You don't have to be a superhero to get great auto insurance premiums. All you need is a little behind-the-scenes knowledge. The following is Kanetix.ca's version of the Fantastic Four; the Fantastic Four money-saving auto insurance tips, that is. Starting at number...
4. In the driver's seat? Drive carefully
OK, perhaps obvious, but true. Drivers with no accidents, tickets or insurance claims almost always get cheaper auto insurance coverage. Your driving record is a key factor in determining your insurance rate. Tickets and at-fault accidents affect your insurance rates for years. Tickets affect your insurance rates for up to three years and accidents stay on your record for at least six! With a less than perfect driving record, you can find yourself paying much higher insurance premiums over the years.
3. Increase your deductibles
A deductible is the amount of a claim that you must cover before your insurer pays the remaining balance. Often people select lower deductibles, so their out-of-pocket expenses are minimal at the time of a claim. But the truth is, the higher your collision and comprehensive deductibles the lower your auto insurance premium. So why not minimize your out-of-pocket expense now rather than in the case of a "what if"? You can shave hundreds of dollars off your auto insurance premium if you raise your deductible to the highest amount you can comfortably afford.