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10 Steps To Getting the Best Car Insurance

Posted by  On December 14, 2020
Ways to get the best car insurance

Living in New Brunswick, a car — and of course auto insurance — is essential. And while it gives you peace of mind to have insurance, it’s still one more bill to pay.

It’s essential to make sure that you are adequately covered if you do get in an accident. That being said, you also don’t want to pay more than necessary.

The great news is that there are many ways to save on your auto insurance. These are our top ten tips for getting the best auto insurance deal in New Brunswick:

  1. Use a broker
  2. Review your current coverage.
  3. Ask about discounts.
  4. Pay your bill in full.
  5. Think about your location.
  6. Consider changing the vehicle you drive.
  7. Keep a good driving record.
  8. Consider raising your deductible.
  9. Know that significant life events can lower your rates.
  10. Call us at Archway Insurance!

1. Use a Broker

The first thing you need to do when you want to save money on your auto insurance is use a broker. A broker works for you, not the insurance company, so they shop all the insurance options to find the best rates for you. They also have the expertise to make sure you’re not just getting a better price, but the right coverage.

2. Review your current coverage

Take a look at your current coverage. You may be paying for coverage you don’t need. Here are two types of coverage you may not need:

  • Collision coverage.

    This pays for damage to your car if you hit something like a fence or tree.

  • Comprehensive coverage

    This pays for damage in non-collision related events such as fire or theft.

If your car is ancient, you may not want to pay for comprehensive insurance as the replacement value is low. If you rarely drive your car or drive it in a location that it’s unlikely you’ll have an accident, then you may not want to pay for collision coverage.

3. Ask about discounts

Another great way to save on auto insurance is to ask for discounts. Here are some ways you can get a discount on auto insurance:

  • Telematics – you’re guaranteed to save just by signing up
  • Bundle it with another type of insurance, such as homeowner’s insurance.
  • Insure more than one car with the same company.
  • Let us know if you are part of any groups or organizations, such as an Archway Advantage group.

It never hurts to ask for a discount, and it could save you a lot!

4. Pay your bill in full

You can avoid service charges with insurance companies by paying your bill once a year, instead of going for monthly payments. If your insurance needs change during the year, you can always get a refund later.

It’s also crucial to pay your bill in full, so your insurance company doesn’t drop you for non-payment. You may have to pay more in the future for insurance or have trouble getting a payment plan if you have let your insurance lapse or are cancelled for non-payment.

5. Think about your location

One of the things that impact your insurance rates is how often you drive your car. If your coverage had you commuting every day and you now work at home, let your insurance company know. It could impact your rates.

Some companies will let you sign up for a usage-based/telematics insurance program. To qualify for it, you’ll need to install a monitoring device that tracks how many kilometres you drive.

6. Consider changing your vehicle

If you’re looking to lower your auto insurance rates, then you may want to change the vehicle you drive entirely. An old, reliable car will cost you a lot less to insure than a new one.

Insurance companies have to factor in things like the cost of repairs and the likelihood of an accident into their rates. If you have a luxury car, it’s going to cost more to insure than a basic Northern American built model that does not require expensive replacement parts that ship from overseas.

7. Keep a good driving record

If you have a clean driving record, this will be reflected in your insurance rates. Someone who has had many speeding tickets or crashes will always pay higher rates than someone with no accidents on their record.

If you have been in an accident in the past, this doesn’t mean you’ll have high insurance rates forever. When your insurance comes up for renewal each year, check with your insurance broker as enough time may have passed since the accident that it will no longer affect your rates.

You may want to consider buying accident forgiveness as part of your coverage. It may cost you a bit more upfront, but it will save you money if you are in an accident.

8. Consider raising your deductible

You can lower your insurance rates by having a higher deductible. If you choose to do this, you should make sure you have enough saved to cover the higher costs.

9. Major life events can save you money

Insurance companies charge more or less depending on various factors such as your age or marital status. So if you’ve hit a milestone such as turning 25, getting married, or having a baby — let your insurance company know. It could lower your rates!

10. Give Archway Insurance a call

At Archway Insurance, we’re here for all your auto insurance needs. We can talk to you about your coverage needs, and of course, all the ways you can save money on your auto insurance.

Now You Know How to Get the Best Auto Insurance Rates in New Brunswick

While it’s essential to ensure that you’re adequately insured, you shouldn’t pay more than you have to for auto insurance. You’ve learned a lot of ways you can save on your auto insurance — from shopping around to asking for discounts or raising your deductible.

For more information on how to get the best auto insurance deal, call Archway Insurance at 1-833-536-0529 or contact us here.

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