5 common auto insurance discounts

By HUB SmartCoverage Team on September 7th, 2017

Auto insurance is a necessary expense for any car-owner in Canada which is why it's in your best interest to speak with your insurance broker and ask them which discounts may be available to you. To get you started, here are five of the most common discounts you can receive on your auto insurance policy.


Bundle with your other insurance needs

By bundling your various insurance needs with the same provider,  not only will you benefit from the convenience of having all your policies in one place, but you could save an average of 15% on your premiums. Many insurance providers offer discounts for those who insure multiple cars, or multiple policies (such as auto and property) together.


Maintain a clean driving record

By avoiding tickets and at fault claims, you can be assured you're receiving the lowest price possible on your auto insurance. Not only will this will help keep your premiums from rising when it comes time to renew your coverage, but many insurance companies will offer discounts for drivers with clean records.  


Own a vehicle with a high safety rating

There are many factors that affect your insurance premium, and the vehicle you are attempting to insure is a major component of your rate. The Insurance Bureau of Canada (IBC) is a great resource to utilize when shopping for auto insurance.  The IBC will explain vehicle safety and theft stats, and how they impact the cost of insurance. Many insurers will offer discounted rates for cars with higher safety ratings.


Increase your vehicles safety

Many insurers will also give you a discount on your auto insurance by adding additional safety features, such as winter tires.   Winter tires help drivers gain better control of the road in snowy conditions and therefore are less likely to lead to a claim. You could on average receive a 5% discount on your auto insurance for winter tires.


Claims and ticket forgiveness

Driving violations and claims can cause your premiums to go up, increasing the price you’ll pay every month for three years or longer. Over the long run, not having an accident or claim on your record, (which can drive up your monthly payments) can make a big difference.


A mulitiude of factors are used to calculate auto insurance premiums and with so many insurance providers to choose from, we encourage you to shop around to ensure you are paying a fair price on your auto insurance.

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