Car insurance is required by law for very good reason—driving is an especially risky endeavour, and an accident could leave you in financial ruin. Injuries to third parties can result in serious lawsuits, costly repairs, and other financial headaches. Car insurance is there to protect you from these risks. What is Car Insurance? At the most basic level, car insurance is a contract that transfers the risk of a loss to an insurance company for an up-front fee, called a premium. These companies use several rating criteria to determine how much you should have to pay. If they think you have an elevated chance of getting into an accident, you’ll have to pay more for insurance. While it seems fairly straight forward, there are some important steps to follow when purchasing this type of insurance. Rates always vary between different insurance companies for the same driver, for what seems to be no reason at all. This is because insurance companies have different risk pools (some have more losses than others), profit margins, and rating criteria. How to Save on Car Insurance in Sudbury That’s why it’s crucial to shop around and compare rates from several different companies. Purchasing car insurance in Sudbury is no different—at Sudbury insurance brokers, we have access to a wide ranges of insurance companies in order to find you the lowest rate, for the right coverage. It’s simple: just fill out our instant car insurance quote form—it takes just a few minutes and we only require a few different pieces of information: name, age, gender, postal code, and vehicle. Based on this, we instantly compare rates from up to 15 different companies, and one of our brokers will call you to answer any questions you might have. Unlike other insurance companies, our brokers work for you, not an insurance company. Our brokers are located in Sudbury—not a call centre in Toronto—so we can provide you the local, personalized service you deserve. How to Save Money on Car Insurance
- Be sure to keep a clean driving record: claims and convictions are the main contributor to increased premiums. Don’t speed and drive defensively.
- Shop smart for your vehicle: expensive cars are usually more expensive to repair, and car insurance companies factor this into your premium. Sports cars are more expensive as well, because companies know that drivers of sports cars like the thrill of speed.
- Pick a higher deductible: the more risk you’re willing to take on yourself, the more you can save.
- Most importantly, you need to shop around! Use a comparison site like Shop Insurance Canada to find the lowest rate.