How can I lower my auto insurance in Ontario?

Several options exist in Ontario: a winter tire discount insurers are required to offer, bundling home and auto with one insurer, usage-based programs, a higher deductible, and paying annually rather than monthly. Each carries a trade-off. Sutherland Insurance compares the Ontario markets from Guelph.

Part of the Sutherland Insurance guide to auto insurance in Ontario.

The short answer

The options are real and can be listed. Which of them suits a particular household is a decision for the household, because each one trades something (cover, flexibility or risk) for a lower premium.

What options exist in Ontario?

Insurers in Ontario are required to offer a discount for winter tires. Bundling home and auto with one insurer usually attracts a multi-line discount. Usage-based programs price on measured driving. A higher deductible lowers the premium, and paying annually avoids monthly financing charges.

Each has a cost on the other side. A higher deductible means more of a claim is paid by the policyholder. A usage-based program means driving is measured. Bundling ties two policies to one insurer's pricing.

Accuracy matters as much as discounts. A policy rated on the wrong annual distance, the wrong drivers or an outdated address is not priced on the facts.

What does this mean at renewal in Ontario?

The renewal is when the policy can be re-examined against the current facts and against what other insurers would charge. Sutherland Insurance reviews every client's renewal before they decide.

Nothing on this page recommends a particular option. Each one is set out so the trade-off is visible, and the choice rests with the policyholder.

A broker can price the same coverage across several Ontario insurers, which is a different exercise from removing coverage to lower a premium.

These are the options. The right mix depends on the situation

The coverages above are the options generally available on an Ontario auto insurance policy. Which of them belongs on any particular policy depends on the property, the people insured, the limits selected and the individual insurer's wording. The policy document itself always governs. A licensed Sutherland Insurance broker can walk through the options and build a plan around your circumstances. Call 519-822-0160 or request a quote.

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