If you’re like most people, you likely did a lot of research and made a few phone calls to secure the best policy with your current auto insurance provider, so you don’t feel it’s necessary to go through the process again each year.

Now when your auto insurance renewal papers arrive, you’ll check that your rates haven’t gone up. If they haven’t, you’ll pull out the pink slip to replace the expired one in your car, file the rest of the papers away and not think about them again until next year.

But by not reviewing your policy, you may be overlooking one area where you can save, especially since many of us are driving less. Here are six things you can do to help reduce your auto insurance rate.

1. Review your current auto insurance policy

The pandemic has brought on many lifestyle changes, which means drivers have very different needs than they did a few years ago.

“A lot of people tend to think about their auto or home insurance at renewal time,” says Elliott Silverstein, director of government relations at CAA Insurance. “And then it’s usually a mad dash to review before their policy automatically renews, which means they don’t make changes that could be beneficial as their lives change year over year.”

Speak with your insurance agent or broker to go over your current insurance policy and see if there are any opportunities for additional savings. A thorough evaluation helps build a plan tailored to the needs of your household.

CAA Insurance¹ offers complimentary policy reviews, whether you’re currently insured with CAA or another provider.

“It’s taking that first step towards ensuring your policy is optimized for everything from your vehicle type and how much you drive to any benefits you may be eligible for,” Silverstein says.

2. Reflect on your driving habits

If you’re no longer driving to work daily, you may be able to lower your premium by changing your use from commuting to pleasure.

3. Consider pay-as-you-go insurance

CAA MyPace^TM is an auto insurance payment program designed specifically for people who drive less than 12,000 km annually.

You pay a base rate to ensure your car is protected while parked, plus your first 1,000 km. Further coverage is then purchased in 1,000 km increments.

On average, this insurance program saves policyholders 50 percent compared with traditional auto insurance.

“Always ask questions and understand where you might find savings,” Silverstein says, “because at minimum, you’ll never pay more than a traditional CAA Insurance policy if you take advantage of a pay-as-you-go payment program. It’s a low-risk change that can end up with great returns.”

4. Bundle your insurance

Most insurers offer savings when you have multiple policies with them. CAA Insurance offers savings up to 22.5 percent when bundling CAA Auto and Home Insurance.

You may also receive a multi-vehicle discount if you are insuring more than one car.

5. Use your club connections

Belonging to a club, union, alumni group or CAA can offer you some savings, too.

While you don’t have to join CAA to get CAA Auto Insurance, Members can save up to 20 percent² on their auto insurance. It pays to use your connections as much as possible.

6. Look for additional savings

There are many ways to save and a licensed CAA Insurance Agent can help.

There may be special discounts if you’re retired or for putting snow tires on your vehicle.

You may also be rewarded with a lower rate if you have a good driving record. You don’t have to wait until your current auto insurance policy is up for renewal to cancel. You may even find that cancelling your policy and switching to CAA Insurance will cost you less.

Why wait for your renewal to review your policy? CAA Insurance honours quotes for 60 days.

Only pay for what you drive

If you’re driving less, you should be paying less. Learn more about Canada’s only pay-as-you-go auto insurance program for low-mileage drivers by visiting CAAMyPace.com.

¹ Auto and Property Insurance are underwritten by CAA Insurance Company. ² To qualify for the discount you must be a current CAA Member in good standing (CAA Membership dues paid in full by membership expiry date). A La Carte Members maximum savings on auto insurance is 5 percent.

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