Saving Money On Car Insurance

For most people it is something that gets automatically taken out of their account every month, and along with the mortgage and utility payments, it often doesn’t even get looked at or thought about for more than a couple of seconds. Yet this mystery product is also something that protects what is the second most substantial asset that most people will ever own. So what am I referring to? Car insurance of course.

Legal Reasons

In Canada and the USA our respective governments have actually made it illegal to drive your car without insurance and for good reason. Car insurance is integral to making sure that not only you are protected (which is obviously in your best interests), but also for making sure that everyone else is protected. If you make a mistake behind the wheel (and hey it happens to the best of us) and tragically cause some damage not only to the vehicle, but also to the driver, you could be on the hook for millions of dollars in future hospital bills and lost income due to injuries you caused if it weren’t for insurance. Plainly the current system that exists is a good one, and it achieves its goal of spreading out the collective risk to all insurance policy holders instead of merely allowing each individual to roll their respective dice and pray they don’t go bankrupt over a little bad luck.

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Just because you need great car insurance however, doesn’t mean you should pay more than you have to for it. If you can save even a few bucks every month, it will add up over time, and really, once you make the initial switch, you just get to sit back and watch the savings add up within your account. Cutting down on monthly expenses is sort of a fetish amongst personal finance bloggers for a good reason – it simply works.

Finding Great Deals

Much like sites such Travelocity, or are used to search for the best deals in travel and accommodations abroad respectively, there is a site out there that allows you to find the best insurance option for you quickly and efficiently, with minimal hassle. Insurance Hunter is based out of Ontario, and many of you GTA folks know how costly insurance can be, especially if you’re paying for coverage that doesn’t fit your needs, or is just plainly out of synch with the market. If you’re looking for auto insurance for any of your vehicles, then guys like La Capitale can help. They will take into account your vehicle specifics, as well as your personal information, and then quickly analyze your variables to determine which company and plan would be most beneficial to you. The key thing to realize is that the site is setup in order to benefit you, and NOT the insurance agencies; therefore, you get and automatic mathematically guaranteed suggestions and not some bias commission-based piece of advice from a dude in fancy suit. Those who used insurance hunter to take control of their own insurance needs saved an average of $200 according to users.

You shouldn’t take changes with something as important as car insurance, but at the same time you shouldn’t pay more than you have to every month for something that is pretty straight forward. Don’t let salesman control your insurance decisions, instead use your own judgement and make your own choices in a quick and convenient manner.


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A few years ago, I started annually comparing auto insurance rates just to make sure I was getting the best deal possible. I now pay $400 every six months on two fairly new cars with a major name provider – I know I could save a little by going somewhere without the agent, but to me, having that agent is worth the extra money.

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