There’s good news and bad news when it comes to your car insurance. The bad news: yes, you have to pay for it! The good news? There are many ways you can lower your premium and save money. If you’re looking to pay less for your car insurance, consider the following ten tips.

1. Compare multiple quotes before you renew. Insurance premiums change regularly, and so do lifestyle factors that could impact the price you pay for your plan (such as moving or getting married). Because of this, you should compare multiple auto insurance quotes each year before renewing your coverage. Luckily, you can easily do this online before choosing your plan.
2. Install winter tires. To stay safe in the cold weather, you’ll want to install winter tires if you live in an area where the temperature drops to 7 degrees celsius or lower. Most insurance providers offer a winter tire discount that will help offset the cost of this expense.
3. Pay your premium upfront. If you have the money ready, you could save up to 9% on your premium by paying it all at once at the beginning of the year, rather than in monthly installments.
4. Raise your deductible. You can often lower your premium by raising your deductible. You’re essentially saving money by relying on the assumption that you won’t need to make a claim, so only consider this option if you have enough cash in the bank to cover your higher deductible if necessary.
5. Get rid of collision coverage. Did you know that collision coverage is often not legally required? If you’re driving an older car, it’s possible that the cost of collision coverage plus the cost of your deductible will add up to more money than you’d receive from making a claim. If that’s the case, you may want to forgo paying for collision coverage and start saving that money towards a new vehicle.
6. Have your teen complete a driver’s education course. If you’re adding a teen driver to your policy, you can often receive a discount if they complete a driver’s education course. As a bonus, you’ll have peace of mind knowing they’ve received professional training. You can also ask your insurer if your teen is eligible for a discount based on their good grades.
7. Sign up for a Usage-Based Insurance plan. Drivers who adopt a Usage-Based Insurance (UBI) plan agree to install a device that will track their driving behaviour (such as accelerating and braking) and report it to their insurer. By signing up for UBI, you can receive an immediate discount to your premium, and up to 30 percent in savings when it’s time for renewal.
8. Update your security features. Ask your insurer if you’re eligible for a discount if you install an anti-theft system, like an alarm, or if you invest in a vehicle recovery system. In both cases, your insurer could give you a break on your premium if you have security features that mitigate the risk of a stolen vehicle.
9. Bundle your insurance policies. You could save money on your policies if you insure your home and your car with the same provider. If your insurer covers other types of vehicles, you can also bundle policies for your motorcycle, boat or snowmobile.
10. Drive carefully. Your good driving record will help keep your insurance premium as low as possible, so make sure you’re following the rules of the road when you’re behind the wheel. Convictions for both minor and major traffic infractions can raise your rates, so consider contesting any tickets you feel are unfair – if you’re found not guilty, the offense won’t go on your record.

Hopefully, one or more of these tips will save you money on your car insurance. If you’re not sure whether or not you qualify for any of these discounts, call your insurer today to review your coverage. And don’t forget to review your options before it’s time to renew your policy!