You can save a bit of money by paying for your insurance once per year rather than once per month. This helps the insurance company save on the administrative costs of billing you every month and a lot of the time they will pass the cost savings on to you. It means you will have to pay a larger amount all at once, but in the long run it can help you save as long as you have that money up front.
One of the ways you can find out the cost of auto insurance in Toronto is to use a car insurance calculator. Online car insurance calculators make it easy for you to fill out your information so you can assess your coverage and cost options. You'll get a sense of the average Toronto car insurance rates you can expect to pay, based on the information you provided. They are definitely a great resource when shopping for car insurance.
Not all collisions affect your insurance rates, but crashes where you’re deemed at fault will drive up your premiums. Insurers care about your three-year driving record, because that’s how long convictions stay on your driving record. A single speeding ticket may not have a huge impact on your premiums, but repeated infractions could cost you – and serious driving crimes that result in court convictions can really hit hard.
If you’re driving an older model car in Toronto and not considering purchasing a newer vehicle for a while, investigate the cost of upgrading to anti-lock brakes, air bags, automatic seat belts, installing anti-theft devices or putting in a burglar alarm. Car insurance companies in Toronto often provide discounts for such products or enhancements. If the cost of doing so is favourable versus the long-term savings in your car insurance rate, it’s worth the investment. For older vehicles, it’s also worth considering dropping your Collision coverage to reduce your premiums.
Discounts may offer another path to lower auto insurance prices for Brampton drivers. Most, if not all, insurers offer discounts, incentives and price breaks when a driver meets conditions. Insuring more than one car or combining home and auto insurance with one company may qualify you for discounts on those policies. Similarly, insuring more than one driver may lead to price breaks.
Keep in mind that the minimum car insurance coverage required is determined by the Government of Ontario and may vary in comparison to Alberta, New Brunswick, Newfoundland/Labrador, Nova Scotia, Prince Edward Island, and Quebec. In addition, premiums can vary depending on the area in which you reside, typically being higher in major urban centres, such as Toronto.