How Can I Reduce My Car Insurance Rates?

How Can I Reduce My Car Insurance Rates?

Many Canadians are paying far more than they have to on their car insurance. If you’ve received a notice that your premiums are increasing, there are a few things you can do to reduce your insurance rates. Here are just a few of the most effective.

Maintain a Safe Driving Record

The more accidents and tickets you have on your driving record, the higher your premium will be. A number of insurance companies offer discounts for those who have safe driving records, up to 25% off.

Bundle Your Policies

If you have other insurance policies already – home insurance, boat insurance, life insurance – it’s worth asking if they offer discounts for bundling your policies! Most will in order to earn your business.

Insure Several Drivers or Vehicles Together

Do you have a number of drivers in your household? If so, you may be able to get discounted rates. The same will apply to the vehicles that you own. If you purchase insurance for a single vehicle you’ll likely pay more than if you were to insure several vehicles with the same insurance company. If you have multiple drivers and vehicles to insure, always ask if they will offer you a bulk rate.

Drive Less

Some insurance companies also have mileage thresholds which can impact your premium once you exceed their limit. So the fewer miles you drive in a day, the lower your premiums will be.

Improve Your Credit Rating

Your credit rating is often used to determine your insurance premium. If you can increase your credit score you might be able to get a better rate. The quickest way to do this is to pay down debt and pay your bills on time. This includes your monthly credit card payment and utility bills.

Shop Around

Not all insurance policies are created equal. There could be better rates and premiums out there for you, which is why it’s crucial to shop around. An insurance broker can do all of the leg work for you. As experts in the industry, they know what each insurance provider offers and can help you find the best car insurance rates for your specific needs.

Ready to save big on car insurance? Contact our team at Rowat Insurance and we’ll make sure you get the lowest rates possible.


Insuring Ontario and Quebec since 1955. Trust Rowat Insurance Brokers to look after your home, auto, business and life insurance needs. We always guarantee fast, friendly service and highly competitive premiums. As brokers, we are entirely independent from Insurers and Financial Institutions; we will work with you to analyze and advise on risk, and customize the coverage that is right for you.