Car insurance quote

Even if you have had insurance before, it’s not 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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Is car insurance mandatory in Canada?

Yes, car insurance is mandatory in Canada. Auto insurance is regulated by provinces, which means each provincial and territorial government in Canada has its own unique regulations surrounding it. However, every region of Canada has made it compulsory. What varies are the minimum coverage requirements in each province. For example, Alberta and Ontario have both stipulated that drivers must carry a minimum of $200,000 in third party liability coverage at all times.

Driving without car insurance in Canada can have serious consequences, as doing so is against the law. Repercussions vary by province but if caught driving uninsured, you may be slapped with a fine worth thousands or even tens of thousands of dollars (and this fine will only go up if you’re caught driving without insurance a second time). Driving without insurance is not worth the risk, no matter where you live in Canada. So do yourself a favour and contact BrokerLink today to find an auto insurance policy that’s right for you. We will take the time to understand your needs and budget in order to find you the right car insurance policy. Plus, we’ll make sure your policy complies with local laws.

How to save money on car insurance

Everyone wants affordable car insurance. Luckily, there are many ways Canadians can save money on auto insurance, even if they have high premiums. From combining multiple insurance policies into one to installing winter tires on your vehicle, check out this list of the top tips and tricks for saving money on car insurance.

Insure cars together

Buying multiple car insurance policies from the same provider can save you money. Typically, the more money you spend with an insurance company, the more likely they are to give you a discount. So if you own more than one car (perhaps your spouse or adult child has a car), insuring them together can result in a significant discount of up to 15% or 20% on each vehicle’s car insurance.

Bundle multiple insurance policies

Bundling insurance policies is another great trick to save you money on car insurance. Many car insurance companies offer a serious discount (up to 15%) to customers who purchase more than one policy from them. So if you need car insurance in addition to home insurance, insurance for leisure items like a cottage, boat, or ATV, travel insurance, or business insurance, consider buying them all from the same provider.

Install winter tires on your vehicle

Canada is known for its harsh winters, however, in many parts of the country winter tires are not mandatory. If you live in one of these provinces or regions, then choosing to install winter tires on your vehicle could save you money on car insurance. Insurance companies recognize that snow tires make driving safer. With better capabilities in snowy and icy conditions, these specialty tires can reduce your chances of getting into an accident. Therefore, choosing to invest in winter tires could save you up to 5% on your car insurance policy throughout Canada.

Consult with a car insurance broker

Auto insurance brokers work for the customer by searching for a solution from a range of insurance companies. When you choose to work with a reputable insurance broker from BrokerLink, we will help you find the best possible coverage at the best possible price. We are experts in the field and will ensure we find you the most competitive rate possible. We take the time to shop around on your behalf, compare quotes, and discover all the possible discounts you are eligible for. Ultimately, if you are looking to save money on your car insurance in Canada, working with a reliable car insurance brokerage like BrokerLink is the way to go. Plus, BrokerLink offers free insurance quotes to all Canadian drivers.

Buy a hybrid or electric vehicle

Buying an eco-friendly vehicle, such as a hybrid or fully electric vehicle, has benefits beyond reducing your carbon footprint. Not only can buying such a car save you money at the gas pump, but it can also save you money on your auto insurance policy. Several major insurance companies in Canada offer discounts of up to 10% if you drive an environmentally-friendly vehicle, and with so many automakers releasing new hybrid and EV offerings for all budgets, purchasing an eco-friendly car has never been easier.

Increase your deductible

A general rule of thumb within the insurance industry is as follows: the higher your deductible, the lower your insurance rate. So if you are looking to pay less for car insurance, consider a higher deductible. The average car insurance deductible is around $500 in Canada, though most insurance companies will offer options of higher amounts. Increasing your deductible to $1,000 or more could save you money. However, increasing your deductible is not a decision that should be made lightly. We recommend consulting with an auto insurance broker to learn about the pros and cons of doing so.

Pay annually vs. monthly

If your budget allows it, we always recommend paying your insurance annually rather than monthly. Paying monthly typically comes with administrative fees that end up costing you more.

Sign up for driving school

Attending an approved driving school is one final way to lower your insurance premiums. Insurance providers understand that such training is likely to make someone a safer, more confident driver, and as such, they may lower your rate. So if you are a young or new driver in Canada, enroling in driving school could help you save money on car insurance.

Request a free auto insurance quote today

BrokerLink is pleased to offer free car insurance quotes to all Canadian drivers. No matter what vehicle you drive or where you live in Canada, we invite you to take advantage of our accurate and competitive auto insurance quotes.

To request your car insurance quote online, click the “Get a quote” button. From there, you will be required to answer a few basic questions about yourself, such as your age, location, and the make, model, and year of the vehicle you drive. Upon submitting your answers, you will receive your free car insurance Canada quote in as little as five minutes.

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