Where you live in Canada affects your auto insurance premium. As insurance comprise our monthly bills, we are always on the move of finding cheapest auto insurance. With the current economic situation in Alberta – every dollar counts. Which is why Albertans are almost always shopping around for the cheapest auto insurance as possible.
However, even with Alberta’s recession today, the the auto insurance premiums are still at the average spot, unlike the bigger provinces, British Columbia and Ontario which are the highest in the country in terms of auto insurance premiums.
So if you are going to ask, “Does Alberta have the cheapest auto insurance in Canada?”, the answer would be no. Alberta’s insurance premium is just average. However, you can still lower your car insurance payments where ever you are in Canada. Here are some examples:
- Your Postal Code Matters
The specific location where you live affects your auto insurance premium. Which quadrant you are in the city will have a impact – some is significant, other times, very minimal. So be sure to research well before you buy your new home. It may be wise to buy a home and save on insurance too!
2. Choose the Right Coverage
You may be overpaying your insurance! Yes it is definitely possible. The coverage your broker discussed with you 10 years ago may not apply to your current situation. You may not need that Rental Car or Loss of Use Coverage because you already have a second car as a spare. Or you may be able to afford higher deductibles now because you have more money in the “Emergency Fund.” Check off the bells and whistles of your coverage and you may be saving around $100 just by taking those out.
3. Always Shop Around
We are lucky that our generations are smart shoppers. We now research about the product before we buy it. We have the capability of staying at home and buying things online without having to drive somewhere. This is true now even with insurance. Gone are the days where you need to drive to your insurance broker’s office. Or call them only to be put on hold for a ridiculous number of minutes. Now, there are a lot of free online websites that provides auto insurance quotes, comparing over 20 companies in just one go. Remember this when your renewal comes up. Always check the market to find out if you are still getting the best deal.