When applying for a car title loan, or maybe you’ve already managed to get one to buy a vehicle, one must always be cautious of how much their auto insurance rates are.
With inflation ever rising in 2023, you must set aside enough to repay loans.
Auto insurance is one of the highest costs of owning a car. The cost varies from driver to driver, depending on their circumstances. But luckily, these costs aren’t always set in stone.
In this article, we’ll look at three ways to help you lower your car insurance rates in Alberta.
Shop Around for the Best Rates
Our first tip is to shop around insurance companies for the best rates and the one that fits your circumstance. This is especially helpful if you’ve taken out a cash title loan.
Consider shopping around and obtaining quotes from other companies you’re currently with, especially if you’ve noticed that your insurance rates will increase considerably. There is very likely a lower rate from a competing insurance company out there.
Take a Defense Driving Course
Did you know some insurance companies will trim your rates if you take a regular defensive driving course?
By taking a defensive driving or accident prevention course, you can reduce the overall number of points you have on your driver’s license. It may be best to ask your insurance company before signing up for these, or any other courses that can help you get a discount on your rates.
By doing this, you’ll also be able to crunch some numbers to decide if the course cost will translate to big enough insurance savings, especially if you are paying off a car title loan.
Stay Safe on the Roads
Your driver’s record will play a significant factor in your insurance rates. If you’ve been in a recent accident where you are at fault, your insurance rates will likely increase.
By maintaining a clean and safe driving record, you can see your premiums go lower. Demerits can affect your three-year rates even though they only last two on your driving record.
Cash Loans Alberta
Cash Loans Alberta has been helping thousands of customers with their short and long-term financial needs. Locally owned and operated, we take pride in the relationships it develops with its customers, so we hope these tips will help you lower your insurance rates.
Cash Loans Alberta understands that life sometimes requires quick money for unexpected expenses or events. How you use the money is up to you, our loan counselling team is here to get it for you.
Get approved for a loan today- no credit check required!
