums can be. One way to help lower your risk is to ensure your vehicle is as safe as possible. Here are 4 safety features that can earn you a discount on your auto insurance premiums.
The standard trio
The trio that comes standard on all modern cars, anti-lock braking systems (ABS), air bags, and automatic seatbelts, all improve the safety rating of your vehicle, giving you a break on your premiums. The higher the safety rating of the vehicle you are looking to insure, the higher the discount you will see on your auto insurance policy.
Driver assist technology
While some may argue that as a whole we are too reliant on technology, there are some good advancements that have increased safety on the roads. The development of rearview cameras and blind spot/line departure detection have helped to keep the roads a little safer. If you have a vehicle that is equipped with approved driver assist technology, you could be eligible for a discount on our premiums. Be sure to speak to your broker about this discount, since the technology is still new, not all insurers have jumped on the bandwagon yet.
Winter tires
Every year as the weather begins to cool down, you hear the suggestion everywhere, get winter tires. And, for good reason. Not only do winter tires keep yourself, your family, and other drivers on the road safer, you are also eligible for an auto insurance discount. Back in 2016 the Ontario government made it mandatory for all insurers to offer those with certified winter tires installed a discount on their premiums.
Anti-theft/recovery systems
Adding approved anti-theft and vehicle recovery systems to your car can also reward you with discounts. Some vehicles come with anti-theft devices already installed, and for those that don’t, there are industry-approved systems on the market. Like with the driver assisted technology discount, be sure to speak with your broker to know exactly what systems will lead to discounts on your premiums.
Getting your discount
To get the best discount for your car’s safety features, speak to your auto insurance broker. Some discounts may only be applied if you bring them up, so do not be shy when asking for them. If you are not satisfied with the discounts being offered by your insurer, it may be time to start shopping around for a new auto insurance provider.
Because not all of these safety features need to be verified by your insurer, it is important that you are honest with your insurer when claiming that your vehicle has any of the above safety features. Lying to your insurer about factors that make up your policy is considered fraud and can have extremely negative consequences. You can be denied compensation in the event of a claim, lose your current coverage and be denied future applications, and in extreme cases legal action can be taken against you.