Car insurance is a necessity for drivers in Canada, especially in Ontario, where premiums can be quite costly. Fortunately, many insurers offer discounts that can significantly reduce your costs. Knowing what these discounts are and how to qualify for them can help you maintain affordable coverage without compromising on protection. Below are seven key car insurance discounts you should explore:
By bundling your home, renter, or other insurance policies with your car insurance under the same provider, you may save up to 20% on your premiums. This is one of the easiest ways to reduce costs if you have multiple types of insurance.
If your household insures two or more vehicles, you could be eligible for a 10-20% discount by insuring them under one policy. Both vehicles must be registered at the same address to qualify.
Long-term customers often receive loyalty discounts. If you’ve been with the same insurer for several years, check if you qualify for a reduction in your premium. The discount amount varies, so consult your provider.
In Ontario, using winter tires from November 1st to March 31st can earn you a discount of up to 5%. Insurers recognize the added safety, and it’s important to inform them once you’ve installed winter tires to take advantage of this discount.
Maintaining a clean driving record with no accidents or traffic violations can help you earn a conviction-free discount. Safe driving pays off as insurers reward you for responsible habits.
Young or new drivers who complete a government-approved driver training course can benefit from reduced insurance costs. This shows insurers that you are committed to safe driving, which can lead to lower premiums.
Vehicle theft is a concern in Ontario, but you can mitigate it by installing anti-theft devices such as alarms or steering-wheel locks. Many insurers offer discounts of up to 20% for vehicles equipped with these security measures.
Each insurer has different criteria and discount rates, so it's essential to consult with an insurance broker to verify your eligibility. Contact our broker, Nidal Abdalhaq, to explore these car insurance discounts and start saving today!