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(NC)-The more you know about insurance, the more you'll be able to save on your premiums. The good news is www.kanetix.ca has compiled a list of the most common money-saving tips to get you started.
Insure All Your Cars on the Same Policy
Most insurance companies offer a "multi-car discount" for customers who insure more than one car on the same policy. This alone can bring you a savings of up to 10 per cent.
Insure Your Home and Car With the Same Insurer
You can get up to 10 per cent off your premiums if you insure your car and your home through the same insurer.
Often referred to as a "multi-line discount", this is offered by most insurance companies as an incentive to get your home insurance business too.
Increase Your Deductibles
A deductible is the portion of an insurance claim you agree to pay. Your insurer picks up the rest. By taking on greater financial responsibility, the insurance company considers you less of an insurance risk and will adjust your premiums accordingly.
In other words, the higher the deductible you choose, the lower your insurance rate. For example, online quotes through www.kanetix.ca showed that increasing your deductibles from $500 to $1,000 could save about 5-10 per cent.
Choose a Car That Costs Less to Insure
Sure they all have 4 wheels and get you from point A to B, but each car is rated differently - mostly on its previous claims history.
For example, the more likely the car is to be stolen or in an accident, the more you will pay for insurance to cover it. If you are buying a new car, compare quotes online first to see how your new car rates with insurers.
Shop Around
Auto insurance coverage may be standard throughout the province, but insurance premiums are another story.
Coverage from one company to the next can vary by hundreds of dollars. The only way to make sure you are getting the best price for your policy is to shop around and compare rates from several companies.