10 Ways to Lower Your Car Insurance Rates in Alberta
Many individuals believe that auto insurance premiums are fixed and challenging to reduce, but this is not accurate.
You’ve probably noticed an increase in your car insurance rates in Alberta over the last few years. The escalating costs of vehicle repairs, coupled with a considerable number of accidents, particularly in bustling areas like Calgary and Edmonton, contribute to this trend. It’s crucial to explore your options and find the most suitable coverage, especially if you are looking for:
So what can you do to lower your car insurance rates in Alberta? While you might not be able to control your premiums entirely, there are some things you can do to keep your Alberta car insurance rates as low as possible. This includes:
- Only Submit a Claim when necessary.
- Drive safely and follow the rules.
- Drive less.
- Try to avoid missing payments.
- Try not to switch insurers too frequently.
- Remain insured.
- Raise your deductible
- Install anti-theft devices.
- Equip your vehicle with winter tires.
- Bundle your insurance.
1. In Alberta Only Submit a Claim when necessary.
Car insurance is supposed to be for huge, catastrophic events that you couldn’t pay for on your own. Unfortunately, many people make an insurance claim even if the damage isn’t that severe. This increases insurance costs for everyone. If you can afford to repair the vehicle yourself or it’s just above the cost of your deductible, you shouldn’t Submit a Claim. Talk to your Car insurance broker in Alberta if you’re not sure what to do.
Did you know?
Drivers in Calgary have a higher than average claim rate per person but a lower average number of traffic violations than Edmonton.
2. Drive safely and follow the Alberta rules.
It’s far too easy to be an aggressive driver or to tailgate or speed. But this is exactly why there are so many collisions in Calgary and Edmonton – especially during poor driving conditions. Be patient, drive defensively, and always leave enough space between you and the car in front.
Did you Now?
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The average cost of car insurance in Calgary is $1,420 per year or $118.33 per month.
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The average cost of auto insurance in Edmonton is $1427 per year, or $118.92 per month
3. Drive less.
Did you know that you pay more the more you drive your car? If you commute, you’re also likely paying more as most accidents happen during rush hour. To save money on your insurance, opt for public transit, carpooling, or using your own two feet to get to work. Of course, this isn’t always possible. Transportation options are often limited and our extreme weather makes it difficult to get to work without a vehicle. However, you can still try to save money by driving less.
4. Try to avoid missing payments.
Unfortunately, missing payments generally means you’ll have more to pay down the road. It’s a catch-22. Try to avoid missing payments by putting a reminder in your calendar or turning on auto withdrawal. If you know you’re going to miss a payment, contact your Alberta insurance broker or insurance company.
5. Don’t switch insurers too frequently.
It used to be that switching insurers got you the lowest rates. This can be true, but you may also find your rates go up after the first year or the new business discount has been replaced by a loyalty discount. Discuss your options with an insurance broker – they can help you determine if it’s really in your best financial interest to switch insurers.
6. Remain insured in Alberta.
If it’s possible, remain insured. Even if you just have the minimum third party liability coverage required by law in Alberta. While this won’t offer much protection for you, it will help keep your Alberta insurance rates lower (plus, you’re mandated by law in Alberta to have a certain amount of third party liability protection). Check out why you should never drive without insurance in Alberta
7. Raise your deductible.
Raising your deductible will lower your Alberta car insurance rates. While you will need to pay more upfront in the event of a covered claim, you’ll save over the long term. Your insurance broker in Alberta can help you determine the right deductible for you.
8. Install anti-theft devices.
Some insurance companies provide discounts for security and anti-theft devices. Talk to your broker for more details on what you need to do to cover your stolen car.
9. Equip your vehicle with winter tires.
Did you know that winter tires retain their elasticity even in extreme cold, such as temperatures as low as -40°C? Not only do they prevent snow build-up, but they also significantly improve traction on icy roads. In fact, using winter tires can reduce your stopping distance by as much as 25%, enhancing overall safety during winter driving conditions.
Winter tires make your vehicle safer to drive in winter. This is one reason Quebec and BC require winter tires on all vehicles for certain months of the year. While this can be expensive, you can find good deals on winter tires. Switching your tires at the right time also helps ensure their longevity.
Considering these facts, it’s evident that investing in winter tires is not only beneficial for your safety but also for potentially lowering your auto insurance premiums. By taking proactive measures like this, you can effectively manage and potentially reduce your insurance costs while ensuring optimal safety on Alberta’s winter roads.
Read More:
Essential Tips for a Smooth Winter Road Trip
10. Bundle your insurance.
Insurance companies often offer discounts for multi-vehicle policies as well as if you bundle your car insurance policy with other types of insurance such as home and business insurance.
Your broker is your best resource for saving money on your car insurance rates in Alberta. Talk to them today about how you can save and what your insurance options are.
How to INSTANTLY save on your car insurance in Alberta
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