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I Want to Spend More on Auto Insurance, Said No One Ever

Jan. 13, 2022
4 mins
A woman sits on the hood of her blue electric car drinking an iced beverage from a straw

The road to lower car insurance rates for many drivers starts when it's time to renew. There are many times outside of this narrow lane, however, when you can cruise into some sweet savings. It's true! All you have to do is see how your current premium stacks up at these 10 key times that may not coincide with your policy's renewal.

Will you brake for lower auto insurance rates when the time is right?

Mid-season premium savings could await you if you're into lowering your auto insurance cost. Why? Well, there's oodles of factors that go into determining your insurance premium and when just one of these changes, your premium could change, too.

The secret lies in knowing that anytime your rate changes with your current provider it’s likely to change with other companies, too. And because every insurance provider calculates their rates differently, you may find that you can get a better deal on your coverage by switching. You just have to seize the savings.

Key times to seek out the lowest rates for auto insurance

1. Ditching the probationary licence

With a full blown, non-probationary driver's licence in hand, the open road awaits. So too does your opportunity to lower your premium. You've done your part and passed all the driving tests and now it's time to put your insurance provider's rates to the test, too.

2. The birthday benefit of turning 25

Many young drivers don't realize that once they hit the ripe old age of 25, they should see their auto insurance rate go down. It's a birthday present for good drivers that's just waiting to be opened.

3. Saying "I do"

Is it time to break up with your provider when you say "I do" to your spouse? Your spouse's driving record now affects your rate. The company who offered you the best rate when you were single may no longer offer you the best rate as a couple.

4. Saying "I don't"

Breaking up is hard to do but if your ex had a less than stellar driving record, a fresh start with a new insurance company that provides the best rate for you, and only you, may be a split that helps you save.

5. Moving on up

Your driving record, insurance history, vehicle and commute all play a role in the premium you pay. But when the only thing different is your address, why do rates vary? It generally boils down to the likelihood of a claim. Insurance companies study statistical data on claims frequency (and severity) and if an area has a higher instance of insurance claims, this added risk will be reflected in your premium. As a result, when you change homes it may be time to change providers, too.

6. Buying a new ride

Repair costs, auto theft rates, and safety features all factor into how much it costs to insure your vehicle. But insurance companies are kind of like thumbprints; no two are alike and none calculate their rates in the exact same way. So, if you're driving around town in a new ride, it may be time to drive down your premium with a new provider.

7. Reliving your teen years with your own teenager

Teenage drivers usually pay higher insurance rates than experienced, older drivers, but some companies are more teen-friendly than others. If you have a new driver in your household, it's worth checking to see if another provider will give you a better rate when your teen comes home with their shiny new licence in hand.

8. Paying your (ticket) dues

Traffic tickets are a real pain in your wallet but are generally removed from your driving record after three years. Once you're in the clear there may be relief as insurance providers will be willing to offer you the best rates with a clean driving record.

9. Accidentally speaking

Like traffic tickets, at-fault collisions are a real headache — for years. Collisions stay on your record for at least six years. On your six-year anniversary of collision-free driving, however, lower rates should be unlocked.

10. Ditching the commute

The daily commute to work is an everyday reality and when the distance of your commute changes, whether it's because you've retired, switched jobs, or simply changed how you get into the office (e.g., public transit) your insurance could change as well. By spending less time behind the wheel, you may find you could spend less on your coverage with a different insurance provider.

Don't wait for your premium to decrease

Why wait for a lower premium to make its way to you? At RATESDOTCA you can compare car insurance rates from more than 50 providers, so you can be confident you're getting the best deal.

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Don't waste time calling around for auto insurance

Use RATESDOTCA to shop around, and compare multiple quotes at the same time.


The RATESDOTCA editorial team are experienced writers focused on sharing stories and bringing you the latest news in insurance and personal finance. Our goal is to provide Canadians with the information and resources they need to make better insurance and financial decisions.

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