1. Shop around.
Ask people around you which insurance company or broker they recommend and come up with a list of at least three different locations that you would like to get quotes from. Sometimes it’s even possible to get a quote online, but if you reside in NB, chances are you might be better off driving there to get a quote in person. Keep track of all the questions and required paperwork from your first meeting, it will speed up the process when you meet with the other companies.
2. Bundle up.
Just like your cable/phone/internet company, search for an insurance that offers the best bundle for all your insurance needs, like your home, mortgage, second car and even life insurance. Some company may be able to offer you a better bundle even if your car insurance is higher.
3. Drive better.
We know that accidents can be someone else’s fault, but what if you could reduce your chances of causing an accident by driving better. Things like following the speed limits, respecting traffic lights and paying more attention to the road can help a lot. Speeding tickets and insurance claims (when you are at fault) could increase your premiums over time.
You may ask your insurance company if they offer a tracking device that records your driving behaviour to help you save on insurance premiums.
4. Find better wheels.
Before you buy your next car, you should inquire how it’s going to influence your premiums. Some cars have higher insurance premiums because they are more likely to be stolen, or are considered to be at a higher risk of being in an accident.
5. Higher deductible.
Basically the higher your deductible is, the lower your insurance premiums will be. It’s best if you can afford to have a higher out-of-pocket cost if something happens to your car, so choose a $1,000 deductible instead of a $500 deductible and that should lower your premiums.