6 Ways to Decrease your High Risk Driving Insurance Premium
As a driver, you have many options to help save you money on your insurance premium. Whether you are a high risk driver or a standard risk driver, the options that affect the premium are very similar. Since high risk driving insurance premiums are higher, each option to save on the premium has a much greater impact on the bottom line you pay.
The hard part is selecting which saving options make the most sense for you and your situation. At Bryson Insurance, we understand that every driver is different. Personal budget, driving habits, and demographics are all individual to you. We welcome a conversation with you to discover what your needs are and discuss with you options that make the most sense for your needs.
Here are some ways to save money on your high risk driving insurance premium. *None of these ideas are recommendations. It is important to have a conversation with a Bryson High Risk Insurance Specialist. Call us at 1-800-661-5196 today.*
Here is the summary:
- Pay Your Premium Up Front
- Drive an Insurance Friendly Vehicle
- Install a Theft Alarm
- Increase Your Deductible
- Take Advantage of the Winter Tire Discount
- Change Your Driving Habits
Pay Your Premium Up Front
Did you know that you could save 3% on your total premium by paying the annual amount at once? When your insurance is suddenly doubled or tripled due to being a high risk driver, all of a sudden that 3% savings begins to mean a lot more for you.
Drive an Insurance Friendly Vehicle
It is common belief that the more expensive a car, the more expensive the insurance. While it may be true in some cases, that is definitely not the rule. Insurance companies care most about you and your safety.
The question that really matters is “What is the chance that I will be seriously injured if my vehicle is in an accident?” All vehicles have driver safety ratings. As well, the Insurance Bureau of Canada provides a list of the most insurance friendly vehicles most insurance friendly vechiles. If you’re looking for a new or used vehicle, call your Bryson Insurance Broker at 1-800-661-5196 to discuss which vehicles are most cost effective from an insurance perspective.
Install a Theft Alarm
An often overlooked insurance premium saving option is protecting your vehicle from theft. A theft alarm is a beneficial consideration for a few reasons:
- You will decrease the chance of your vehicle being stolen or vandalized,
- You will lower your high risk insurance premium on average of 10%,
- You will build credibility with your insurance company.
The act of taking safety precautions shows that you have a strong desire to establish a clean driving record again. For details on the type of theft alarms that qualify for discounts please reach out to your Bryson Insurance Broker today. You can click here to e-mail us, or call us at 1-800-661-5196.
Increase Your Deductible
Simple, from an insurer’s perspective the higher your deductible the less chance you will make a claim.
Does it make sense to have the higher deductible? It depends – we know you are doing everything in your power to regain a clean driving record but you can’t control everything on the road around you. The premium saving for a higher deductible may simply not be worth the risk.
For this choice, it makes sense to get a quote as to what the premium difference is at various deductible prices. This way you will have the information required to make an informed decision.
Take Advantage of the Winter Tire Discount
Are you willing to commit to having winter tires on your car from November to April? If so, you have just made another step towards being a safer driver while at the same time saving more money on your premium. The rate of discount varies, it is best to call us at 1-800-661-5196 to find out the details suited for you.
Change Your Driving Habits
The less you drive the less chance there is of making an insurance claim. Insurance companies know this and reward drivers who adjust their driving habits. As a high risk driver, you will save more money than a standard rated client for changing driving habits. There are a few methods to saving money on your driving insurance premium through changes in driving habits.
Drive less frequently
The fewer kilometers you expect to drive, the lower your premium.
Stop using your vehicle to commute to work
Driving during rush hour is considered one of the riskiest times to have an accident. This is why insurance rates go up if you drive to work. Look at options to carpool or take public transit. This will save you money on insurance and on other costs associated with driving a vehicle to work. To see who is commuting where you are visit the Ontario Ministry of Transportation’srecommended carpool connecting website Smart Commute.
You may have some questions. At this point, it does make sense to have a conversation with someone who can answer what questions you have. At Bryson Insurance, our team of trained professionals are also people like you – there are no bad questions. We want to do whatever we can to help save you money today and get you back to a clean driving record tomorrow.
Feel free to start a conversation in the pop-up chat window, e-mail us here, or call us at 1-800-661-5196.
If you would like to learn more about the Bryson Difference, click here .
If you would like to continue learning more first, please take time to read other important information for high risk drivers including: