REDUCE YOUR CAR INSURANCE PREMIUMS IN ALBERTA
After a car accident, one of the many issues that you may be facing is a possible increase in your car insurance premiums. While it can be difficult to control these increases in premiums, there are certain things that you can do to keep them as low as possible. In this blog, we will explain 8 different ways that you may be able to reduce your car insurance premiums.
#1 Being a loyal customer
Insurance companies typically like to reward their loyal customers. If you have been insured by a single insurance company or broker continuously for an extended period of time, you may want to ask about a loyalty discount.
#2 Driving rarely or less
The more you drive, the more you are likely to pay in premiums. In order to reduce your premiums, you can try taking other modes of transportation, like public transit and carpooling, to get from point A to point B. You can reduce your Alberta auto insurance by driving less, with options like pay-as-you-go insurance or by demonstrating a clean driving record over time. Insurers consider both the total miles driven and how often you are on the road.
#3 Driver education/training
Some insurance companies will offer a discount on premiums for newer drivers who have completed certain driver education or training courses. The Notice of Driver Education Course Completion form may be used to get a discount on your vehicle insurance.
#4 Increasing safety
If you choose to add any extra security devices onto your vehicle (for example, an anti-theft device), your insurance company may provide a discount on your premiums for this added safety measure. In Alberta, you need to have optional comprehensive or all-perils coverage on your auto insurance policy to be covered for theft, as mandatory insurance does not include this. Installing a certified anti-theft device, such as a TAG system, can help prevent theft and may result in a reduction in your insurance premium. It is best to contact your insurance broker to inquire about potential savings from your anti-theft system.
#5 Multiple policies or vehicles
Many insurance companies offer a discount for customers who purchase multiple insurance policies through their company (ex. home, auto, tenant) or who purchase multi-vehicle policies.
#6 Keeping a clean driving record
Speeding tickets, accidents, and other driving offences can all increase your premiums. Being a safe and responsible driver can help bring those premiums down.
You may also want to consider adding an SEF 39 endorsement to your policy if you are a safe driver with a good driving record. This endorsement, which is also known as “accident forgiveness insurance”, allows your first claim to be completely forgiven, meaning that even if you have to make a claim, it won’t affect your premiums.
#7 Going eco-friendly
Some insurance companies will offer a discount just for choosing to drive electric or hybrid vehicles!
#8 Winter Tires
Here in Alberta, winter driving can get incredibly dangerous. By putting winter tires on your car, you are not only protecting yourself while driving on winter roads, but you could also be decreasing your insurance premiums at the same time. For Alberta’s harsh winters, winter tires are significantly better than all-season tires due to their special rubber compounds that stay flexible in cold temperatures. Winter tires also have aggressive tread patterns that provide better grip and shorter stopping distances on snow and ice. All-season tires lose traction in cold weather and are not recommended for severe winter conditions. Edmonton, and even all of Alberta, is known for extreme cold and icy conditions. Winter tires are highly recommended in Alberta.
Overall, there are many ways that you might be able to decrease your premiums. Be sure to discuss the potential options that might be available to you with your broker or insurance company.
Moustarah & Company
Edmonton Personal Injury Attorney – Motor Vehicle Accident Lawyer Edmonton
Call to book a free personal injury consultation: 780-428-6565
Edmonton: 10150 100 St NW #400