How to save on your auto insurance

If you’re feeling overwhelmed by your increasing auto insurance costs, you’re not alone. Many people want to find some way to reduce them without compromising their coverage.

The best way to save on your auto insurance is to increase your deductible. The deductible is the amount you will have to pay if you ever have an “at fault” claim. For example, if your total claim amount is $2,000 and your deductible is $500, then you will pay the $500 and your insurance company will pay the $1,500 balance.

By increasing the deductible from $500 to $1,000, you can reduce your insurance premium by anywhere from five to 10 per cent. The savings is significant and can help with your monthly or annual insurance costs. However, you’ll have to make sure that you can afford to pay the added deductible amount should you ever have to file a claim.

If these savings are a solution you think you could benefit from, contact your insurance agent and find out exactly how much you can save. And keep reading our other blogs for more helpful vehicle tips and tricks.