Are you Saving for a Rainy Day with Savings Opportunities within your own Insurance Policy?
Alberta is currently facing a recession and the impact is being felt from the largest corporation to the smallest business. In light of Alberta’s economic climate at present, it’s become more paramount to save money and create saving opportunities within your own budget.. However, surprisingly, when it comes to their insurance policies, many people simply pay the renewal without looking closely at their coverage, the policy premium, and whether or not it has increased.
As a consumer, becoming proactive about your insurance costs is not only smart, but can be extremely cost effective. Necessities like auto insurance are in many cases difficult to make any significant cost change to, however there are a number of ways to save on your insurance, and shopping around to ensure you’re receiving the best rate is a smart start!
The professionals at Action Insurance specialize in finding you the most comprehensive and most suitable coverage for your home and auto.
Taken from the Alberta Insurance Rate Board, here are some suggestions on how best to lower your premium.
▼Obtain a quote prior to purchasing a vehicle.
▼Before buying a vehicle, find out how much the vehicle is going to cost to insure. Premiums vary based on the claims experience for the make, model and year of vehicle. “How Cars Measure Up” is a helpful reference.
▼Increase your deductible.
The higher your physical damage (collision, comprehensive and specified perils) deductibles, the lower the premium.
▼Insure exposures with one insurance company.
Companies offer multi-vehicle (insuring more than one vehicle) and many offer multi-policy (insuring both automobile and property) discounts.
▼Reduce physical coverage on older vehicles.
On older vehicles, you may want to consider deleting collision coverage. The cost of insuring some older vehicles for collision could be high relative to the value of the vehicle itself.
▼Remove windshield coverage.
Coverage for windshield glass can be expensive to purchase; consider limiting this coverage by purchasing a “Comprehensive Cover Limited Glass” endorsement-SEF 13D.
▼Install anti-theft devices.
Many companies offer a discount for anti-theft devices, and in addition, this will also help to keep claims costs down. “Top 10 Stolen Cars” is a good reference for information on vehicle theft.
▼Consider cost of monthly pay plan options.
Monthly payment plans are convenient, but there is usually a fee added to the premium for this service.
▼Take driver training.
Newly licensed drivers who complete a driver training course qualify for a reduction in premium.
▼Drive carefully.
Traffic convictions and at-fault accidents result in increased premiums.
Comparison shopping.
The automobile insurance market is a competitive one; therefore, each company is unique in the premiums that they offer.
Let Action Insurance Group save you money on your personal lines insurance and take Action on your rates today! Call us at (403)457-1000