Saving Money on Gas
With the prices of gas seemingly only going up, saving money on it may seem near impossible. However, there are some things you can do to keep a bit more money in your pocket. We'll go through some tips that can help you save money not only on gas, but also on insurance.
How can I save money on gas?
1. Keep an eye on the gas pumps
It may seem like an obvious answer but not everyone does it. You can download gas price apps or simply just search your local news site for gas updates. It also helps to avoid running your car's tank near empty. By doing so, you'll likely end up filling your tank up at the nearest gas station, regardless of price. Consider keeping an eye out for pump prices when you're around half a tank. That way, there's no urgency to fill up your tank and it buys you some time to search for the best gas price.
2. Give your car its regular tune-ups
Every car has different maintenance needs but it's important that you keep up to date on what's required for your specific vehicle. According to the government of Alberta, a poorly tuned engine can increase fuel consumption by up to 50%. And under-inflated tires can increase fuel consumption by 5%, not to mention the increased wear and tear on your tires. 1 By keeping your car maintained with regular check ups for tire pressure, engine tune-ups, and motor oil changes when necessary, you'll help save the gas in your tank.
3. Improve your driving habits
There are little habits you may have picked up throughout your time driving that may be impacting your tank. For example, do you find yourself idling your vehicle on a regular basis? Well, for every 10 minutes of idle time, the average three litre engine wastes over one cup of gas. 2 Another habit that may be impacting your tank is speeding. Just going 20 km over a 100 km/h speed limit can waste 20% more gas. 3 The key to burning less fuel is gentle acceleration and keeping your speed at a steady rate.
4. Consider a fuel-efficient vehicle
Cars are expensive, so switching to a fuel-efficient vehicle may not be in the books for everyone. But if you're on the market for a new car, a fuel-efficient vehicle may be a good idea. With an increased number of hybrid/electric vehicles being made by almost all car companies, there are tons of options for you to choose from. And not only will it help save money on gas, but it'll also help reduce greenhouse gas emissions, leading to a cleaner environment.
What other ways can I save?
Following the tips provided above could help you save each month on gas, but you may also be eligible for further savings on your car insurance. Here are some additional tips:
- Bundle your home and car, or bundle multiple cars to benefit from our multi-line or multi-vehicle discount.
- For those with an eligible electric/hybrid vehicle, you can benefit from our Green Wheel discount for your eco-friendly vehicle choice.
- You can enroll in TD MyAdvantage* — a usage-based insurance savings program that can save you up to 25% on your premium.
- Driving less? Contact your insurer to provide an update on your vehicle usage which could result in a lower premium.
* Available only for Ontario and Quebec-based drivers.
We know saving money is important to you. But it's also important to ensure you have the right coverage for your needs so you're not paying more in the long run. If you're an existing TD Insurance customer, you can review and manage your policy any time with MyInsurance. Or, if you're curious to see how much you can save by switching to TD Insurance, simply get a quote in minutes.