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Getting a Car Insurance Quote

Getting a car insurance quote can be a little intimidating at first. If you’ve never had insurance before, the process is full of terms and exceptions that can be difficult to understand. You may be wondering: how your deductible works, when you’re not covered under liability, and how you’ll have to pay if you damage your vehicle against a brick wall.

Even if you have had insurance before, it’s always easy to decide if it’s worth it to change plans or whether the premium you’re paying is really worth the out-of-pocket costs. This is largely because insurance is a complicated industry, full of industry jargon and lengthy contracts. BrokerLink doesn’t want anyone to be in the dark when it comes to getting quotes for themselves. We’ll give you a little more information about how car insurance quotes work, how your rate is determined, and how you can decide on the right plan for you.

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How to Get a Low-Cost Car Insurance Quote

Ultimately, reducing your overall coverage is going to have a significant impact on your car insurance quote. However, you also need to consider how your low rates will impact how much you spend in the event of an accident. For example, you may have a high deductible that’s difficult to pay or you may end up owing the additional costs if you exceed the maximum costs of the policy.

In addition, you don’t always have the option to purchase the cheapest level of coverage. For example, if your car is leased or financed, you’ll likely need comprehensive coverage to obtain a loan.

A better way to get low insurance quotes is to shop around and compare quotes. As you investigate, you can get a better sense of the leeway you have. Some drivers may save hundreds by choosing a specific carrier, while other drivers may only see a few cents difference between different quotes.

Factors That Affect Your Car Insurance Rate / Quote

There are several factors that will affect the rate you’re quoted:

  • Location: Where you live and work will have an impact on how much you pay. Maybe you need to travel into high-crime areas for your job. Maybe you live in a lowland area that’ often impacted by storms. Your premium will reflect the risks in your location.
  • Local laws: Each province has its own laws on the minimum amount of coverage.
  • Type of car: Different cars have different insurance premiums. Once a broker knows what you drive, they give you a better idea of how much you can expect to pay.
  • Responsibility: Some car insurers will take into account your credit history or school grades. The more responsible you are in everyday life, the more likely it is you’ll qualify for a discount (or two) through your carrier.
  • Miles covered: If you drive once a week to church and back, the wear and tear on the car will be minimal. It’s also less likely that you’ll be getting into an accident because you spend less time on the road. But if you’re driving hundreds of miles a week at all hours of the day, your chances of getting into a collision are higher (whether it’s your fault or not).

It’s important to be honest about your habits when requesting a quote. While it may be easy to lie about how often you drive and where you drive it to, an insurance company may deny a claim if they believe you didn’t disclose all the details. BrokerLink is here to help you figure out how to minimize car quotes Canada, so you don’t pay a penny more than you need to.

Driving experience matters

As you might imagine, the above factors play a lesser role than your actual driving experience. New drivers are often the ones with the highest rates, simply because they don’t have the background to prove their abilities.

Speeding tickets, accidents, DUIs: these can also negatively impact the rate of your premium. While car insurance quotes will take into account the history of the person, an insurance company will also play the odds too. An 18-year old boy with a sparse driving history is simply more likely to take chances than a 45-year old woman with an impeccable record behind her.

The best way to lower your rates is to drive the speed limit, limit your exposure to alcohol and drugs, and always drive defensively. The more you pay attention to the other drivers on the road, the more you can anticipate their moves. This is especially important to keep all accidents off your record. Even if collisions aren’t technically deemed your fault, an insurance carrier may eventually review your rate if you get into several accidents in a row.

Car ownership duration will benefit you

Car ownership duration may be a little confusing if you’re seeking a quote, but it makes sense once you consider how people purchase and use cars. Who owns the vehicle and what they do with it can make a big difference when it comes to your rates.

On the declarations page of the policy, there may be more than one person named, such as a spouse or adult child. If you’ve driven the same car for a decade without incident, you’ll pay less than if you purchase new cars every year that both your spouse and teenage driver use to get around. And if you do buy a car in your name for your 16-year-old to drive, remember that you may be held liable for their behaviour because the policy will have your name on it. Ensure that you’re covered. Get your car insurance quote today.

FAQs About Car Insurance Quotes

Are car insurance quotes accurate?

Insurance quotes are typically accurate, presuming you were truthful when inputting your information. However, quotes are not set in stone until your policy is reviewed and finalized. Please note that your carrier will inform you of any changes to your rate so you always know the price before your policy goes into effect.

Do insurance quotes affect my credit score?

No. While insurance companies will look at your credit score before issuing a quote, they’re technically using a soft pull enquiry, meaning it won’t affect your overall score. This way, you can gather as many quotes as possible before making your final decision.

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