Cheap Car Insurance in Ontario – How to Get Instant Savings

car insuranceThe big question on people’s minds living in Ontario is “is there such a thing as cheap car insurance?” Many people believe that car insurance is car insurance and there isn’t such a thing as cheap car insurance in Ontario, that all auto insurance companies in Ontario charge the same rates.

Well, I am not sure if “cheap” car insurance in Ontario exists but I can certainly tell you that by doing your research and going online and getting an Ontario auto insurance quote, you will certainly see that not all auto insurance companies in Ontario are the same and YES their rates do vary!

Shopping rates should go without saying, you should take the time and do a little comparison shopping to get an Ontario online car insurance quote. BUT … Even of you decided to not shop and wanted to see a reduction in your car insurance there is one thing you can do right away that could save 10%. It’s as simple as looking at your deductible and making a change.

The deductible on our insurance policy is the amount we agree to pay and then our auto insurance company picks up the rest of the tab. The majority of people set their deductible at $250 to $500 which at first thought makes sense. We want to limit our financial responsibility as much as possible … but is that wise?

Think about this for a second. We all know that when it comes to auto insurance companies in Ontario or anywhere for that matter, the minute we report more than one claim our premiums raise. Because of that, we typically won’t make a claim unless we really have to and are more apt to pay for damages etc out of pocket avoiding the hit on our auto insurance.

Having said that would you make an insurance claim for $500 or maybe even $700-$1000? My guess is you probably wouldn’t if you were aware that you would be paying more for your car insurance. Here is another thought, insurance claims stay with you for 10 years, if you were to submit a claim for say $700 you could end up paying a lot more than if you had of just paid for the expense out of pocket in the first place.

So, where am I going with this? Well, if you are more apt to pay for damages out of your own pocket as long as they weren’t more than say $1000, then why have a deductible of only $250-$500? If you raise your deductible to $1000 you’re saving on your rate from the get go.

Cheap car insurance in Ontario might not necessarily exist, but you can certainly save as much as 10% if you raise the deductible a little more than where you have it. Do your due diligence, see for yourself on how raising your deductible affects your premium and do your comparisons.

Also remember that not all auto insurance companies are created equal. What I mean by that is, SHOP RATES. If you take the time out of your day to get an Ontario online car insurance quote you could save yourself even more money. Let’s face it money is better in your pocket than in someone else’s!!!

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