Can you find the best car insurance?

2 minutes

You’re about to get behind the wheel of the car of your dreams. So why not find the best insurance possible so you can protect it from bumper to bumper? However, what’s good for the goose is not necessarily good for the gander. So a little shopping is in the cards for you if you want to find the right auto insurance.

What factors will help you decide which insurance is best for you? Here's a handy overview to help you out.

Your various coverage options

It’s not always easy to wrap your mind around the subtle differences in the various coverage types available to you :

  • Civil liability
  • Collision and upset protection (Coverage 2 of Section B)
  • All perils other than collision or upset (Section B Protection 3), Q.E.F. No. 27, etc.

To make an informed decision, call a damage insurance agent so he or she can explain all the types of coverages available to insure your car.

These insurance professionals will be able to point you in the right direction based on your situation.

What are your options?

Did you know that you can add coverage to your car insurance, on top of your basic coverage?

Here are some options provided by your insurers:

  • A $0 deductible
  • Replacement cost – Get reimbursed without taking the depreciation of your car into account
  • Coverage that prevents a premium increase due to an auto claim1
  • Roadside Assistance

Discuss these options with your insurer to see whether they could be beneficial for you, and how much they would cost.

Deductible

To strike the right balance between coverage and price, the deductible becomes a compromise worth exploring.

This is the amount you would pay in the event of a claim. The higher the deductible, the lower the price of your auto insurance, and vice versa.

If your goal is to pay a lower insurance premium, that’s fine, but just remember that it will likely end up costing you more to have your car repaired in the event of an accident.

Here’s an example

The deductible on Hakim’s auto insurance contract is $500.

Last month, he was involved in a car accident, and the car sustained damage worth $2,000.

The insurer will therefore reimburse him $1,500, i.e. $2,000 in damage minus the $500 deductible.

Bargain hunting

Most insurers offer potential customers significant rebates and benefits. This will help lower the cost of your car insurance.

Would you answer “YES” to one or more of the following questions?

  • Do you bundle your home and car insurance with the same insurer?
  • Are you a member of an association?
  • Are you a full-time student or do you have a university degree?
  • Would you like to join a loyalty program?
  • Is your car equipped with an anti-theft system?
  • Do you drive an electric car, a rechargeable hybrid or hybrid?

When asking for a quote, mention which of these apply to you and check if you’re eligible for a discount. Saving doesn’t have to be complicated!

The right price

Once you’ve decided on the type of coverage, you must ask for an auto insurance quote. You should ideally compare prices from three insurers before settling on the one that best suits your needs.

Crunching the numbers

Insurers set their auto insurance rates based on certain criteria :

  • The car model and risk of theft
  • How the vehicle is used
  • Where you live
  • Claims or accidents during the last several years, etc.

If you still have questions regarding the types of coverage, call the insurers. This way, you’ll get more personalized service...and the answers you need.

Car insurance tailored to your needs

The best car insurance is the one that meets all your specific needs. Preferences in coverage type and options vary from one person to the next.

That’s why it’s wise to shop around!

1 The price of the insurance may increase with this coverage, but it prevents an increase caused by a loss.

This article is intended for information purposes only and should not be construed as professional advice.