Don’t Be Confused About Car Insurance

Tips for car insurance

August 2, 2013

You’ve tuned your engine, packed your trunk and have planned your gas route – you’re all set to hit the open road for this summer’s road trip. But have you compared your car insurance rate recently? If not, you may be less prepared than you think for the highway.

It’s no secret that car insurance can be confusing and expensive – perplexing premiums and common driver misconceptions can take a toll on your patience and your wallet. Fear not – this week’s guide is all about choosing the best car insurance with ease.

How Car Insurance Rates Are Calculated

If a 25-year-old man speeds 20 km over the speed limit in Ontario while carrying a tent in his trunk, what will his car insurance premiums be? Might seem like one of those ridiculous math questions from grade school – but these factors actually add up to what you may pay for your insurance coverage.

Learn more on how your premiums may be calculated – and what you can do to keep your costs down.

Read Allan’s Blog | How Car Insurance Rates Are Calculated

Debunking The Top Car Insurance Myths

Car insurance isn’t always easy to understand – and the grapevine is full of myths and misconceptions that not only pose a threat to your coverage, but could void it altogether!

Gun shy about choosing a red car because it has higher premiums? Not sure if lending your car out makes your responsible in case of an accident? Read on to bust these fibs, and more.

Read Diane’s Blog | Debunking Top Car Insurance Myths

10 Ways to Lower Your Car Insurance Costs

Why pay more for your car insurance if you don’t have to? Fortunately, there are ways to slash what you’ll pay on your monthly premiums.

Maintaining a good driving record, keeping your car in top shape, or even upgrading to a safer model can entitle you to a lower insurance premium. Read on for ways to cut your costs.

Read Melanie’s Blog | 10 Ways To Lower Car Insurance Costs

What’s happening in this week’s finance headlines?

Protect Your Home From Theft While On Vacation

Taking a trip this summer? An overflowing mailbox or empty driveway can signal your home as a break in target. Check out these ways to protect your home from potential thieves while out of town, and ensure your insurance coverage is up to par in a worst case scenario.

Read Andrew’s Blog | Protect Your Home From Theft

China Credit Bubble: A Global Economic Threat

A new economic threat is growing half a world away. China’s economy, the second largest in the world, is forming its own credit bubble, similar in nature to the meltdown that led to the 2008 U.S. financial crisis. What consequences would be felt in Canada, and worldwide, should this bubble burst?

Read Rubina’s Blog | China Credit Bubble

Failure to Launch: Post Grads Putting Off Financial Milestones

Sky high student debt and a slow job market have many post grads putting off home ownership, marriage and starting a family. How can young adults take control of their finances – and start living an adult life? Read on for our post grad tips.

Read Andrew’s Blog | Failure to Launch

Detroit Bankrupt: What Led To The Downfall Of The Motor City?

Last week Detroit stunned both the U.S. and Canada when it declared bankruptcy, the largest American city to do so. What are the economic factors that led to these drastic measures, and could they occur in Canada?

Read Sean’s Blog | The Downfall Of The Motor City

You Answered!

This week, we asked:

What do you find most frustrating about car insurance? 

50.4% say determining how their premiums are calculated isn’t always clear, leading to frustration when it comes time to pay for car insurance coverage.

27% say hunting for the lowest insurance quote takes up precious time and effort.

22% say higher premiums due to their age is their biggest beef with their insurance coverage.

Get in on the winning action! Answer this week’s poll question:

What money advice would you ask of the world’s richest 1%?

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Related Topics

Car Insurance 101 / Insurance

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