How to Shop for Car Insurance in Ontario
If you're in the market to buy a new car, you'll need to shop around for car insurance. Before you drive your new wheels off the lot you'll need to show proof of insurance to the dealer; otherwise they won't hand over the keys to the car.
Shopping for car insurance is easy. Sometimes insurance gets a bad rap, but the truth is you'll be happy you have it if you ever have an accident, theft or damage to your car.
The first step to shopping for car insurance in Ontario is to get quotes from several different insurance providers. This will ensure you're getting the best deal possible. Compare apples to apples when getting different car insurance quotes. Choose the exact same coverage with different providers to compare prices.
It’s possible to use an online comparison tool to get several quotes, reducing the need to spend a lot of time calling different companies.
If you're shopping for car insurance in Ontario and not finding insurance rates that fit into your budget, there are several different ways to lower your car insurance costs. When considering what type of car insurance you want, keep these tips in mind:
Consider the type of vehicle for insurance costs
If you haven't purchased your new vehicle yet and are deciding between a couple of different models, check out the costs of car insurance on each before you commit to buying one car. Sometimes choosing one model over the other can save you hundreds of dollars in car insurance premiums.
Inquire about the mandatory minimums
As is in many provinces, there is mandatory car insurance coverage for all drivers in Ontario which consists of third-party liability, property damage coverage as well as accident benefits coverage and uninsured automobile coverage.
Drivers can always choose to purchase additional insurance, but at least the minimum is mandatory. You can find more information on the Financial Services Commission of Ontario website.
Ask for all applicable discounts
Shopping around to get the best quote is a great way to ensure you're getting a good deal. But don’t forget to ask for any applicable discounts. If you're over 25 years old, a recent college graduate, a woman (sorry guys it's true), or a member of a professional order, you may be eligible for discounts on your car insurance.
Sometimes employers, associations, and clubs have also negotiated low group rates with certain insurance providers. Shopping for car insurance is like going for your annual check-up at the doctor: you should always over share.
Talk about your past driving record
Car insurance quotes are based on risk; the better driver you are the lower the risk to the insurance company and therefore the lower your costs will be. Be sure to tell your insurance company if you have a clean driving record. Let the insurer know that you have no tickets for traffic or moving violations (parking tickets are O.K.) and if you completed Driver's Education. These are all factors that work in your favor when it comes to shopping for car insurance in Ontario.