Factors that can impact your insurance premium
- The vehicle you drive
- What you use it for
- Where you live
- Your driver profile
- The coverage and deductibles you choose
- How many accidents you’ve had and the claims you’ve made, whether you were responsible for the damage or not
- Your credit report
- Your SAAQ driving record (demerit points, driving experience, etc.)
How to lower your premium
- Bundle your insurance policies with the same insurer. Most insurers offer a discount if you insure both your car and your home with them. It’s the same principle if you have more than one vehicle to insure.
- Choose coverage that fits your needs. Your annual mileage, how you use the vehicle, and whether or not you want replacement value coverage are all factors that influence the premium you pay.
- Drive carefully and follow the Highway Code. Your driving record can influence your premium.
- If you’re planning to buy a new vehicle, do your homework on the models you’re interested in. Some vehicles are at a greater risk of theft than others, which can translate to a higher premium.
- Increase the amount of your deductible. If you increase your deductible, make sure you can afford to pay the higher amount in the event of a claim and calculate whether the money you’ll save is really worth it.