A closer look into cheap car insurance

Are you tired of paying too much for your auto insurance? We get it. Nobody likes overpaying but car insurance coverage may not be something you want to skimp on. There is definitely something enticing about getting a good deal or shopping around for the lowest insurance rates – but buyers beware. Especially when it comes to cheap auto insurance.

Cheapest is not necessarily the best. Paying less for your insurance may cost you more in the long run. It’s important to consider the value of what you are getting instead of just hunting down cheap insurance companies.

What should you look for when comparing car insurance?

Here are some important things to consider when you are comparing auto insurance rates:

  • Make a fair comparison. That means ensure the coverages and deductibles are similar when you are comparing. It’s also important to make sure the vehicle, drivers, address, annual kilometres etc., are all the same for an equal and fair comparison.
  • Ensure the quote is accurate. Some companies offer a quick quote that doesn't necessarily reflect the price you'd actually pay if you proceed to purchase.
  • Customer service. It's important that your insurance company is there when you need them. This includes everything from hours of operation to providing multiple ways for you to manage your policy, ask questions and submit a claim.
  • Payment options. Are there options to make payments monthly or annually? Can you pay by credit card? Are there any hidden fees? Do you have to make a down payment up front?
  • Additional perks. Are there any other extras offered (such as added benefits for good drivers)?

All these factors come together to help you decide if you’re getting good value for the insurance you purchase. For example:

Let’s look at TD Insurance. When you purchase with us, you’re getting more than just auto insurance coverage. You’re getting coverage that fits your needs, 24/7 claims support, the ability to manage your policy online, access to licensed insurance Advisors over the phone or through secure chat and flexible payment options. Plus, you get access to additional benefits like our Decreasing DeductibleTM and TD Insurance Auto Centres. Our Auto Centres provide a one-stop experience for claims advice, vehicle repairs and rentals. These are all important offerings to consider while shopping around for the right insurance.

There can be a big difference between cheap auto insurance and insurance that is good value. Make sure you recognize the difference. The best thing to do is look around and really understand what the best insurance options are for you. Taking into consideration all the contributing factors, not just if it’s cheap car insurance. Get a car insurance quote today to get started.

Did you know there are also different ways to get a discount on your car insurance? Find out other ways to save on car insurance.