Auto Insurance Tips Honolulu HI

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Auto Insurance Tips:

(NC)—If you are under 25 years of age and want the lowest auto insurance rates, start by building a good driving record, free of at-fault accidents and driving convictions. This includes having good driving habits and obeying the rules of the road, such as wearing a seat belt and not using a cell phone or handheld device while driving. Insurance companies also favour the completion of a recognized driver training course, and the experience acquired by being an occasional driver on the policy of a parent or guardian.

You can also save money by following these tips from the Financial Services Commission of Ontario (FSCO), the regulator of the auto insurance industry in Ontario:

•Ask about student discounts.

•Compare rates, either online or by making phone calls and getting recommendations. The rate you pay could vary significantly from company to company.

•Don't pay for coverage you don't need. For example, if your vehicle is worth less than $1000, collision coverage may not be cost effective if your deductible is $1000 or higher.

•Consider a higher deductible. This means you'll contribute more towards the loss if you have an auto accident, but it will give you a lower rate.

•Make payments on time. If you're late the consequences can include the cancellation of your policy, which can impact your ability to get insurance in the future.

•Make a wise choice on the vehicle you drive. For example, if you buy a vehicle with a high theft rate, your insurance rates will be higher. Consider choosing a vehicle with good security features.

More information on auto insurance is available online at www.fsco.gov.on.ca where you can download the brochure Understanding Automobile Insurance.

- News Canada