How do I keep my insurance costs down?

There are several ways you can help keep your insurance costs down:

  • Review your policy with a CAA Insurance Agent to ensure that your coverage meets your individual needs. You may be paying for more than you need!
  • Raise your deductible
  • Maintain safe driving habits to protect your driving record
  • Do your part in reducing automobile theft by following these simple guidelines:
    • Park in well-lit areas, where there are lots of people around
    • Avoid leaving your keys with a parking lot attendant as they can be stolen or copied
    • Never leave the key in the ignition and do not keep an extra set of keys in the vehicle
    • When leaving your car unattended, close all windows and lock all doors
    • Never leave your vehicle running while unattended
    • Do not leave valuables in the car
    • Do not leave documents showing your home address in your vehicle
    • Invest in a security system if you don't have one. If you do, make sure you use it
    • Take a picture of your car and keep it in a safe place. It will make the job easier for police if your vehicle is stolen

Almost half of vehicles stolen are from a parking lot. The majority of thefts occur between 1:00 am and 5:00 am. The best prevention is to make your vehicle as difficult to steal as possible.

Approximately 15% of insurance premiums are paid out by insurers to settle claims for fabricated claims, padding legitimate claims, false statements related to a claim, and even staged automobile accidents.

Automobile theft is much more than an insurance problem; it's an expensive social menace that every year costs Canadians close to $1 billion: $600 million for insurers to fix or replace stolen cars, $250 million in police, health care and court system costs, and many more millions of dollars in correctional services expenses. In 2003, 171,017 incidents of motor vehicle theft were reported to police -- an average of 480 vehicles a day.

The insurance industry is working together with the government, law enforcement agencies, and the Canadian Coalition Against Insurance Fraud to reduce and resolve the negative impact that these issues have on your automobile insurance premiums. CAA Insurance supports these industry efforts.