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An easy way to save on car insurance in Brampton
Everyone knows that you need car insurance to drive; it's the law. What you don't need, however, is to pay any more than you have to. The secret to saving on your Brampton car insurance is to shop around. Car insurance rates change on a quarterly basis, which means even if you got the lowest rate last year from one company, a different company might offer you a better rate this year.
The Financial Services Commission of Ontario (FSCO) oversees changes to insurance rates. Insurance companies can apply for changes every three months. FSCO then reviews these requests and either approves, denies or requests amendments. We track all these changes on our Ontario Auto Insurance Company Rate Tracker. Give it a look if you’re curious to see just how much car insurance rates can change.
Why is Brampton auto insurance so expensive?
Brampton drivers know all too well how expensive it can be to obtain car insurance in this growing city. As if Ontario’s rates alone weren’t bad enough, Brampton drivers face some of the highest rates in the province. While many of the factors that go into determining your rate can be controlled by you, others can’t. For example, some neighbourhoods and cities cost more to obtain insurance in, especially in more densely populated areas, due to the amount of claims that happen there—whether its local collisions or elaborate examples of fraud.
Brampton residents who shop around for auto insurance should expect the following factors, among others, to be used in determining car insurance rates:
- Where you live: Motorists that reside in Canada`s ninth largest city, face the same driving challenges and conditions experienced by drivers elsewhere in the GTA. The traffic and sheer number of drivers on the road all play a role; more drivers equal more cars which translates into more chances of being in a collision or even theft. Car insurance in urban neighbourhoods is generally more expensive than in rural areas.
- Your commute: Brampton drivers are a prominent part of the Greater Toronto area and this will be reflected in car insurance costs. Naturally, working closer to home or choosing to use public transportation will help reduce insurance rates.
- The car you drive: As you know, the vehicle model you drive has an impact on the cost of insurance you pay. Many drivers actually select cars knowing that insurance providers use this information to figure out the insurance premiums to charge. A vehicle’s safety ratings are often taken into account, as are repair costs and the likelihood of a claim. Some vehicles are more susceptible to theft, for example.
- Your driving history: It should be of no surprise that your driving record is of importance to car insurance providers when determining your insurance premiums. If you’ve been any collisions in the past, or have any infractions, tickets or charges on your record, you might see this reflected in a higher car insurance rate. If you have a clean driving record, you may see this reflected in discounts and lower rates. Based on Kanetix.ca data, about 62 per cent of Brampton drivers reported having at least one collision on their record when obtaining auto insurance quotes on Kanetix.ca. Far less (42 per cent), have reported getting at least one ticket.
Fun fact: When filling out information while shopping for the lowest rates on Kanetix.ca, we noticed that Brampton drivers love their Honda Civics. This was the most popular car make and model, followed by the Toyota Corolla. In third place is the Honda Accord followed by the Mazda3, and Toyota Camry reported as the fourth and fifth most popular models.
Other ways you can pay less for Brampton car insurance
Invest in winter tires and roadside assistance:
A majority of Kanetix.ca customers from Brampton (85%) have winter tires and take advantage of the discount offered by insurers province-wide. If you purchase winter tires and keep them installed from November to April you’ll be eligible for this discount. Since introducing this measure, the Ontario government has helped thousands of drivers to save an average of 5 per cent on their auto insurance rates while also increasing road safety.
Many car insurance providers also offer a discount to drivers enrolled in some type of roadside assistance program. Drivers in Brampton are comfortable with the idea, as 34 per cent of car insurance shoppers mention that they are a member of a roadside assistance program.
Ask what discounts you’re eligible for:
Don't be shy, it's your money. For example, did you know that if you put multiple insurance policies under one insurance provider you are in line to receive a hefty discount? Auto insurance firms agree and use this sound business practice to encourage customers to combine different types of policies under the same provider. It's a great way to save five to 15 per cent off each policy. In Brampton, more than half (57%) take advantage of multi-line discount plans.
When shopping for auto insurance, there are other discounts to inquire about before signing up. You will discover that savings are available for those who complete driver training courses. Additionally, installing better safety and security features on your vehicle, belonging to certain organizations and being retired lets drivers rack up further discounts.
Compare rates regularly:
Compare rates annually at renewal is great, but if you’re experiencing a major life change that’s also a good time to compare. For example, if you buy a new car, move to a new place, get married (or divorced), add drivers to your policy (such as your teen), get a ticket or in an accident, change jobs or retire, shopping around can help you save.
When it comes to buying a new car in particular, many drivers are getting into the practice of not just comparing car prices, but also the cost of insuring them. After all, what good is saving $1,000 off a vehicle if the cost of insuring it with your current provider increases by $100 a month?
Before you buy, shop around to see if you could get a lower car insurance rate in Brampton.