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Many people shop around for car insurance when they see their rates go up. While a rise in rates is one good reason, there are in fact many times when you should compare competing quotes from car insurance providers.
To ensure that you’re always getting the best car insurance rate possible, compare car insurance quotes when you:
Buy a different car
Part of your car insurance premium is determined by the type of car you drive, so don’t forget to factor in the cost of insurance when choosing a new vehicle. You’ll likely pay less for car insurance if the car you buy is less likely to be stolen than other cars, and if it costs less to repair after an accident as compared to other makes and models.
Move
When you move, your premiums will likely change because insurance rates vary by location. For the lucky, it might mean paying less, for others, it might mean paying more. Whichever it is, don’t assume that your current insurer will continue to offer you the best car insurance rate you can get for your new address.
Get a ticket or have an accident
Part of your car insurance premium is determined by your driving history and with a less-than-perfect driving record you may find that your rates change. If you get a ticket (or two), or are involved in an accident, it doesn't hurt to shop around to see how other insurers rate your driving history. You’ll likely be surprised in the range of rates available.
Improve your driving history
Fortunately, tickets and accidents will not haunt you for life. As your driving history improves, and accidents and tickets are no longer factored into your insurance premium, companies will offer you better car insurance rates. A company that did not offer you a good rate with accidents or tickets on your record, could be the one that offers you the best rate available now.
Get married
Depending on your spouse’s driving history, you may find that the company that provided you the best rate individually may not be the same company that provides the best rate for the two of you. Your car insurance premium is calculated in part by taking into consideration the driving experience of all the drivers listed on the policy.
Have new teenage drivers
You’ll have to let your insurance company know when your teen gets their licence which may, or may not, affect your car insurance rate. Just like when you get married, your car insurance premium is calculated in part by taking into consideration the driving experience of all the drivers listed on the policy, even those with little or no experience.
Get your renewal reminder
While it is often easy to review and accept the renewal notice from your current insurer it’s important to know, before you renew, that insurance rates go up and they go down. The only way to know that you are getting your car insurance at the best possible price is to get quotes from competing companies.
Compare car insurance quotes today
Rates provided by 
| Mortgages Type | Rate |
|---|---|
| 1-yr Closed | 3.54% |
| 3-yr Closed | 4.15% |
| 5-yr Closed | 4.97% |
| GICs Type | Rate |
|---|---|
| 1-yr Annual | 0.95% |
| 3-yr Annual | 2.12% |
| 5-yr Annual | 2.77% |
| RRSP Type | Rate |
|---|---|
| 1-yr | 0.94% |
| 3-yr | 2.09% |
| 5-yr | 2.75% |
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