Where Can I Buy Cheaper Insurance?

Do you want to save money on insurance?
Right now everyone is concerned with price. Saving money where you can, makes good sense.

What do I do next?
You need to shop around. Understanding the marketplace will help. You can contact a Broker and this Broker will represent a number of companies. The Broker will not have access to the companies that use a Direct Writer. You will need to contact these companies separately. You can shop on-line, but need to be careful for some of the online companies are not able to provide insurance in all the provinces and territories.

Do your homework. It is important that you compare coverage when shopping for the lowest price. One quote may differ from another due to the limit used for the liability coverage (PLPD), or the deductibles may be higher. You need to know what you are shopping for, including an add-on such as loss of use, waiver of depreciation, accident waiver, increased sound equipment or rental vehicle.

Is there any other cost-saving answers?
How are you paying for your insurance? A six-month policy can often be more expensive then an annual term. Are you financing your insurance? The service charges are part of the cost of your insurance, so you might consider paying on a 50/50 basis or even one payment each year.

Credit scoring can be affecting your rate. What is your credit score? The difference between a bad credit score and an excellent score can be as much as 25% paid out of your pocket!

Can this save me money on my business insurance?
If you have a commercial policy, then a clear understanding of the use of the vehicles is very important. You may qualify for a "fleet" policy. Talk to your Agent or Broker.

It is important to understand that when you are insuring your building or contents of your business that not all policies are created alike. The least expensive may not adequately cover your needs. That being said, there may be a policy available to you that will give you more for less price.

The insurance answer
If you wish to deal direct with the insurance company then you need to research what is available and do comparisons. If you use a broker or agent with access to more then one company and have a strong relationship then you are working with your insurance partner and careful reviews should help keep you up-to-date. If you do not have a risk manager to assist you then be careful of exclusions and limitations.