Savvy Ways to Save on Business Car Insurance

Auto insurance is an expense that nobody particularly enjoys having to pay for but that is still required by law for all licensed drivers in Canada to possess. The good news is that for those who are looking to cut down on their monthly commercial auto insurance expenses, there are a number of ways to go about doing this.

commercial auto insurance
photo credit: David Defoe

A good starting point is to compare auto insurance rates offered by different companies; this way you’ll know if you are getting the best rate from your current broker.

La Capitale provides a handy car insurance calculator that will help you fast track this process. Simply answer a few simple questions about your vehicle and the number of drivers to be insured and you’ll have a quote in seconds.

Of course, shopping around for rates is not the only way to cut down on the cost of car insurance. Here are some other helpful tips to keep in mind.

Take Advantage of Discounts

Insurance companies offer a multitude of discounts to stay competitive. For example, if you insure two cars with La Capitale you get a 10% discount on each. Make sure you are taking full advantage of all the discounts you are eligible for as it can make all the difference.

Most companies offer discounts for drivers who have not been in an accident or had a major traffic violation in the past several years, while some offer discounts to students with good grades or those who bundle policies with other types of insurance. Some companies may even offer discounts that your current one does not, so it may be worth it to do some research into what offers you could be eligible for.

Drive Less

Did you know that the more you drive, the more you are charged for insurance? This is why insurance companies ask policy holders to enter the number on the vehicle’s odometer upon buying auto insurance from them; this number is used to determine the estimated kilometers that are put on the car each year. Since you are more likely to get into a car accident or otherwise need to file a claim if you are on the road more often, you are charged a higher rate. Consider cutting down on your commute by carpooling with another person or using public transportation more often.

Equip Your Vehicle

Having an anti-theft device of any kind on your vehicle is a great way to cut down on insurance rates. Insurance companies will give substantial discounts to those who have some kind of GPS tracking, alarm, or other type of system that deters thieves. If you do not already have one installed in your car, it may very well be worth it to do so. Not only will your vehicle be more secure, but the cost will pay itself off over time in insurance savings.

There are a number of steps you can take to cut down on the cost of car insurance, so be sure to give some or all of these a try for yourself.

About the Author: This article is written by Ella Dunzelman