How Can Drivers Save More On Their Insurance Costs?

How can drivers save more on their insurance costs?

Auto insurance is a necessity; when vehicles have such a high potential for physical damage and injury, it only makes sense that drivers will want some financial protection when an emergency occurs.

But auto insurance does not come cheap. Fortunately, Insurance Business’ Mark Rosanes has produced a new guide on how drivers can save more on their insurance costs. The guide talks about how the insurance works, what goes into the calculation for pricing, and even which provinces and/or territories have the most affordable annual premiums.


One part of the guide discusses optional coverages that drivers can purchase to add to their auto insurance. Though these coverages are “optional,” they can save motorists from additional costs incurred should they be involved in a collision or accident – ultimately saving drivers even more money in the long run.

Motorists should also take note that a basic auto insurance plan will usually cover injuries or property damage they incur in the event of an accident or cover uninsured motorists involved in the collision – but most basic policies will not cover damage to the policyholder’s own vehicle by default. Such coverages are “optional,” but should be considered by all drivers.

Auto insurance optional coverage products include:

  • Collision coverage: This covers repair costs incurred if the policyholder’s vehicle collides with another vehicle or object, even if they are at fault or someone else was driving the car. It also pays for a replacement if the vehicle is wrecked beyond repair.
  • Comprehensive coverage: This covers repair costs from damages caused by vandalism, theft, fire, natural disasters, and other hazards.
  • Specific-perils coverage: This protects against losses from specific perils identified in the policy.
  • All-perils coverage: Compulsory in Manitoba and Saskatchewan, this covers everything under collision and comprehensive policies and all other incidents beyond the policyholder’s control.


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