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Originally posted by Oimnadniia

Hi ,

This is to all members who are driving in Canada. I am planning to buy a 2nd hand car and now looking for some good deal on insurance.

Please suggest.


Thanks.

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WHY IS IT COSTLY:

1. Cars rated on the lower end of the scale (nearer 1)* have a lower premium and cars that attract a higher rating have higher payments. The more powerful the car engine, the higher the rating of the car.
2. Newer models earn a higher rating as their value is more. Older cars have a greater chance of needing breakdown recovery services which can raise the rate of the premium.
3. The area in which the car will be kept is another consideration for insurance companies. Areas that have a higher crime rate have higher premiums due to the increased risk of the car being stolen or vandalized. This is where you live, so, that also counts.
4. If you are a female driver, you may be able to get a discount with some companies. Women have been statistically proven to make low cost claims, so they enjoy the benefit of lower premiums to reflect this.
5. Younger drivers suffer due to their lack of experience. The payment scale is very harsh on those who have had little time behind the wheel. One way to balance this biased scale a little is to ensure that, as a younger driver, you have a less powerful car that costs less in insurance. If you are one of a number of people on the same policy (such as a household policy on the same car), consider only allowing those above a certain age to be included in your policy. This will reduce the costs you incur annually. If your Parents are here and they drive, then get in on their policy.
6. +If you are a young driver who has a second-hand car, consider only getting third-party coverage. It might be worth the risk for the amount you will end up saving. Trying to reduce the annual mileage is another way to reduce your premium. The more a car is driven, the higher the risk of it being damaged, and as a result the premium is higher. So, cut down on your usage. Also quote a low usage when you ask for a quote, say 6000 klicks
7. If you are insuring more than one car, try insuring with the same company. This can earn you some discount. If it is a pool of company cars being ensured, take out a fleet policy to get a better rate.
8. Try to avoid claiming money from the insurance company for low cost repair work. Making a claim may deny you, your ‘no claims’ bonuses for the following year (unless you have it protected) which will lead to a rise in your premium rate.) Some will forgive one accident, some will eliminate the deductibles to nil, in small decrease each year, if you have no claims. See the advantages of going with one or the next
9. If deductible gets more, then, paying LESS premia is worth the risk, if you are confident that it will be unlikely that you make a claim, and vice versa. This is a major cost-reducing factor in calculating premiums.
10. Some cars are in demand for used parts. They get stolen for parts. These piranhas strip them in a few hours and sell them as spares or send them across the borders. So, if your car is expensive, fit an anti-theft alarm or tracker device to it. Approved alarms and immobilizers can significantly reduce premiums. Garaging your car is another way to reduce your premium.
11) Also, use the Public Transport if you are living close by and on their routes, which will save you in parking and also with no time delays.

There are so many factors involved in calculating a premium that it is hard to give a rough estimate of how much car insurance could cost you. But going through a Driving School and getting educated through them, is necessary for each individual, so, use them when you start learning and ask for quotes from from at least 2-3 insurance companies before you can get an idea of what sort of premium you can expect. When you see their quotes, you will know that OWNING the car is just a prestige issue.

* Most reliable cars: A high price doesn't mean it's reliable, at the same time Ford still leads the domestics. Asian brands still dominate. Good news from Europe is that they are making Cheap and reliable cars there too. Always read and prepare yourself. 1) ConsumerReports.org They will provide you with a dozen tips at least. LemonAid : http://www.lemonaidcars.com/updates.html

Remember, there are only two or three re-insurers, so your name gets in on their list and the quotes will always reflect the actual costs PLUS the broker's TAKE. It is a no win situation.

Plus $250 for car and $250 for insurance plus $200 for gas and a few dollars ($100 on an average for a month ) for maintenance, etc.,, Mmmmm... that sure takes a bite out of the wages, and all of this after taxes... That is a whopping big sum. So, in the initial stages of settling in Canada, be prudent.

Freddie.