The market for car insurance quotes online, extensive shopping is not the only answer. You need to look at the terms and details of the coverage and important savings might be hidden right there !!
in Canada and United States is, no doubt, very competitive. Shopping around is very good idea. Looking for a
One of the common mistakes made when contracting in is to over protect. Insurance is a tool to cover you against major losses. Do you need to cover a loss of $300 ? or of $4,000 ? If you want to cover every dollar of a potential loss and your claim history is good you are probably paying for nothing. So, review carefully your deductibles : do you have $200 ? $300 ?. Ask your agent how much is the premium at $500 and you will be surprised how much you are saving.
Being protected for the cost of a new vehicle in the first year
Buyers of new vehicles are often attracted by a coverage for replacement value. Being protected for the cost of a new vehicle in the first year following the purchase is a good idea because it is the period where it depreciates the most. But passed the second year the advantage of such a coverage diminishes greatly. The cost for replacement value often represents 10 % to 15 % of the total insurance premium and may not be worth it. This might be a huge cost saving !
Why Some Cars Cost More ?
You may want a sports car, but your insurance company may want more to protect you in it. Insurance premiums are based partly on the price of the vehicle, which affects the replacement cost if it is stolen or “totaled” in an accident. How expensive the vehicle is to repair–including parts and labor–can also affect the cost. In addition, surcharges may apply to vehicles that are frequently stolen or involved in accidents.