Bundling more than one car onto a single insurance policy can save you money, as can bundling your car with your home insurance. Some insurers offer “good student” discounts to full-time post-secondary students who can prove their good grades. Many insurers also offer discounts to members of professional organizations or affiliation groups – so it pays to ask about discount relationships.
We believe that affordability shouldn't get in the way of quality - they can even go hand-in-hand. We'll provide the best car insurance policy for your needs with reliable protection at a fair price, should you ever need to use it. View our car insurance coverage where you can compare our standard coverage with the many additional options we offer for drivers who want more protection than what their state requires.
To follow that excellent advice, we’ll continue with another common tip: increase your deductible. It’s not uncommon for those who increase their deductible from $350 to $500 to save 10 to 20 percent on their annual car insurance cost, and possibly a lot more if you bump up the deductible to $1,000. As you discuss this with your car insurance broker or representative in Toronto, why not ask about how combining policies, or bundling insurance packages, can save you money. It’s quite reasonable to expect a 15 percent discount by having one company providing both your home and car insurance requirements. Also, if you have the means, paying your annual premium in one lump sum is another method to lower insurance costs.
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Direct Compensation Property Damage (DCPD): Available only in New Brunswick, Nova Scotia, Ontario, P.E.I. and Quebec, this covers the cost of loss or damage to your car in an accident for which you were not entirely responsible. To qualify, the other driver has to be identified, insured and found to be at least partially at fault. In some provinces, you can no longer sue another person for damage to your car.
Rental car insurance: A rental car insurance rider is a good product to buy as additional protection with your auto insurance policy. It is an add-on that extends your existing individual car insurance to a rental vehicle. It costs around $20-$30/year. If you decide to get rental car insurance in a rental location, it will cost you $15-$20/day. See the difference?