How to Choose a Car That’s Right For you

Shopping for a new car (even if it’s only new-to-you) can definitely be a learning experience, and it’s important to make the right decision so you can avoid unnecessary problems down the road. We’ve put together some information from the Insurance Bureau of Canada (IBC) that can help control costs and stress levels.

Informed decisions can lower premiums

Before you choose the make, model and year of your car, it’s necessary to consider how the car that you decide to drive will impact your insurance.

  • The car you drive matters. Before you settle on that sporty two-door, understand that some models are more prone to being stolen than others, which can impact the insurance premium you pay. Additionally, cars that cost less to repair may have more favorable insurance premiums.
  • Safety features help. Certain features on a car not only make driving more convenient, they can also help lower premiums. Look for a car with approved safety features like anti-lock brakes, air bags, a tracking system or car alarm. These features mean the car is less likely to be stolen by thieves or involved in a car accident.
  • In the CLEAR? The Canadian Loss Experience Automobile Rating (CLEAR) system is used to evaluate how likely a certain car will be involved in a claim and the associated costs. This system is based on historical insurance claims data. Your car’s CLEAR rating is one of the factors that can affect your premium. Contact one of our insurance advisors who can help you compare vehicles.

When choosing a car:

  • A little research can go a long way. Review documents like CLEAR to see the likelihood that the make and model you are interested in will be involved in a theft. Every year, the IBC tracks the Top 10 Stolen Vehicles. The list varies by region, so do your research and be informed when you’re browsing the dealership.
  • Prepare to treat your car with care by taking preventative measures. Just choosing a car that is unpopular with thieves doesn’t guarantee it won’t be involved in a theft. There are steps you should take to avoid being an easy target. Simply making a routine of always rolling up your windows, locking the doors, parking in a well-lit and highly visible spot and NEVER leaving valuables in your car that are easily seen by those passing by.

Ways to Save

Keep in mind that TD Insurance has a variety of ways you could save on your car insurance premiums:

Discover ways to save with the TD Insurance Savings Commitment.

Contact us to speak with an advisor today.

Insurance Bureau of Canada. How Car Insurance Premiums are Calculated, from
Insurance Bureau of Canada. Top 10 Stolen Vehicles, from
Insurance Bureau of Canada. What Insurers Want to Know, from
Insurance Bureau of Canada. Canadian Loss Experience Automobile Rating (CLEAR), from