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5 Car Insurance Discounts That Could Help You Save Big

Last Updated: Feb 2021 | Categories: Car Insurance, Popular

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There are many factors that go into pricing an insurance policy. Each person’s premium will be different based on their driving experience, their insurance history, their vehicle, and the coverages they’re looking for. While the rate you’re offered will be determined by these factors, the discounts listed below could help you bring that number down and save you some serious dough!

1. Multi-Vehicle Discount

If you insure multiple vehicles with the same company, you could save up to 10% on your insurance premium for each vehicle.

2. Multi-Policy Discount

If your vehicle(s) and either your home, condo, or apartment are insured with the same company, you could save 5 – 15% on your car insurance.

3. Occupation Discount

Some companies offer discounts to people with certain occupations or retirees. These discounts can bring your car insurance premium down by 5 – 10%.

4. Stability Discount

The stability discount is one that many people don’t know about. Some companies will offer you a discount if you’ve lived at the same place for more than three years – the discount percentage varies across companies.

5. Telematics Discount

Telematics is a cool new technology that can save you up to 30% on your car insurance if you have good driving habits. There are only two insurance companies that currently offer this in Atlantic Canada – Intact and Pembridge. If you opt in for the telematics program with either of these companies, they’ll send you a little device to plug into your car that will monitor your driving habits and send data back to them. You will receive a 5 – 10% discount on your insurance premium for one year just for opting into the program, then after 6 – 9 months of data collection, you could save up to a 25% when your policy renews – if you had good driving habits! The data collected via the telematics program will NOT be used against you / to increase your premium, it can only be used to offer discounts.

If you’re shopping for insurance, make sure you ask your broker or the insurance company you’re getting a quote from if they offer these five discounts. It could end up saving you some serious money, especially if you can combine multiple discounts.

 

Looking to Take Advantage of Every Car Insurance Discount Possible?

The Cheep Insurance team is happy to shop your policy for you. We’ll automatically apply every available discount to your car insurance quote, and we can set you up with telematics if you’re eligible and interested in program. Plus, we have the largest selection of insurance companies in Atlantic Canada, so we can find you the best price available for your unique insurance needs!

Get in touch today at (902) 463-1675 or hello@cheepinsurance.ca for your free quote!