Be Honest About Your Situation From The Start

When considering an insurance plan, Grysczyk recommends thinking hard about factors like your budget and what's important to you.

"When it comes to insurance, there is no one size fits all solution,” he told Narcity.

Knowing your own situation and what works for you is the most important, and sometimes not having enough can leave blind spots.

Working closely with your agent can help you determine the best policy for you. Having accurate information to give to your provider is key.

Drive Safely & Maintain A Clean Driving Record

Not only do you protect other people by driving safely, but you can also save money on your insurance premium at the same time.

Usage-based insurance programs like belaidirect’s automerit reward you for being safe behind the wheel when you opt-in to have your driving habits reviewed.

If you choose to not use automerit, a clean driving record could help your rate stay low when the time comes to renew your policy.

Ask About Possible Discounts

Sometimes, all it takes to snag a discount is just to ask if there's anything available.

“Sometimes all it takes to improve your premium is asking to verify the information we have on file is correct. New programs are put in place from time to time, so don’t be shy!" Grysczyk told Narcity.

Things like being a student, putting winter tires on your car or setting up a home security system are the sorts of things that might cause your rates to go down.

Look For Opportunities To Bundle Policies

According to Grysczyk, bundling your policies together is one of the most effective ways to cut costs on insurance rates.

“Keeping your insurance together with one insurer is both convenient and can lead to savings,” he said.

Review Your Information Every Time Your Policy Renews

If there’s one thing certain in this world, it’s change. Think back to this time last year. Are you driving less? Did you buy some nice new furniture? Did you install security cameras?

As insurance is a very personal matter, different factors can have different levels of influence, even year to year.

“It is more important than ever that existing policy holders keep their information up to date,” Grysczyk told Narcity.

“Even minor changes in information can make a difference.”

Increase Deductibles To Reduce Premiums

A simple and immediate way to slash your insurance is to opt for a higher deductible, aka the amount you need to pay before insurance kicks in when a claim goes through.

“The upside of this is lower premiums, while the downside is you may be out of pocket for more in the event of a claim,” explained Grysczyk.

“Careful consideration needs to be given to how much risk you are willing to take.”

This is a really personal choice, and you’ll have to decide what’s right for you.

Take Advantage Of Self-Serve Tools

Chances are, your insurance provider has a convenient app where you can view your policy, make changes and even submit claims.

According to Grysczyk, making full use of these online tools can really pay off.

In some circumstances, getting a quote and buying your policy online can lead to some savings versus by calling an agent.