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We’re Revealing Secrets on How to Save on Car Insurance

Posted Jan 8th, 2021 in Media, General, Insurance Tips, Auto Insurance, Did You Know?, In the News

As the new year begins, many of us have set goals and targets we hope to achieve. One of these goals is usually to save money and reducing your car insurance premium is a great place to start.

We’re Revealing Secrets on How to Save on Car Insurance, Youngs Insurance, Ontario

It's important to keep in mind that the lowest insurance premium doesn’t mean you’re getting the best coverage. But there are ways to save money on car insurance and we’re revealing some helpful tips on how to do so.

IMPORTANT DISCLOSURE >> The following tips are subject to your driving record and insurance carrier (among other things) meaning not everyone qualifies. Speak to your insurance broker for options that work for your particular situation. 

Six Tips on How to Save on Car Insurance

1. Minimize the amount of liability coverage on vehicles you don’t use

Some of us have vehicles that we store away during the winter months and although liability insurance is mandatory, you can reduce the amount of coverage you have on these vehicles to lower your premium.

2. Remove collision coverage

During the winter, you could remove collision coverage on your summer car(s). This is a money-saving option as short term insurance plans are usually more expensive. It’s important to still have these vehicles insured for theft and vandalism while in storage.

3. Install winter tires

Most insurers offer discounts for installing winter tires on your car, however, be sure to do this at the start of winter to get the full benefits! Read more about the winter tire discount here

4. Make insurance adjustments

If you drive less throughout the winter because you work from home, leave the country for an extended period, or for any other reason, be sure to inform your insurance broker. This could lead to a decrease in the overall premium.

5. Drive more cautiously

Driving carefully should always be a priority; not only can a collision be dangerous, but it will also increase your premium, so be sure to drive with caution in the harsh winter weather.

6. Store your vehicle

Storing your summer car away in an enclosed space is a great way to extend its life while preventing rust and water damage.

With the information we have provided, speak with your insurance broker to see if any of these options are applicable for you. We hope you found these tips helpful!

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