Six Ways to Save on Auto Insurance

Are you paying more than you should on your auto insurance? If you’re looking for ways to save, start by reviewing your vehicle insurance policy.

You probably spent time researching before selecting your current car insurance provider. But it’s a good idea to review your coverage each year to make sure you’re not missing out on savings. When you get your renewal papers, check if your rates have gone up.  But here’s the thing: Many people only think about their car insurance when it’s time to renew.

“A lot of people tend to think about their auto or home insurance at renewal time,” says Elliott Silverstein, director of government relations at CAA Insurance. “And then it’s usually a mad dash to review before their policy automatically renews, so they don’t make changes that could be beneficial as their lives change year over year.”

By then, they rush to review their policy without considering changes that could save them money. Auto insurance is one area where you can cut costs, especially if you’re driving less. Here are six simple ways to reduce your car insurance expenses:

1. Review your current policy

With lifestyle changing over time, your insurance needs may have shifted. Schedule a chat with your insurance agent or broker to review your current policy. They can help identify potential savings opportunities tailored to your needs. The best part? CAA offers complimentary policy reviews, regardless of whether you’re currently insured with CAA or another provider. It’s the first step to ensuring your policy is optimized for factors like your vehicle type, mileage, and eligible benefits.

2. Assess your driving habits

Have your driving habits changed? If you are retired or no longer driving to work on a daily basis, you may be able to lower your premium by changing your use from “commuting” to “pleasure”

3. Consider pay-as-you-go auto insurance

CAA MyPace® is a pay-as-you-go auto insurance payment program designed for low mileage drivers. You pay a base rate to protect your car while it’s parked, plus for the first 1,000 km. Then you buy coverage in 1,000 km increments. On average, this program saves policyholders 50% compared to traditional auto insurance.

Always ask questions and understand where you might find savings,” Silverstein says, “because at minimum, you’ll never pay more than a traditional CAA Insurance policy if you take advantage of a pay-as-you-go payment program. It’s a low-risk change that can end up with great returns.”

CAA MyPace® is available in Ontario, Nova Scotia, New Brunswick and P.E.I.

4. Bundle your insurance

Most insurers offer savings when you have multiple policies with them. You may also receive a multi-vehicle discount if you are insuring more than one car.

5. Use your club connections

Belonging to clubs, associations, union, alumni groups or being a CAA Member, can help you save. CAA Auto Insurance offers up to 20%¹ savings for Members. CARP Members also get a special bonus when completing an insurance quote with CAA. Make the most of your affiliations.

6. Look for additional savings

There are many ways to save, and a licensed CAA Insurance Agent can help you find them. You may qualify for special discounts if you’re retired or have snow tires on your car. A history of good driving can also get you a lower rate. Don’t wait for your policy to renew to make changes. You might find that switching to CAA or cancelling your policy and getting a new one costs less. CAA honors quotes for 60 days.

By following any number of these ways, you’ll be able to take control of your costs today. Always remember: you could save on your auto insurance by taking proactive steps to ensure your policy aligns with your evolving needs.

Get a complimentary quote from CAA to find out ways you could be saving. Call 1-833-673-3030 or visit carp.ca/CAA-auto to learn more.

CAA is CARP’s Recommended provider for Auto, Home, Travel, Life and Pet Insurance. To learn more about our offerings and special perks available for CARP Members, visit carp.ca/CAA or call 1-833-673-3030.

_{¹To qualify for the discount you must be a current CAA Member in good standing (CAA Membership dues paid in full by membership expiry date).}

_{Auto and Property Insurance are underwritten by CAA Insurance Company (except in Alberta, British Columbia and Quebec). BCAA Optional Car Insurance and Autoplan are sold through B.C.A.A. Holdings Ltd. dba BCAA Insurance Agency, a licensed insurance agency. BCAA Optional Car Insurance is underwritten by CAA Insurance Company and Autoplan is underwritten by the Insurance Corporation of British Columbia. Not all products are available in all provinces. Property Insurance is sold through B.C.A.A. Holdings Ltd. dba BCAA Insurance Agency, a licensed insurance agency, and underwritten by BCAA Insurance Corporation. In Alberta, insurance is sold by AMA Insurance. Auto and property insurance sold by AMA Insurance are largely underwritten by Alberta Motor Association Insurance Company (some exceptions apply). Subject to certain conditions and approvals. Underwriting eligibility rules apply. Vehicle compatibility and enrollment in CAA MyPace payment program is subject to terms and conditions.}

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